is lying about being employed to a payday loan classed as fraud?

ive applied for a payday loan earlier today, got accepted, and just going through processing. It will only lend to people who are in employment. I dont have a job, but I said I did, and gave a work place address etc. My question is, is this classed as fraud, and do payday lenders actually check, as I did get accepted before they did check? Serious answers please

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  • !
    Lv 7
    7 years ago
    Favorite Answer

    Deception/false pretences.

    They check.

    Bad news for your credit history.

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  • 7 years ago

    No people in glass houses do not throw rocks....

    It is their job to check people out before granting applications...if they take you to court they will make themselves look like idiots and will seriously make a bad name for their company. Because they ended up in this position due to their own negligence, they should have done a thorough check on your credit value before granting it.

    I also read that some payday loan companies follow the rules and others do not, with that being said they might ask you to come up with the money in some other way in order to pay them back.

    They cannot call you and say your loan is now cancelled after granting it...but they might if that is what you want and have no other way to compensate them.

    Meaning they would prefer to settle this outside of the court...because to accuse you of fraud while they are running a fraudulent business where employees do not do their jobs properly would be nonsensical.

    Source(s): This is just a personal opinion of a final year law student and should under no circumstances be seen as pro bono legal advice. If you are in trouble please call an attorney in practice.
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  • 7 years ago

    As long as you did that on a phone call, I don't think that they can accuse you of fraud. A payday loan company should at least check those matters, not to believe you on your word. If they have not asked you at least for a paycheck proof, I don't know what to say about the reliability of such company, especially for giving you money without checking Maybe they will check and they won't give it to you the second time, as for accusing you of fraud, it is unlikely. It all depends on the laws of your state, really.

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  • 7 years ago

    Lol , in order for you to be accepted my friend "you had to sign a document page , "Pay-Day" loans are among the largest rip-off agents on the planet and prey on those that have lesser credit ratings for high percentage pay back.

    The contract you signed you can rest assured, they have all bases covered... ( I don't know if you have cash in hand) or if you put up collateral .

    In a civil suit against you (could take weeks) the prosecutors will argue "that you" fraudulently misrepresented yourself in a effort to gain monies.. on the other hand , in your defense the responsibility of the Contractuial Agreement represented to you from the company agent, failed to call for verification... therefore renders the contract questional by the judge.

    Now, if you have taken the monies "you will be ordered" to refund , and show's malicious intent on the behalf of the accused (you)

    POST SCRIPT

    You more than likely are dealing with a small loan, otherwise would have to place collateral for the monies. These loan folks are in and out of court daily, and use the judicial system based on signed contracts .

    If you have recieved the monies, you have to pay it back positively .. If you have not any monies in hand ..call them and state " you want to void the contract"! Most judges have reservations concerning company's that jilt customers with high pay back rates..

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  • Jeff T
    Lv 6
    7 years ago

    You lied to get money.

    There's no clearer definition of fraud.

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  • Anonymous
    6 years ago

    Are you in need of a loan today to pay off your bills?email them today at {destinykingsfinance@yahoo.com} to get the best available service of trust from them.

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  • Anonymous
    7 years ago

    If you put down a salary and they find out it's fraud, they can notify the IRS and then you'll have a real problem

    Source(s): Retired bill collector 35 years
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  • ?
    Lv 7
    7 years ago

    Yes it is fraud. When you put intentionally put phony information on an application it is classified as fraud.

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  • 7 years ago

    It could be considered fraud.

    Any good business person checks.

    Source(s): Knowledge.
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  • Anonymous
    7 years ago

    Yes it is fraud, you are obtaining monetary advantage through fraudulent means. Do they actually check, i guess only they know that.

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