![Man signs paperwork in a coffee shop](https://www.bankrate.com/2020/08/23153741/Lying-on-a-personal-loan-application-is-a-bad-idea.jpg?auto=webp&fit=crop&width=230&height=150)
Lying on a personal loan application is a bad idea
Lying on a personal loan application may lead to serious financial and legal issues.
Your debt doesn't have to be tied to guilt — there are ways to ease it and empower yourself by being strategic about what and when you borrow.
— Rhys Subitch
Rhys Subitch is a Bankrate editor who leads an editorial team dedicated to developing educational content about loans products for every part of life. Rhys has edited articles, reviews and guides covering a broad range of topics in the consumer loans space, from debt consolidation to buying a car. Their experience spans student loans, auto loans and personal loans, and they have developed a passion for helping readers take control of their finances.
While Rhys has worked with credit cards and insurance in the past, they settled into loans content, where they have developed their expertise. In the past nine years, Rhys has researched, edited and written for several independent publications, startups, a university and a Fortune 500 company. Seven of those nine years have been devoted to personal and business finance content.
When Rhys isn't working, they enjoy spending time editing their husband's art, reading and watching hockey. They currently reside in Tacoma, Washington.
Rhys wants you to know:
My first auto loan was from a used car dealership. I didn't fully understand the lending process when I walked in, and because of that I got stuck with a term that was way longer than I wanted to be paying off my starter car. My second time around I did my research, got an excellent rate and a medium term, and I’ve paid off my car well before I want to trade it in.
Your debt doesn't have to be tied to guilt — there are ways to ease it and empower yourself by being strategic about what and when you borrow.
— Rhys Subitch
Lying on a personal loan application may lead to serious financial and legal issues.
Several factors go into the timing of a vehicle purchase. Here’s what to consider.
Check terms, amounts, funding times and cost, to pick the best small dollar loan.
If you’re considering cosigning a loan, know your rights and responsibilities.
Citizens Debt Relief prides itself on consistent communication with its clients regarding the status of their debt.
DMB Financial offers well-rated service, but few details on its website.
Pacific Debt Relief helps you settle your debts by doing all the back-end work for you, like negotiating and communicating with your creditor. Make sure you have the required documentation before applying.
Money Management International offers multiple services to help manage your debt alongside its free credit counseling service.
Don’t confuse these soundalikes. They’re quite different.