Home Life, Relationships & Finance

anita665 · Nov 23rd, 2007, 15:48 PM

Hi guys.

Is it very bad to stretch the truth on a loan application?? My O/H is out of work till Jan & my job has cut my hours right down to being non existant for the past 2 or 3 weeks. Before that I was full time. I should be back to full time again soon but it's just at the moment there is nothing to do.

We really need a loan and I've been told to just tell them I'm still working full time but I feel really bad & scared of what could happen if they find out.

Jo · Nov 23rd, 2007, 15:53 PM

WEll for a loan you need to be able to prove your income don't you?
Personally I wouldn't risk it as i am sure it class as a kind of fraud, but if you actually speak to someone at the bank they may be able to help you more

Arcanegirl · Nov 23rd, 2007, 16:12 PM

You dont need to prove for a loan, i went to my bank and they didnt ask for anything from me to prove anything!

Jo · Nov 23rd, 2007, 16:39 PM

really??? that is madness, no wonder some people are up to their necks in debt

UptonGirl · Nov 23rd, 2007, 17:02 PM

im a mortgage adviser and i know its classed as fraud to lie on any application for finance. sorry to be the bearer of bad news.......i wouldnt risk it. do you really need a loan that badly? if you took one out can you deffinately afford the repayments?you need to be able to afford the repayments in your current circumstances and then you'll be fine.otherwise it is a bit of a risk, you need to be carefull....you could end up with lots of debt and be unable to repay them. goodluck.....xx

Wobbles · Nov 23rd, 2007, 18:52 PM

Your bank shoudl already hold you incoming details ...

When bank gave me a loan they just ran over if all was still right.

You have higher chance with a loan with bank if you have kept your account in good state.

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