Is It Illegal To Make Fake Pay Stubs?
Pay stubs are essential when you are looking to get a loan approval but you should be wary of breaking the law in the naming of getting the loan. People do desperate things when they are looking for a loan but remember that whatever emergency or trouble you think you are in will be made worse if you have fake pay stubs made for you. In most cases, the fake pay stubs are used when applying for car loans. People who are mostly pushed to such extents are those who are paid on a daily basis in form of cash and tips which means they do not have any official document that attests to the amount they say they have been earning. Another group that chooses the fake pay stub path are those who do not have a job or people who have not held the position they are currently in for long.
At the beginning, you may think you are doing what is best for you but this is not always the case. 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. The loan application contract requires the borrower to be forthcoming about the information asked for and submitting a forged pay stub goes against the agreement which means the lending institution can sue you for that.
If you were going through a middleman to get the loan, you will be putting their business in jeopardy not to mention the relationship they have with the lender. 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. At times, it does not get that and the worst that can happen is being denied the loan.