OK Fess up...How many of you have Lied on a Credit Application??

[9877donna]

I know alot of people put down incorrect information on their credit applications to increase their chances of getting approved.Anyone on this forum who might have lied about Income,Employment or time at present job?
I'll go first.Yes I did lie on about six of my credit applications.I exaggerated income by about $6-8 thousand dollars and put down I had been working at my job over a year and a half and actually only been there 3 months.
I'm not bragging about it and I'm certainly not proud of it.It's not anything I'll ever do again that's for sure! Stupid....stupid.....stupid.....
Anyone else?
Donna

[brainless twit]

I'll play... I upped my length of time on the job to get approved. Didn't have to stretch income, but I had only been there 3 weeks and I said I had been there 6 months. In the past, I made up income to get CCs when I wasn't even working. It makes me sick to think back how dependent I had become on credit.

[Princesskina]

I join in...

I am guilty of it as well...

Adding more months to length of time a a few thousands more on income :/

[Spartan]

Well, if you ever need to discharge the debt incurred from credit that you obtained by misrepresenting your financial situation, AND the creditor can prove it, then you are out of luck. It is rare that the creditor would go to such length, but who knows?

[9877donna]

Well, if you ever need to discharge the debt incurred from credit that you obtained by misrepresenting your financial situation, AND the creditor can prove it, then you are out of luck. It is rare that the creditor would go to such length, but who knows?

Your right Spartan.And I just got lucky that none of my creditors did an in depth analysis.I know I was very,very concerned when I first filed for BK because of this very reason.I kept looking at Pacer wondering when and if I would see an objection to discharge.I really,really dreaded it every time I got a notice from the BK court thinking Oh no,it's here...notice of an adversary proceeding.Thank god it never came!You'll never know how grateful I was that I did not have any problems.Whew.I dodged a bullet and I know it.
I have made a new years resolution to never,ever put false information on my credit applications again...no matter what the situation.
Hopefully this post will help someone here not make the same mistake I made.
It the long run it will hurt you....Not help!
Donna

[SinkingFast]

I've never exagerated household income, time on job, or anything like that, but,........

I have said I'm "self employed" as opposed to saying I'm a SAHM or "Housewife".

[9877donna]

Boy you are something....

I've never exagerated household income, time on job, or anything like that, but,........

I have said I'm "self employed" as opposed to saying I'm a SAHM or "Housewife".

Ooh,SinkingFast.You sneaky pete! You are something else! What else do you have up your sleeve?? First the income tax return manouver and now this!
Wow. I wanna learn your technique.Your the devil in disguise!
Donna

[SinkingFast]

Ooh,SinkingFast.You sneaky pete! You are something else! What else do you have up your sleeve?? First the income tax return manouver and now this!
Wow. I wanna learn your technique.Your the devil in disguise!
Donna

Not really, Donna.

Crafy maybe,......... But certainly not a Devil!!

Let's just say, I've been around the block a time or 2.

[9877donna]

Not really, Donna.

Crafy maybe,......... But certainly not a Devil!!

Let's just say, I've been around the block a time or 2.

I still wanna grow up to be just like you!
Donna

[BK'd-Betty]

ROFLMAO!

I still wanna grow up to be just like you!
Donna

[GoingDown]

Well, if you ever need to discharge the debt incurred from credit that you obtained by misrepresenting your financial situation, AND the creditor can prove it, then you are out of luck. It is rare that the creditor would go to such length, but who knows?

It is VERY RARE, and the more time that passes in between when the credit card purchases were made and when the person files for BK, the less likely it is to cause any problems. Creditors would have an exceptionally hard time proving "intent" and it is usually not worth their effort and expense to fight it, especially in a no-asset case.


And one thing I noticed is that credit cards would routinely increase my credit limit without me ever requesting an increase and without any verification that my income level had increased at all. And in fact, I was just barely making the minimum payments when they increased my limits. That sounds like entrapment to me.

[Spartan]

Entrapment is probably too strong a word to use. "Enabling" would be more appropriate, in my case.

[Spartan]

Your right Spartan.And I just got lucky that none of my creditors did an in depth analysis.I know I was very,very concerned when I first filed for BK because of this very reason.I kept looking at Pacer wondering when and if I would see an objection to discharge.I really,really dreaded it every time I got a notice from the BK court thinking Oh no,it's here...notice of an adversary proceeding.Thank god it never came!You'll never know how grateful I was that I did not have any problems.Whew.I dodged a bullet and I know it.
I have made a new years resolution to never,ever put false information on my credit applications again...no matter what the situation.
Hopefully this post will help someone here not make the same mistake I made.
It the long run it will hurt you....Not help!
Donna

Nothing like being shot at and live to tell about it.

I am happy that everything works out for you. And the best is yet to come.

[CATCHMEIFYOUCAN]

Hmmm, now they I've already filed, I wonder if I should boost my salary just to get a credit card for the road to repairs???

Ive never lied on any of my credit card applications in the past, because I always thought they had a way of finding out how much you make/made? Is this not true? They just go by what you say? Hmmm .....

Catchmeifyoucan

[9877donna]

Please go back and read my previous post!!

Hmmm, now they I've already filed, I wonder if I should boost my salary just to get a credit card for the road to repairs???

Ive never lied on any of my credit card applications in the past, because I always thought they had a way of finding out how much you make/made? Is this not true? They just go by what you say? Hmmm .....

Catchmeifyoucan

Umm,Well I know the creditors I had did not check BUT then again I did not have any of the 'heavy hitters' like BOA/MBNA,AMEX....I was told some DO check your employment and Income.And some creditors also ask for a 'pay stub' to verify income.
Alot of people do it but It's not a smart move to increase your bottom line to get credit.

Donna