Is it a serious crime to lie about your wage?

homersimpson_3

my Rent + elecriticy - £500/month
my professional loan repayments - over £200/month
money coming in - from student loan - £5100 ish
part time work - varied depending on work

i was considering going back to full-time education/working less hours etc a few months ago and started looking at costs of student accomodation. student halls cost betwen £2000-£3000 per year. your rent and electricity is more than your income and nearly double the amount. is the course- whatever it is- run elsewhere where the rent is cheaper? who are you with for electricity? if you can reduce your rent you can use the excess money to start targeting the debt.

Ryan.Maloney

homersimpson wrote:

i was considering going back to full-time education/working less hours etc a few months ago and started looking at costs of student accomodation. student halls cost betwen £2000-£3000 per year. your rent and electricity is more than your income and nearly double the amount. is the course- whatever it is- run elsewhere where the rent is cheaper? who are you with for electricity? if you can reduce your rent you can use the excess money to start targeting the debt.

Central London - £500 for rent&electricity is a bargain (believe it or not!). My degree is quite competitive to get into and there aren't many places to do it..

missile

You could try re-negotiating your professional loan. The lender may accept lower interest, reduced payment scale and / or interest holiday - particularly if you convince him that your only other viable alternative is to declare bankrupsy

missk_ensington

As many of you know, my now ex partner was approx £90,000 in debt and for a brief stint he made some effort at managing the debt and paying some off. He owed £11,000 to Morgan&Stanley, he contacted them, explained and agreed £20 a month and the interest was stopped. The same for several others, the only one that was an !!! was Amex. Not that it mattered cos he only kept it up for about 3 months and couldn't be bothered anymore, but it shows iof they think you're only alternative is bankruptcy they will stop all interest and give you a ridiculously low amount to repay.

After a while my ex owed, say 13,000 to a creditor, after several motnhs of red letters and everything, they send you an offer, of like £9,000 if you pay within a month and stuff like that.

emmareid

some credit scoring systems have a detect method set up on them.
lets say that you applied for a loan at one company and said that you earnt £1300 and then applied at other bank and said that you earnt £1500
Black Horse systems show a detect so it shows up if you have given different details when you have aplied for loans.
Think this may also go for lloyds as well as there the same company

just a bit of useful info

Ryan.Maloney

emmareid wrote:

some credit scoring systems have a detect method set up on them.
lets say that you applied for a loan at one company and said that you earnt £1300 and then applied at other bank and said that you earnt £1500
Black Horse systems show a detect so it shows up if you have given different details when you have aplied for loans.
Think this may also go for lloyds as well as there the same company

just a bit of useful info

so if you lie, be consistent, hehe just kidding.

honesty is the best policy


ps - you can see Martin (the guy who setup this website) on channel 5 - mornings - the Wright Stuff (chat-show phone-in type thing). I

J_81

what should i do in my position. I work PT and earn 562 per month but i only just started working extra hrs. My last 2 payslips piror to this month were 350 & 480 pounds so what do i say when they ask what do i earn per month cos they may want to see evidence i.e payslips in the future.

rsykes2000

If you earn 562, ask your employer for a letter stating this, most companies should accept this.

The_Dark_Defender

Bank asked me whether I was in permanent employment. I've been working for the same company since May 2007 and will be working until December 2008 at least. After this point it's a bit iffy as to what I'll be doing. My position is best described as contractor but I told the bank permanent. How big a mistake was this?

The_Dark_Defender

Following on from this, when I turn up at the bank will I be asked to produce any employment contract? Or is the fact that I've been approved enough at this stage?