When Might You Need Employment Verification

Everybody needs a source of income. It’s tough to survive without one. Unless you’re independently wealthy or have won a ton of cash in a lottery, that means working for a living. Many own their own business but the majority work for someone else in some capacity. Naturally, you are aware of the fact that you work, what you do, where you are employed, and how much you earn. Your family, friends, and certainly co-workers know some of these details as well.

However, there are times when you will need you will need to verify your employment to someone else. Someone who is not just going to take your word for it. You will need proof of employment.

Applying for a Mortgage

If you decide to buy a house, you will need to apply for a mortgage. It’s a big purchase and requires borrowing a lot of money. Mortgage lenders want to be sure you have the means to make your payments in a timely fashion. Since the mortgage crisis of 2008, most lenders have even stricter requirements for approval.

Your employer can provide you with an employment verification letter or you may use paystubs. If you own a business, you’ll need financial records. Self-employed people are a special case. You may need help obtaining proof such as Uber verification of employment. There are companies that can assist with getting employment verification.

Applying for Loans and Credit Cards

There are also situations in which you may a loan. Buying a car is one of the most common. You will need to be approved for automobile financing or leasing. Just as mortgage lenders, car credit companies will want proof of employment.

There are also other types of loans you can apply for that will require proof of employment. Financing for college tuition, home improvement, and debt consolidation are three examples of these kinds of loans. Credit cards, especially the major ones, also generally will want proof of employment before issuing you a line of credit. Any lender takes a risk and needs to ensure that you have the means to pay back the loan.

Applying to Rent an Apartment

Not everyone buys their own home for a variety of reasons. Many prefer to rent a house or apartment. It may be because they can’t afford to purchase or don’t want the responsibility of ownership. Whatever the reason, landlords often require filling out an application. Part of that process is providing proof of employment. Going through the expense and labor of eviction is not worthwhile. Before renting a property, landlords want to know that their new tenant will be able to pay rent in a timely fashion for the entire length of their lease. They will ask for employment verification.

Having a job is essential to providing oneself with housing, food, clothing, and other means to live. There are several situations that will require you to provide proof of employment to another party. This generally involves borrowing. You can ask your employer for a letter, collect pay stubs, or hire a company to help you obtain the employment verification you need.