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3 ripple effects of a white collar conviction

Being charged with a white collar crime is no small matter. While it may lack the stigma of drug charges or other types of crimes, the consequences may be no less severe. Offenses such as bank fraud, embezzlement and RICO violations all have the potential to land you in prison and majorly disrupt your life.

Apart from the obvious, though, there are several other ways a conviction can impact you. According to the Huffington Post, felony convictions typically have consequences that last a lifetime. There are many ripple effects that can make recovering from such an event difficult. Take the following into consideration, and fight against charges so that you do not have to deal with these disadvantages.

1. Difficulty getting credit

If you are a businessperson or entrepreneur, you might rely on credit to build your enterprises and pursue new business ventures. With a criminal conviction on your record, though, you may find it increasingly difficult to get approved for credit lines — even if your score and record are otherwise great. Detailed credit reports often include a background check, too, so it will be hard to keep a secret.

2. Impact to reputation

White collar crimes often make the news, and when your name is associated with criminal activity, your reputation can quickly go down the drain. This is especially true if the charges result in a conviction. A tarnished reputation can make it difficult to resume work in your chosen career path, and it will certainly make finding employment more difficult.

3. Detriment to business

Business owners charged with white collar crimes may have more at stake than their own reputation — their company’s name is on the line, too. When you face criminal charges, it reflects poorly on your business, and a conviction could be damaging enough to seriously compromise your profits. Rather than accept such obvious damage to the company you have built, defend yourself and fight the charges.