Is it possible for anyone to verify your income (credit, landlords, etc.)??

[BamBam215]

Like when applying for a loan or renting an apartment, is it possible to lie a bit about your income? Do they really have any way to verify?

 

[Mutilator]

Well your credit report has your list of employers and the monthly payments for your credit cards & loans. They also can get access to your tax returns which lists how much you made last year... they usually ask for the past 2 years so they have that info to verify with. If you recently got fired and still say you're making $xx,xxx/year then I guess they wouldn't be able to verify your current income... only what you reported last year.
It's still not a good idea to lie on applications though... it can come back and bite you on the a$$.

Edit: Actually they'll probably call your employer... I know my old apartment complex did that when I rented my 1st apartment.

 

[isaacmacdonald]

yes. my accountant said something about the irs not disclosing your information to other parties without a warrant. also, my boss got his first house by mfg'ng pay stubs (he was self employed) and over stating his income.

 

[isaacmacdonald]

Originally posted by: Mutilator
Well your credit report has your list of employers and the monthly payments for your credit cards & loans. They also can get access to your tax returns which lists how much you made last year... they usually ask for the past 2 years so they have that info to verify with. If you recently got fired and still say you're making $xx,xxx/year then I guess they wouldn't be able to verify your current income... only what you reported last year.
It's still not a good idea to lie on applications though... it can come back and bite you on the a$$.

Edit: Actually they'll probably call your employer... I know my old apartment complex did that when I rented my 1st apartment.

are you sure they can get the tax returns from the irs? I was under the impression you had to supply them with that. I'm 90% sure, that's how it's supposed to work.

 

[BamBam215]

hm. one person says they can check and another says they can't. i'm pretty sure my credit report does not show anything about my employer. and i don't think just anyone can call an employer and ask for sensitive information about an employee. so i guess my biggest concern is the tax returns since i did file one last year. anyone else got info?

 

[Thegonagle]

I think my credit report shows my last known employment as McDonald's. That's only about 9 years out of date, and I've only received W-2s or 1099s from about 10-12 other people or places since. Yeah, Equifax really knows all about me. . . NOT!

BUT, yes, they can call your employer and verify employment and possibly income. If I was potentially renting to you, and you said that no, I could not call your employer, I'd probably tell you to take a hike.

 

[Mutilator]

Originally posted by: isaacmacdonald

Originally posted by: Mutilator
Well your credit report has your list of employers and the monthly payments for your credit cards & loans. They also can get access to your tax returns which lists how much you made last year... they usually ask for the past 2 years so they have that info to verify with. If you recently got fired and still say you're making $xx,xxx/year then I guess they wouldn't be able to verify your current income... only what you reported last year.
It's still not a good idea to lie on applications though... it can come back and bite you on the a$$.

Edit: Actually they'll probably call your employer... I know my old apartment complex did that when I rented my 1st apartment.

are you sure they can get the tax returns from the irs? I was under the impression you had to supply them with that. I'm 90% sure, that's how it's supposed to work.

I meant that you supply them... they usually require you to or they won't approve you/process your application.

 

[BamBam215]

Originally posted by: Mutilator

Originally posted by: isaacmacdonald

Originally posted by: Mutilator
Well your credit report has your list of employers and the monthly payments for your credit cards & loans. They also can get access to your tax returns which lists how much you made last year... they usually ask for the past 2 years so they have that info to verify with. If you recently got fired and still say you're making $xx,xxx/year then I guess they wouldn't be able to verify your current income... only what you reported last year.
It's still not a good idea to lie on applications though... it can come back and bite you on the a$$.

Edit: Actually they'll probably call your employer... I know my old apartment complex did that when I rented my 1st apartment.

are you sure they can get the tax returns from the irs? I was under the impression you had to supply them with that. I'm 90% sure, that's how it's supposed to work.

I meant that you supply them... they usually require you to or they won't approve you/process your application.

so if they don't ask for IRS tax returns then most likely they can't verify?

 

[BamBam215]

Originally posted by: Thegonagle
I think my credit report shows my last known employment as McDonald's. That's only about 9 years out of date, and I've only received W-2s or 1099s from about 10-12 other people or places since. Yeah, Equifax really knows all about me. . . NOT!

BUT, yes, they can call your employer and verify employment and possibly income. If I was potentially renting to you, and you said that no, I could not call your employer, I'd probably tell you to take a hike.

verifying employment is not a big deal since i am employed but as for income, isn't that pretty sensitive information to pass over to someone over the phone?

 

[OrByte]

AFAIK when you fill out the credit app or the rental app it requests current employment info. THEN when you sign the app you are giving whomever it is you are applying to the authority to call your current employer and verify your employment.

BUT normally that is all any employer will release, I can't imagine an employer telling anyone (creditor, bank, Appt mngt) how much you earn.

HOWEVER, if you notice on the credit app or rental app there may be a box where you fill out total monthly income no?

so whatever you put in that box you are signing off (to the best of your knowledge) that it is factual. That is all that the bank or appt mngr has to go by.....

my .02

 

[amnesiac]

Originally posted by: BamBam215
Like when applying for a loan or renting an apartment, is it possible to lie a bit about your income? Do they really have any way to verify?

We ask for your paycheck stub.

Failing that, a copy of a tax return.

Also we charge you $20 per applicant when you apply as a credit check fee. There's no way around this. You don't pay, you don't rent. Go rent a slum or something.