Is it a serious crime to lie about your wage?

comicmankev

Egg offered me the full £25k when I was earning £14k!!! Luckily didnt accept it (With PPI of course -lol)

Rafter

Be very careful about being lulled into a false sense of security about how much you can borrow from 'offers' that come through the door.

Often these are caveated by 'qualified to apply' and do not necessarily mean that you will get accepted.

How much you can borrow will depend on your outgoings, how much you have borrowed already, how well you appear to be keeping on top of payments (do you regularly run an overdraft for example).

Generally most lenders won't touch you if you are already borrowing 100% of your salary unsecured (or have it available in the form of unused credit card limits).

As recommended though - think carefully before taking out a consolidation loan and consider your other options.

Good luck.

R.

Astaroth

Yes... been getting a few posts about Natwest Black card recently for the missus...

http://www.natwestblack.com

Unfortunately it does say she has to have a salary of over £70,000 to apply... which she doesnt

ms_london

Well, you have to pay back what you borrow so it needs to be something you can afford, or am I missing something??!!!

pickle

ms_london wrote:

Well, you have to pay back what you borrow so it needs to be something you can afford, or am I missing something??!!!

The banks have been lending money out left, right and centre to just about anyone from what I can gather, whether they can afford to pay it back or not. I can't understand this at all, it doesn't make business sense surely?!

nicola1982_2

Normally you're allowed to include other sources of income too however, so if you receive money of your partner that is included in your income, as is any money you receive for rent of the kids etc.

Itsacraig

Lenders wont be able to check on what your income actually is, but they may ask for proof of bank statements if they are not satisfied with the application whih you have given them.
At the end of the day, why lie? Why attempt to borrow more than what a credit analyst would wish you to have. Banks do try and remain responsible lenders, but alot of the time, it is at the fault of the customer for not giving the correct income originally.

keithboy40

14 years as a police officer and i have neer seen a report from a bank about credit/loan fraud of this nature. banks will deal with it themselves, if they decide too.

Ryan.Maloney

It is illegal, immoral and wrong.

But I was very curious.. banks seem to give money out willy-nilly, but obviously now I see there are safeguards - they look into your spending, full credit history etc.

Ryan.Maloney

I got a shock today

Last week I applied for a loan for £15,000 and was dishonest about where I worked and how much I earnt.

I said my employer was my EX employer (I used to work there over summer) but the truth is - now I'm a student.

The company (that I applied to for the loan) had asked me to send them 3 months bank statements before they would make a decision.

So I though - 'Never mind, i'll just leave it'. A week passed (I decided to just leave it - and not bother with the loan)

Well, I got aphone call today.. I was half asleep and the guy said 'I phoned [the name of your employers] and they said you no longer work there'

he went on-and-on about how I had been dishonest [and quite rightly so - I shouldn't have lied - it was wrong]. He said this is very serious and further action would be taken

I actually didn't say much throughout the phone call (I figured it was being taped)


Now, I realise what I did was wrong ,and many of you are probably thinking I deserve this...

What's going to happen? Are the police going to be involved? (Realistically - do they have enough resources?)

I am sure they are going to make a (metaphorical) big black mark on my credit record, but I am declaring bankruptcy anyway.

I am kind of mentally preparing for being arrested - I would probably do a 'no comment' interview.

(I know this is the dumbest thing I have ever done)