Fake payslips

[izzyb90]

Hi,

I left my job 3 months ago to go travelling and I returned last week, I have a number of small loans and credit cards where the interest rates are fairly high. I applied for a consolidation loan to cover all of this at a much lower interest rate but the bank asked me to send them 3 months wage slips. As the interest was killing me I just had to take the loan and yesterday I returned the paperwork signed with 3 months fake wageslips I ordered from the internet. Now I am worried I have done something really stupid. I can easily afford the repayments for at least a year without even finding a job.

What will happen if they find out they are fake? I know it was really stupid but now I am really anxious.

Thanks

Isabella

[nemesis45]

Re: Fake payslips

Hi,

I left my job 3 months ago to go travelling and I returned last week, I have a number of small loans and credit cards where the interest rates are fairly high. I applied for a consolidation loan to cover all of this at a much lower interest rate but the bank asked me to send them 3 months wage slips. As the interest was killing me I just had to take the loan and yesterday I returned the paperwork signed with 3 months fake wageslips I ordered from the internet. Now I am worried I have done something really stupid. I can easily afford the repayments for at least a year without even finding a job.

What will happen if they find out they are fake? I know it was really stupid but now I am really anxious.

Thanks

Isabella

Good morning Isabella,
Responding to your PM

An awkward and difficult situation to be in!!
Many finance providers are very much aware of " internet" payslips and these may well be recognised for what they are.
The lending bank could attempt to verify the validity of the payslips which would of course fail.
Consequence could be serious depending on the attitude of the bank I'm sure you are aware that
to attempt to gain a financial benefit by deception is serious.

You have two choices wait for a response from the lender or contact them immediately and cancel the application, you don't
have to give any reason for doing so and ask for documents to be returned to you.


nem

[Amethyst]

Re: Fake payslips

You have two choices wait for a response from the lender or contact them immediately and cancel the application, you don't
have to give any reason for doing so and ask for documents to be returned to you.

I'd go with the second option, get the application cancelled, asap.

Then lets go through your credit cards and loans - there are other things you could consider rather than a consolidation loan to get things under control.

[izzyb90]

Re: Fake payslips

Thanks guys, if I just let the application proceed is there a high likelihood I will be caught?

What other options do I have to get things under control amethyst?

Thanks

Isabella

[Amethyst]

Re: Fake payslips

There is a high likelihood you would be caught out yes.

You mention you are able to pay the consolidation loan without working over the next year. So you have some savings I presume. I don't know the level of your debts at all or what your priorities are. Consolidation loans are always dangerous as once those debts are paid off and you are repaying a single loan, there is the temptation to incur other debts, just getting a credit card 'for emergencies' for example, can soon turn back into a couple more credit cards, catalogues and a loan and the cycle starts over. Are you concerned about your credit rating ? There are things like snowballing ( see Debt Camel's excellent post here http://debtcamel.co.uk/debt-options/snowball/ ) you could look at. Or look at a debt management plan, self managed or through someone like stepchange. You could look for work now and use your savings to make full and final settlements. Do you have security (own your home etc?) ? Not all loans want 3 months payslips, if you have a private income then evidence of that would suffice. It really depends on your circumstances, level of debt, and what you want to do.

[izzyb90]

Re: Fake payslips

Ok I will call immediately and get the application cancelled. I was under the impression that most of the time it goes unnoticed. I've looked extensively at it online and it seems the people who do get caught are the ones where the was other irregularities on the wage slips.

It's only about 7k but the interest is too high, do you know of any mainstream lenders who do not require wageslips?

[Amethyst]

Re: Fake payslips

It could go unnoticed, but is it worth the risk ?

Do you have a private income or just savings ?

[izzyb90]

Re: Fake payslips

Probably not, I was under the impression that as long as you get the slip right everything is fine. The cases I've found were caught out because of things like suspected forged signatures ect.

Just savings!

[Amethyst]

Re: Fake payslips

With mortgages I know the lenders can check the details through the HMRC (eg the paye details etc ).

Are these payslips saying you worked at an existent company over the period when you were travelling ? Had you worked at that company before you went travelling ? ie. have you basically used the three months before you went travelling with the dates of while you were away ? You could communicate with your bank about your circumstances. That you intend to return to employment after a short break and you have x in savings. If you have £7k in savings you could just pay the debts off, get back to employment and have a clean slate without worrying about any possibility of ending up with fraud markers or conviction.

[izzyb90]

Re: Fake payslips

Yes I've heard of that but I don't think there is a system to check loans.

I just used the company I worked at, I quit the job to go travelling. I've called them now and told them to cancel the application anyway.

I don't have enough savings to completely cover them and then I'd be left with no money so I'm probably not going to do that.