Why It is Illegal To Make Fake Pay Stubs.
Your lender will need assurance that the salary you say you are getting is actually right which means submitting your pay stub and it is crucial to do the right thing if you want to avoid going to jail. It might be true that you need the loan badly but making a fake pay stub is going to put you in more trouble than you already are in. This is a problem that is common among loan applicants who are seeking financing to get a car. 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. Those who have lost their employment or have just started working will face a pay stub problem too which can send them to the extreme edge.
Even though you might think that the fake pay stubs will solve your problems, the hope you are promised is usually false. In the generation of the pay stub, the people doing the work will change details of your education and the grades, your place of work, how long you have held the position you are in and even the amount of money you are getting. 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. Since you may need a loan in the near future, you should be working on making the relationship of have with the lender better and not tearing it apart with lies. 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 applying for the loan through a middleman like a rental management company, a loan broker or car dealership, you might end up destroying any relationship they had built with the lender because it will show that they were not thorough when running a background check on you. 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.