Back dating

23-Feb-2016 07:36

In certain circumstances tax credits claims can be backdated.This section of the website provides information about when claims can be backdated as well as links to HMRC guidance about the backdating process.(Jason Mark Anderman illustrates the logistics problem well in this comment to a backdating post on Ken Adams’s blog.) There’s nothing inherently illegal or unethical about backdating contracts, although backdating can certainly be both unethical and illegal, depending on the situation.For those with an hour to kill thinking about the issues, Jeffrey Kwall and Stuart Duhl wrote an excellent article on backdating that was published in Business Lawyer in 2008.The only people who would benefit from that would be trial lawyers. Closer to home, consider this: backdating a car insurance policy is insurance fraud.If you’re caught doing it you risk fines or imprisonment, as does the agent who agreed to do it.A little over a week ago a user on the my FICO forums was told by American Express Credit Bureau Unit that as of March 21st, 2015 (this date is based on when American Express first reports your credit card and not when you were approved/received your card) new credit card accounts would not be backdated and the actual approval date would be used.I’ve been reluctant to post anything, as customer service representatives often tell cardholders the wrong information.

There is always a possibility that this is a mistake and that the credit bureau unit has been giving out the wrong information to consumers, but I find that doesn’t seem to gel with the data points that I’ve seen.I don’t have any recent applications with American Express, so I haven’t been able to confirm this personally but feel free to share your data points in the comments.It’s important to remember that at the moment this change is only effecting new accounts that are opened, if your American Express card has already reported the old date then it will continue to do so.Changes of circumstances can be backdated up to 1 month.Prior to 6 April 2012, the backdating period for changes of circumstances was 3 months.

There is always a possibility that this is a mistake and that the credit bureau unit has been giving out the wrong information to consumers, but I find that doesn’t seem to gel with the data points that I’ve seen.I don’t have any recent applications with American Express, so I haven’t been able to confirm this personally but feel free to share your data points in the comments.It’s important to remember that at the moment this change is only effecting new accounts that are opened, if your American Express card has already reported the old date then it will continue to do so.Changes of circumstances can be backdated up to 1 month.Prior to 6 April 2012, the backdating period for changes of circumstances was 3 months.The facts are a bit complicated, involving circumstances surrounding the failure of a bank and transactions in the bank’s loans preceding the failure as well as transactions of the FDIC as the bank’s receiver.