The Ugly Side of Making Fake Pay Stubs.
Your lender will need assurance that the salary you say you are getting is actually right which means submitting your pay stub and it is crucial to do the right thing if you want to avoid going to jail. It might be true that you need the loan badly but making a fake pay stub is going to put you in more trouble than you already are in. In most cases, the fake pay stubs are used when applying for car loans. If the job you do involves daily payments in form of cash and tips, you will not be expecting any bank deposit from your employer at the end of the month and this means you will not have a pay stub. Individuals who have just got an employment opportunity and cannot give the current pay stub because the time they have been employed can be a hindrance for them procuring a loan or those who have lost a job will be in a dilemma when asked for a pay stub and this might make it seem like getting a fake pay stub is the only way out.
Even though you might think that the fake pay stubs will solve your problems, the hope you are promised is usually false. Remember that the people who make them alter information regarding your education level and the grades your scores, the company you are working with, the salary you are getting and how long you have been employed. This might seem like a small price to pay considering the benefits you expect if the loan application goes through but once the lender realizes this, your relationship will crumble. Getting a loan is not usually a one-time thing and if you want to qualify for an even bigger amount in the future, it is good to maintain a good relationship. Also, you will have signed a contract to get the loan and if the forged documents are realized after the loan has been processed, it will be null and void which means the lender will have the right to take legal action against you.
You are not the only person who will be affected by this because even middlemen were involved like loan brokers, rental management companies, and even car dealerships, this will reflect badly on them in the eyes of the lender because it will mean they did not do a great job in vetting you and it is not right to destroy someone else’s dream no matter what you are going through. When the case is out, you will not just be charged with a felony but remember that it can destroy your reputation in the lending field such that no financial institution will ever touch you. Not every lender will sue you and some will just deny you the financial aid you were seeking.