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TylerDurden

Over-Stating Income, Down The Road, Unable to Make Payments

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If you state your income as higher than it might be

on a credit card or loan application:

(with no verification of income required)

 

For example, maybe your income fluctuates,

 

 

If you make your payments for several months or years,

then fall on hard times and are no longer able to

continue making your payments.

 

1) Do the banks work with you?

 

2) Do they look into this?

 

3) Can you be accused of anything.

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if it's been several years, it may not be a problem.

 

if it hasn't and is recent and you misused the card and couldn't make payments from about 6 months on,

 

then you could be charged with Fraud under your state laws.

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