Reply
Contributor
murat
Posts: 110
Registered: ‎01-27-2011
0

who accepts personal checks to proof of income?

hi

i m just wondering some banks doesnt accepts personal checks as a proof of income.who accepts it?

 

Community Leader
Valued Contributor
HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009
0

Re: who accepts personal checks to proof of income?

Are you saying that your employer pays you with a personal check? Can you show regular deposits to a bank account in the same amount from these checks. In most cases a bank or creditor is probably going to want to see your tax returns claiming your income. If you are being paid by personal check and not filing taxes on the income then your chances of obtaining credit are zero or less.

 

Forgive me if I misunderstood your question.:smileyembarrassed:

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


Take the FICO Fitness Challenge

Contributor
murat
Posts: 110
Registered: ‎01-27-2011
0

Re: who accepts personal checks to proof of income?

last week me and my wife went to DCU to get a car loan.They asked her to proof her income and she is a babysitter and gets personal check.They didnt accept it.Her credit is not too bad but they still asked.

Community Leader
Senior Contributor
StartingOver10
Posts: 4,581
Registered: ‎03-06-2010
0

Re: who accepts personal checks to proof of income?

[ Edited ]

murat wrote:

last week me and my wife went to DCU to get a car loan.They asked her to proof her income and she is a babysitter and gets personal check.They didnt accept it.Her credit is not too bad but they still asked.


Yes, if you borrrow money from a bank or a CU they are going to want to see proof of income. Proof of income includes tax returns and W-2's or 1099's. 

Sounds like your wife is not filing tax returns on her income. Why would the bank or CU give a loan to anyone if that person doesn't have the resources to repay the loan? If you can't prove you have income (you or your wife) then you don't have the resources to repay.

 

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}