A loan without question to employers is the rule and not the exception. It is understandable that borrowers do not want their boss to learn that they have taken out a loan. Anyone who has any concerns in this regard can be reassured. The loan without question to employer is a matter of course.
Can the bank ask the employer?
As a rule, a loan without employer consultation customers give, because the data protection regulations of the banks allow appropriate information only in strictly regulated exceptional cases. For example, a bank needs the customer’s explicit consent to ask the employer and can not give the exact reason for the demand. The mere mention of the address is not enough. With the indication of the company name, the address and the telephone number, a loan applicant has not yet authorized the bank to start a consultation there.
The amount of income the bank learns from the submitted salary statements. If she wants to know the status of the employment contract, she can also request that she be submitted to the loan applicant. It can be seen from this whether the employment contract is fixed-term or permanent. For large sums of money, banks require a certificate from the employer that the existing employment contract has not been terminated. This certificate must bring the loan applicant. A query to the employer by the bank is not made.
Borrowers report that banks occasionally call employers to talk to the claimant. But this is not an employer inquiry. The loan without question to employers is also guaranteed here. However, it may be that the case officer has a specific question that the loan applicant can answer by phone.
In most cases, the bank grants a loan without question to employers, even if it grants the appropriate right in the loan application. If the client were to delete the passage authorizing the consultation, he would raise legitimate doubts as to the accuracy of his information and risk losing his credit. Most contracts are now designed so that this passage no longer exists.
Inform the employer about the borrowing itself
If an employer’s inquiry is necessary for exceptionally high loan amounts. This can be the case, for example, with mortgage lending or real estate financing, if the borrower himself is looking for a conversation with the employer. There are many larger employers who provide an employer loan on favorable terms for such cases.
Doubts about the authenticity of the submitted documents
From time to time, borrowers may submit documents that are obviously fake. In cases where credit fraud is suspected, the banks are entitled to make an employer inquiry. Confirmed by the inquiry, the suspicion, the loan is not paid. An ad for credit fraud can also occur.