Personal Loan Income Question

Anonymous · ‎06-03-2017

My income for 2017 has more than tripled since 2016 due to more responsibilites within the same company. I applied for a personal loan through an online lender and submitted paystubs. Now they are asking for w2. My 2016 w2 does shows three times less than what I currently earn. Obviously I submitted it and I'm waiting on their response on Monday...but in the meantime, I am wondering if anyone knows if that will be a factor for denial. My current pay stubs show my year to date earnings reflecting the raise but was wondering if anyone else here had a similar experience?

Anonymous · ‎06-04-2017

If they were to deny you because your tax return doesn't match up with your most recent paystub, then I would offer to send them bank statements showing the deposit of those paystubs.

It'll prove to them that you indeed are making that amount of money now.

Then another further step or action could be that you get with your HR department for them to give you a letter showing your raise in pay from this amount to that amount on a certain date.

I can't imagine that you'll have a major problem getting them to approve it.

Anonymous · ‎06-05-2017

@VelosterBEAR wrote:
If they were to deny you because your tax return doesn't match up with your most recent paystub, then I would offer to send them bank statements showing the deposit of those paystubs.

It'll prove to them that you indeed are making that amount of money now.

Then another further step or action could be that you get with your HR department for them to give you a letter showing your raise in pay from this amount to that amount on a certain date.

I can't imagine that you'll have a major problem getting them to approve it.

+1 This.