Car Loan Verification?

[MSH]

Is it normal for a loan company to call your place of business to verify employment?

I was approved for a car loan from 722, and told they might call my business to verify employment. Is this normal....won't my work know this is for BK?

[NoMoreRed]

Yes it's normal. They will call to verify that you are still employed and should not mention anything regarding a bankruptcy. Anytime you apply for a loan most companies will verify employment.

[MSH]

What are the chances they say they are from 722 redemption? That might raise a couple of flags.

[relief13035]

As an employer, I am called often for verification of employment for my employees. I've even had them call from Rent-A-Center. I'm not sure if they will identify themselves as 722, but I have to tell you, that prior to filing BK myself, I had never heard of 722. So if they had called me for verification, I wouldn't have even given it a 2nd thought.

[NoMoreRed]

If anything is said, I would think it would be that they are calling from US Bank since that is who funds the 722 redemption loans.

[relief13035]

Most bosses right now should understand calls like this in this economy. I even get collection calls for my staff. I let them know that they must stop calling as this will effect their job. Not that I would fire anyone for receiving a collection call, I am just trying to help my employee get the calls stopped.