Credit card applications usually have two income questions - annual salary, and total household income. The primary applicant will list his/her salary, but inflates the total household income with his/her income PLUS the income of anyone else residing in the household. Do potential creditors ever verify the sources of any amount other than the salary?
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I think they TRUST what you tell them and when you signed the papers its legal and binding, so later on down the road if you get into financial trouble and have to claim (BK for example) than you lied about you income when you signed for forms and that is considered fraud when you inflate you income.
Just my guess, CMIYCJuly 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo: -
Its usually nothing to worry about in the case of a bk filing, unless you have an extreme amount of unsecured debt, such as owing 25k+ on single cards.
Creditors object quite rarely. And when they do object, they're only trying to recover money, not have you prosecuted for submitting an application that they themselves did not take the time to verify.Comment
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