Has anyone lied about income and/or savings on application

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TXviking
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Re: Has anyone lied about income and/or savings on application

Postby TXviking » Wed Aug 31, 2016 2:58 pm

Fraud prosecutions are incredibly rare, but if you're asked for income verification and can't back up the numbers you provided, then AA is indeed likely.

Of course, there are legitimate reasons not to provide income verification, particularly if the creditor wants something as intrusive as a 4056-T. But even in this case, expect AA.

That said, I've never been asked for income verification for a credit card. For mortgages I've had to do do the 4056-T; for car loans, I've had to supply pay stubs. Of course, YMMV.


RWS
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Re: Has anyone lied about income and/or savings on application

Postby RWS » Thu Sep 15, 2016 2:26 pm

No, not worth the risk. However, I have put my income down as greater than (>) $x, or a range of $x to $y on certain applications and it has been accepted and approved.

oldsoldier
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Re: Has anyone lied about income and/or savings on application

Postby oldsoldier » Thu Sep 15, 2016 4:55 pm

Is it lying if you apply using two incomes if married or do you only use one income?

Then what happens if they do want verification and you used both incomes?
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PhillyPhoto
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Re: Has anyone lied about income and/or savings on application

Postby PhillyPhoto » Fri Sep 16, 2016 8:08 am

oldsoldier wrote:Is it lying if you apply using two incomes if married or do you only use one income?

Then what happens if they do want verification and you used both incomes?

I'm curious about this too. I'm engaged, but sometimes I'll use my card to buy stuff to meet the minimum spend, and she'll give me some money towards it. I make mid $60's now, but combined, it would be over $100K.
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TXviking
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Re: Has anyone lied about income and/or savings on application

Postby TXviking » Sat Sep 17, 2016 12:14 am

oldsoldier wrote:Is it lying if you apply using two incomes if married or do you only use one income?

Then what happens if they do want verification and you used both incomes?


That's fine. If they want verification and you decide to comply, you simply supply verification from both of you. E.g. paystubs from both, or a joint tax return, or whatever.

This works the same way as when you apply for financing together, e.g. if you're buying a house as a couple.

Judemik
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Re: Has anyone lied about income and/or savings on application

Postby Judemik » Sun Oct 16, 2016 11:10 pm

Any kind of manipulations will be caught in the long run.

In case, they ask for a verification, may after some years, then we will be charged for fraud.

If you didn't do it , then it's good for you, you can get a peaceful sleep.



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