.Are unemployment stubs proof of income?
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.Are unemployment stubs proof of income?
I have a loan with wells fargo dealer services and they repossessed my car. I said that I needed to send in a certain amount of money, plus stubs, insurance, etc. After I made the payment and send in the required documents, they said they could not accept it because I’m unemployed. So I would need to make the full payment. What can I do in this case? I did send them the unemployment stubs that I get per week but they will not accept that. It is only a $1700 balance left on the vehicle. I need advice before making anymore payments. They did not tell me upfront about not accepting unemployment stubs.
Asked on December 28, 2012 under Bankruptcy Law, New Jersey
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Custom and practice in the banking industry is that payment stubs are proof of employment but unemployment benefit stubs are not. The reason is that for someone to be receiving unemployment benefits means that the person who is receiving such is not employed.
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