Does getting a loan result in your employment info showing up on a credit report?
Is there any way of getting a loan or mortgage but avoiding reporting your employer?
Solution:Jump to solution
Most banks want to know you're getting paid from somewhere to pay off the loan, so this info (in many cases) may not be omitted.
Though, just to reassure you that taking a loan won't necessarily "expose" you for OE, unless your employer does periodic credit checks on you.
Some options:...
10 Replies
Solution
itchy-amethyst•8mo ago
Most banks want to know you're getting paid from somewhere to pay off the loan, so this info (in many cases) may not be omitted.
Though, just to reassure you that taking a loan won't necessarily "expose" you for OE, unless your employer does periodic credit checks on you.
Some options:
- Say your employer is your LLC
- Put self employed on the loan and show the first page of 2022 tax return
xenial-black•7mo ago
Data Point: Js may show up on credit report when used for applying for mortgage. Tho dates for the J do not show up on credit report
automatic-azure•6mo ago
So i can put my LLC but use the tax returns from my actual W2 job?
itchy-amethyst•6mo ago
That's not the conclusion you should be drawing
You use the tax returns that has your LLC included
When you pay yourself a salary you're giving yourself a w2
automatic-azure•6mo ago
Ah ok, but if I don’t have any contracts coming in I can’t use this 😔
multiple-amethyst•6mo ago
Lenders don't care how many J's you have. You only need to disclose a source of income to them if you're claiming that source as part of your income.
Say your income is $100k from J1
Your income from J2 is also $100k
Your total income is $200k
When applying for a loan, if you say your income is $200k, then you should disclose both jobs and provide proof.
If you say say you only have 1J, then you need to say your income is $100.
But again, lenders don't care how many Js you have, and sure as hell aren't going to tell your Js about it
xenial-black•6mo ago
i've heard it can accidentally leak out. Like lender calls J1 confirming u employed there and then offhandedly mentions J2
genetic-orange•6mo ago
Just FYI: your employer(s) can show up on a credit report.
unwilling-turquoise•5mo ago
You really want to qualify for things with one J income
afraid-scarlet•4mo ago
Just got another car loan, It does show up, no one ever seems to verify.
At this point if you want to drop a prestigious company name on the application to get it into the credit report you can probably do so