Loan - Guilty Concience

[Frozenpeas]

Hi. My partner is currently out of work till Jan, when he has a job lined up. I'm still working but they've cut my hours down from full time to me being lucky if I get any in a week and I have a feeling they're trying to get rid of me. I'm pregnant too so although Ive been trying, nowhere else wants to employ me. To cut a long story short I've lied on a loan application by saying I still was doing full time hours when I'm not, even though if they don't get rid of me I should have full time hours again in December when trade picks up. I feel really guilty & worried about what could happen if they find out. My mum reasures me people do it all the time but not me!! I've been accepted for the loan and have to just send the signed form back but I don't know that I should. I don't know how we will cope without the loan but I also don't know that it's worth it.

[DSJ]

The loan company could well check with your employers & discover that you have lied. Don't sign the form & take the risk.

[DONNA1458]

DSJ is wrong they do not check with your employer if you have a good credit rating and therefor not a risk then they would probably give you the loan on your shorter hours, as long as you can afford to make the payment on time that is all they are bothered about. Don't let this put added pressure on you if it makes your life a little easier and no one is hurt or loses out then go for it.

[DSJ]

Don't sign anything that is untrue. If you prefer, ask the loan company if they will lend you what you want on your reduced hours. If you need professional advice, go to your nearest CAB office.
When my son applied for a loan, his employer was certainly approached & had to countersign that the work information that he had given was correct.

[Markandshez]

I would be more concerned with your employer and what they are trying to do. It may be that what they are doing will affect your maternity pay.

[EverClean]

It's fraud.

Loan companies can and do check with employers.

Don't take the risk. Never sign a credit application that you know is untrue - especially when it's so easy for the loan company to check if the information is true.

[shomer42]

They don't check your hours, they rely upon you to tell the truth. can you afford the loan repayments? That's the question. I regularly see people fake the applications for loans and get them, I have never seen anyone prosecuted for it, you most probably will not be found out. But that's irrelevant really if you cannot afford the loan. My advice would be that unless your life depends on it don't borrow, you will feel trapped. Better I am afraid to go without and feel deprived.