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Personal Loans Discuss personal loans, secured and unsecured, and general borrowing.

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Old 05-03-2008, 01:10 AM
Seasons Seasons is offline
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Location: California, USA
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Default Problem cashing the loan:Personal Loan's approved,Making Money,but no proof of income

Since I have a good credit score, my loan for about $5000 was approved. But the only problem is that the bank asks me the very general thing: Proof of income such as 2 paystubs or 2 years of tax report.

This is not my first time in applying a personal loan. A couple years ago it's easier for me to get a loan. I remember when I worked as a driver and had Earnings Statement in every payday.

But now...after taking some classes and recover from my sickness, I think it's impossible for me to go back working as a driver again. No, thanks.

For a couple year I have been working and get cash. So technically I don't have the official earnings statement, of course.

Any idea how to provide myself some earning statements, tax report or something like that....as a proof of my income to show to the bank?

p.s.: Somebody suggested me that to report my recent income as well as the last years income to IRS is OK as long as I can find any way to reduce the taxes, probably by stating that I was loss or put all the expenses.

Or maybe I give some cash to any employer to put me as if I am their empoyee. Then I can get some 2 or 3 earning statements I can use for the loan application.
What do you think?
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Old 05-07-2008, 11:06 PM
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brian brian is offline
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Default Re: Problem cashing the loan:Personal Loan's approved,Making Money,but no proof of in

I think this is a surprisingly common problem - income or not, most reputable lenders will want to see some form of proof of income and you'll need to provide it.

However, you could always look to other lenders where proof is not required, but you may find repayment rates raised because of it.

2c.
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Old 05-08-2008, 06:19 AM
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bba060503 bba060503 is offline
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Default Re: Problem cashing the loan:Personal Loan's approved,Making Money,but no proof of in

Mortage is the best option for your problem, I think.
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