Personal loans

It takes a little crooked mind to bend the rules. And, perhaps the Institute of Payroll Professionals has exposed one such trick. Yes, I am talking about forged payslips being purchased by the borrowers to get more personal loans.

I think this small time manipulation has the potential to erupt into a big source of trouble. Our nation has already earned the notorious distinction of being the most debt-loving nation in the Europe. God knows, why many Web sites are making it easy for people to get huge personal loans that they may never be able to repay – by giving them fake payslips. I totally agree with Maurice Cheng, CEO of the Institute of Payroll Professionals, who quoted: “To provide a payslip to someone where you have no proof of their earnings has to be deemed fraud.”

A payslip or a Form P60 is a valuable document issued by an employer certifying the details of the employee’s salary, tax, etc. Many web sites offer ‘Duplicate’ pay slips for a small fee without carrying out the official checks on the information provided by the customers. Well, faked payslips are in no way a solution for those financially stretched consumers but a problem that may rather multiply their existing financial woes.

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