Using Fake Paystubs and Documents to buy a car
There is a trend in lending that is increasing at a rapid pace, fake paystubs and documents. These are everything from paystubs, to bank statements, utility bills and lately, social security award letters.
It started out as something lenders, and dealers, would see occasionally. But as time went on, more and more people have started to use these to get loans on things, mainly cars.
WHY DO PEOPLE USE FAKE DOCUMENTS?
People use fake documents for a variety of reasons. The most simple is that they cannot prove their income or residence traditionally, so they turn to manufacturing documents. The most insidious is people trying to steal a car and keep it or even get it to another country.
HOW DO THEY MAKE FAKE PAYSTUBS?
Where there is a demand, the market will create a supply. Fake documents and fake paystubs are no different.
It started as people trying to use photoshop, or some other program, to manufacture fake documents. This required a fair amount of skill and effort on the part of the user. These documents were usually quickly noticed and rejected,.
After awhile, fake paystub generators popped up online. If you google “fake paystubs”, all kinds of templates and services offer you a quick, easy to use “fill in the blank” document. These looked much better than the originals, but still are fairly rough and easy to spot.
Then the professionals came along. Advertising on facebook and google, they promise to not only create your documents but to verify the job too! Sounds great… but not all is rainbows and unicorns.
DO THEY WORK?
The question most people have about fake documents is “will it work?”. The answer is usually, no.
Fake paystubs almost never make it to the lender, but when they do the police usually get involved. – Tina, owner Queen Motorcars
The problem is they are inherently fake. Lenders off all sorts (credit card, mortgage, automotive) use a system called Lexus Nexus, or a compeditor, to verify all information.
This means the consumers information is checked against banks, utilities and even the federal governments tax system, to verify they are real. When you pay utilities, or even taxes, that info goes into a system that is then available to be accessed for a price. Because of the rampant use of fake documents, everyone is using one of these systems now.
This means that almost instantly all fake documents are found out to be just that, fake. This leads to a rejection from the bank almost immediately.
REPERCUSSIONS OF FAKE DOCUMENTS
This is the real rub. While all these sites promise that the paystub will work “or your money back”, or some other nonsense, there are real problems with fake documents.
The first problem, is blacklisting. Fewer banks than every are islands of their own, most are owned or affiliated with other lenders. When a consumer tries to use fake documents, they are banned from working with that lender and their affiliates….. forever. This can be devastating, one fake document could ban you from a huge percentage of lenders available, for the rest of your life.
The second problem is even worse. First, let’s make this clear, fake documents are a federal crime. They can charge the person trying to use them to acquire goods with dozens of different charges, anything from forgery, to wire fraud. All of which range from probation up to 20 years in prison. More and more lenders, and dealers, are pressing charges on these customers. All you have to do is google it, and you find hundreds of results. These people are not getting slapped on the wrist either.
Robbins forged pay stubs for used-car loan, prosecutors say – Chicago Tribune
WHAT SHOULD PEOPLE DO INSTEAD OF USING FAKE PAYSTUBS
A large majority of people using fake paystubs or fake bank statements etc, are using them because they think they need them. Usually there is a way around this.
First, we suggest getting all the legitimate documents a person can to help themselves. There is almost always a way to get the loan done legitimately.
For income enders will now accept bank statements, Paypal receipts, Vemo, Cash App, Apple Pay, you name it! So gather whatever you can to prove you have that income. If it’s for a cash only business, they need to start depositing their tips/cash TODAY!
For proof of residence a utility bill is best. But if you live with family or friends that can be hard. Junk mail, cell phone bills, or a lease with all pages can work too. You can usually go online to your bank and cellphone provider and change your address there. It sometimes takes 30 days to update, so people need to plan ahead.
Lastly, they need the right dealership. Search google reviews, look at the inventory and pick the right dealership to help. Great reviews about helping with bad credit and newer cars is the best bet. The lenders usually like the newer, lower mileage cars, for customers with unique loans. It helps them feel more warm and fuzzy.
PARTING WORDS OF WISDOM
Some people get desperate and think that whatever it takes to get a loan is ok. People need to avoid this trap. In the past fake documents were not prosecuted and had little drawback of just “trying”. Today though, lenders and car dealers, take this very seriously. This can lead to huge consequences for the person using them.