Why would I need to give this to them and how important is it to give to them?
2007-03-02 00:02:39 · 6 answers · asked by aj 2 in Business & Finance ➔ Taxes ➔ United States
I already have the Motorcycle though. I'm assuming I was loaned the money because my bike is in my garage. Also, I did fudge my earnings a bit. I was trying to impress the very attractive sales woman. If I do not furnish the 1040 what happens and if I do and the numbers don't match what happens?
2007-03-02 00:16:17 · update #1
They are checking that you have enough income to repay them. They also want to see if there are any superior claims on your income (alimony, back taxes) that will get paid before them. Finally they want to know where you are employed should they need garnish your wages. You don't have to give it to them, however, they don't have to give you a loan.
2007-03-02 00:14:46 · answer #1 · answered by Thinker 7 · 0⤊ 0⤋
They want to verify your income. If you don't provide it, they may not approve your loan.
Addendum: If you already have posession of the bike I guess the Brit description of you would be most apt: Thicker than 2 short planks.
See my post to your other question on the same matter. Classic case of thinking with the wrong head.
2007-03-02 00:09:57 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Proof of income. If you cannot prove that you have a job and are making what you say you make, they will not give you the loan. Alternatively, they could ask for your last several months pay advices.
2007-03-02 00:12:00 · answer #3 · answered by Sane 6 · 0⤊ 0⤋
Technically, specific on account which you agreed they might supply you the money (which bought the bike) and you may supply them the call for the agreed upon term. So technically they might do little or no as they have not got any call to have a repossession out on the bike. even nevertheless, they might declare you have been in default of your contract. wager it would matter how a lot you prefer to press your success! :)
2016-12-18 04:03:40 · answer #4 · answered by kull 4 · 0⤊ 0⤋
They want to confirm your employment and income history before they will decide to lend you any money.
Its part of the credit check.
2007-03-02 00:08:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they want to see how muchmoney you have earned last year to see if you are able to carry a credit
2007-03-02 00:07:08 · answer #6 · answered by silverearth1 7 · 0⤊ 0⤋