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Author Topic: do you report your income correctly when applying?  (Read 2961 times)

Offline meshugener

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do you report your income correctly when applying?
« on: February 22, 2012, 05:19:52 PM »
Vote yay or nay and your reason why. Do you (somtime) provide false income when applying for a CC? If no, what prevents you from doing so? I guess 98% of apps aren't verified for income
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Offline HelpMe

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Re: do you report your income correctly when applying?
« Reply #1 on: February 22, 2012, 05:22:20 PM »
This should be moved to the ethics thread.
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Offline AsherO

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Re: do you report your income correctly when applying?
« Reply #2 on: February 22, 2012, 08:35:55 PM »
Quote from: meshugener on February 22, 2012, 05:19:52 PM
Vote yay or nay and your reason why. Do you (somtime) provide false income when applying for a CC? If no, what prevents you from doing so? I guess 98% of apps aren't verified for income

Please define 'false'.
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Offline meshugener

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Re: do you report your income correctly when applying?
« Reply #3 on: February 22, 2012, 08:40:46 PM »
You say your annual incom is $200,000 while its only $40,000
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Offline AsherO

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Re: do you report your income correctly when applying?
« Reply #4 on: February 22, 2012, 08:48:33 PM »
Quote from: meshugener on February 22, 2012, 08:40:46 PM
You say your annual incom is $200,000 while its only $40,000

What if I'm reporting household income? What about off-the-books income?
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Offline meshugener

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Re: do you report your income correctly when applying?
« Reply #5 on: February 22, 2012, 09:06:58 PM »
I wouldnt consider household false, but off the books - oh ya!      And what about totaly not true? Any prob with that?
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Offline AsherO

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Re: do you report your income correctly when applying?
« Reply #6 on: February 22, 2012, 09:09:55 PM »
Quote from: meshugener on February 22, 2012, 09:06:58 PM
I wouldnt consider household false, but off the books - oh ya!      And what about totaly not true? Any prob with that?

Legally? Ethically? Halachically?

What are you asking?
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Offline meshugener

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Re: do you report your income correctly when applying?
« Reply #7 on: February 22, 2012, 09:51:09 PM »
Its not legal. Its not ethics. It "may" also be not halachic. But any prob with the CC company? Do you think they might come up on it? Any chances it may raise a flag with the IRS or with your saftey net programs?
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Offline Ergel

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Re: Re: do you report your income correctly when applying?
« Reply #8 on: February 23, 2012, 08:39:04 AM »
Quote from: meshugener on February 22, 2012, 09:51:09 PM
Its not legal. Its not ethics. It "may" also be not halachic. But any prob with the CC company? Do you think they might come up on it? Any chances it may raise a flag with the IRS or with your saftey net programs?
I would think it is a legal issue (not criminal but beach of contract)-when you click submit on your application you agree that everything you wrote is true and it is not. I would think it's a halachik issue as well
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Offline Drago

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Re: do you report your income correctly when applying?
« Reply #9 on: February 23, 2012, 09:55:28 AM »
Quote from: Ergel on February 23, 2012, 08:39:04 AM
I would think it's a halachik issue as well

But we can't put a value on mitzvot. They have infinite worth.
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Offline AJK

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Re: Re: do you report your income correctly when applying?
« Reply #10 on: February 23, 2012, 09:59:38 AM »
Quote from: Ergel on February 23, 2012, 08:39:04 AM
I would think it is a legal issue (not criminal but beach of contract)-when you click submit on your application you agree that everything you wrote is true and it is not. I would think it's a halachik issue as well

Says who?
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Offline Ergel

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Re: Re: Re: do you report your income correctly when applying?
« Reply #11 on: February 23, 2012, 10:14:01 AM »
Quote from: AJK on February 23, 2012, 09:59:38 AM
Says who?
That law is for the credit card companies, when the don't state the interest rates on an application
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Offline AJK

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Re: Re: Re: do you report your income correctly when applying?
« Reply #12 on: February 23, 2012, 10:49:03 AM »
Quote from: Ergel on February 23, 2012, 10:14:01 AM
That law is for the credit card companies, when the don't state the interest rates on an application

You're right, I misread.

The applicable law is Title 18 of the U.S. Code, Section 1014, and it covers anyone making false statements with the intent to influence a lender’s decision on granting credit.
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Offline gozalim

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Re: do you report your income correctly when applying?
« Reply #13 on: February 23, 2012, 11:51:54 AM »
Quote from: Reuven on February 23, 2012, 09:55:28 AM
But we can't put a value on mitzvot. They have infinite worth.
ugh!
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