Hi - for anyone on severance (outside of the 60d leave window) - have you tried to get a loan that requires verification of employment or pay stubs? What does our beloved WF do when asked for folks on severance?
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let us keep it simple no income no loan for you- go find a job
"It will show you are on leave, and your paystubs show displacement. I know that getting a loan when you know you are displaced could be viewed as fraud."
Getting a loan when you are displaced cannot be viewed as fraud. What kind of statement is that? The only way it could be fraud is if you lie on the credit application.
When in severance, don't you have access to Teamworks At Home? Just a limited view?
Credit companies look for your long term financial capability. Your severance package will not last that long. So once you are termintaed, it will be very difficult to obtain a loan unless you can show them that you have long term cash inflow for several years.
It will show you are on leave, and your paystubs show displacement. I know that getting a loan when you know you are displaced could be viewed as fraud.
right - the work number is who WF and everyone else uses - the question is what does WF report to them when you are on 60d working notice or severance. Does it just say terminated? curious if anyone has ever checked
This is a good topic that every displaced employee should be aware of. There is a third party employee verification system that almost every major company (including WF) uses: theworknumber.com. It can provide you with the necessary information.
show them your severance details and a copy of your bank statement showing the bi-weekly deposits