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Yes, a payday lender may contact your employer to confirm your employer, but they will always be very discrete about this and never mention where they are calling from.

This will depend on the lender, not every lender does this. But even some basic credit card providers call your employer to confirm you are employed, so don’t be too surprised!

We understand. Not everyone wants to be called at work and especially to discuss a financial product. But it is important for some of the lenders working with Pheabs to confirm that every customer is fully employed and can afford to repay their loan. So a quick call to ask if Bob is there and they say he is, is perfect to confirm your employment.

But don’t worry, no one will ever speak to your boss or mention the purpose of their call, so you can rest and apply for a loan without worrying.

 

Will a Lender Call My Employer

 

There are three reasons why a lender might contact your place of work:

 

1. To prove you are employed – You must have a steady income of at least $800 a month to be eligible for a payday loan. Therefore, a lender may need to get in touch with you while working to verify your employment. If your lender calls your workplace and can get through to you, this allows them to confirm that you work there. They do not need to talk to your employer, only to be put through to you.

 

2.To confirm the information you have provided – Once you have submitted your details to a lender, they will contact you to verify your information. This includes how much you are looking to borrow and how long you need to borrow it. Typically, this takes place over the phone on your personal number or via email. However, if they have trouble getting through to you, they may try to reach you at your work number.

 

3. If you have failed to repay your loan – If you have not met the scheduled repayments on your payday loan, your lender will need to contact you. If they have not managed to get in touch via email or your personal number, they may try calling your workplace. A lender will only ever call your work to talk to you, not your boss.

 

Are There Other Ways to Confirm My Employment?

Yes, of course, if your loan application is being processed, you can show a pay stump or a copy of your bank statement to prove your employment and that you are getting paid every week or every month – and this shows confirmation of your job and that you can afford to pay your loan on-time.

Some lenders do not require proof of employment and will not ring your employer. But some might require proof of income and this is where sending documentation can help.

 

Can I Stop a Lender Calling My Employer?

Yes, if a payday lender or short term lender is calling your employer because you have skipped repayment, the best thing to do is speak to the lender yourself and come to an arrangement.

If you cannot make the full repayment that month or are behind on your collections, you can request some kind of repayment plan to pay off small amounts over a longer period of time.

Calling your employer is usually a last resort, so if you have been avoiding emails, calls to your cell and letters – well, they are probably going to call your employer next.

But don’t forget, they won’t tell your boss where they are calling from, but they will request to speak to you and this might be inconvenient and raise suspicions.

 

 

 

How Does A Payday Lender Decide If I Am Eligible For A Payday Loan?

A payday loan lender won’t contact your boss but will need to make sure that you meet the requirements necessary to be eligible for a loan. A lender will need to verify that you are a US citizen with a permanent US address. You will have to provide your date of birth to confirm that you are over 18. In order to request a loan, you will also need a checking account and a steady income of at least $800 per month. Your lender will require you to provide your employment details to confirm that you are receiving a regular wage. Lastly, you need is to be over the age of 18, so you’ll need to provide your date of birth.

 

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