*** *** *** ***
*** *** *** *** *** *** **
*** ***
*** *** * ***
Please be advised that I just saw this complaint on your web site and forwarded it to the proper individuals for a
response For some reason I don’t receive emails from the Revdex.com and have to check your web site every couple of weeks, therefore the delay We will respond ASAP
Thank you,
Joyce Gericke
Executive Assistant
614-221- ext
*** *** requested further review of how Telhio calculated the income available to be used for qualifying his loan. He noted in his response that “ he is permitted to write off at the end of the year all items that are tax deductible.” While tax laws allow individuals to claim expenses incurred during the year, these expenses reduce the amount of income available to the individual for personal use. As stated above, the negative amount stated above, is what is available for use to qualify for a loan
Please see page of the attached document
Thank you,
*** ***
[redacted]
[redacted]
I’ve read over the response from Telhio and the steps they took was unnecessary and unjust. This was a simple used car loan and all that was needed was check stubs to prove the income. I purchased a car through another lender that was very satisfied with my income and did not request a thorough search of 2 years of tax records. I have had 10 years of loans with Telhio and have paid them off with no late payments. [redacted] with Telhio at the [redacted] branch helped us fill out the application for this loan. He confirmed that this was not the normal process to request tax documents and felt that something was not as it should be and was concerned. The income from the [redacted] is sufficient income for any lender without all the hassle. Tax deductions should not have been a reason to decline this loan. All [redacted] carriers right off items such as mileage, bags, and supplies. That would be like saying that just because I have bills I don’t make enough money to buy a car, but of course I don’t have any bills so that wasn’t a factor. That’s just ridiculous.
Thank you,
[redacted]
[redacted] [redacted]
[redacted]
A review of the original loan application submitted to Telhio on June 24th, 2014 was conducted.
The original review for the loan resulted in the application being approved for the $9,000 request. The application was presented with income from 2 sources, [redacted] and the [redacted] The approval of the loan requires verification of the income earned and [redacted] presented a recent paystub from [redacted] along with 2012 & 2013 Joint tax returns.
The income for [redacted] was determined by using the gross income for the year equal to $9305 as of 6/18. This income was then broken down to a monthly amount by dividing the total by the 5 .5 months which it was earned. The result for this income amounted to $1619 per month. [redacted]'s tax returns do show self employed income from Newspaper Delivery, as evidenced by his Schedule C accompanying the returns. This is assumed to be derived from the [redacted] The net profit claimed is what is allowable for use as income. The tax returns show a loss of $26,071 & $918 respectively for the years 2012 & 2013. To obtain an average income, these amounts are combined and then dived by the 24 month period which it covers. Unfortunately, the result is a -$1124 per month. The original income claimed on the application at submission was a positive $2000 per month. The verified amount was then combined with the [redacted] earnings and results in a positive income of $495 per month to qualify as income for lending purposes. This amount was determined to be insufficient to qualify for the requested loan.
We believe that this is proof that the income claimed from the [redacted] was used in the qualification of the loan. There is W2 wages claimed on line 7 of both tax returns. Since this is a joint return, that income could represent earnings from both filers on the tax returns; therefor, the [redacted] income was determined by a recent paystub of [redacted].
We believe that this addresses the concern and desired outcome from the complaint.
*** *** *** ***
*** *** *** *** *** *** **
*** ***
*** *** * ***
Please be advised that I just saw this complaint on your web site and forwarded it to the proper individuals for a
response For some reason I don’t receive emails from the Revdex.com and have to check your web site every couple of weeks, therefore the delay We will respond ASAP
Thank you,
Joyce Gericke
Executive Assistant
614-221- ext
*** *** requested further review of how Telhio calculated the income available to be used for qualifying his loan. He noted in his response that “ he is permitted to write off at the end of the year all items that are tax deductible.” While tax laws allow individuals to claim expenses incurred during the year, these expenses reduce the amount of income available to the individual for personal use. As stated above, the negative amount stated above, is what is available for use to qualify for a loan
Please see page of the attached document
Thank you,
*** ***
[redacted]
[redacted]
I’ve read over the response from Telhio and the steps they took was unnecessary and unjust. This was a simple used car loan and all that was needed was check stubs to prove the income. I purchased a car through another lender that was very satisfied with my income and did not request a thorough search of 2 years of tax records. I have had 10 years of loans with Telhio and have paid them off with no late payments. [redacted] with Telhio at the [redacted] branch helped us fill out the application for this loan. He confirmed that this was not the normal process to request tax documents and felt that something was not as it should be and was concerned. The income from the [redacted] is sufficient income for any lender without all the hassle. Tax deductions should not have been a reason to decline this loan. All [redacted] carriers right off items such as mileage, bags, and supplies. That would be like saying that just because I have bills I don’t make enough money to buy a car, but of course I don’t have any bills so that wasn’t a factor. That’s just ridiculous.
Thank you,
[redacted]
###-###-####
[redacted]
[redacted] [redacted]
[redacted]
A review of the original loan application submitted to Telhio on June 24th, 2014 was conducted.
The original review for the loan resulted in the application being approved for the $9,000 request. The application was presented with income from 2 sources, [redacted] and the [redacted] The approval of the loan requires verification of the income earned and [redacted] presented a recent paystub from [redacted] along with 2012 & 2013 Joint tax returns.
The income for [redacted] was determined by using the gross income for the year equal to $9305 as of 6/18. This income was then broken down to a monthly amount by dividing the total by the 5 .5 months which it was earned. The result for this income amounted to $1619 per month. [redacted]'s tax returns do show self employed income from Newspaper Delivery, as evidenced by his Schedule C accompanying the returns. This is assumed to be derived from the [redacted] The net profit claimed is what is allowable for use as income. The tax returns show a loss of $26,071 & $918 respectively for the years 2012 & 2013. To obtain an average income, these amounts are combined and then dived by the 24 month period which it covers. Unfortunately, the result is a -$1124 per month. The original income claimed on the application at submission was a positive $2000 per month. The verified amount was then combined with the [redacted] earnings and results in a positive income of $495 per month to qualify as income for lending purposes. This amount was determined to be insufficient to qualify for the requested loan.
We believe that this is proof that the income claimed from the [redacted] was used in the qualification of the loan. There is W2 wages claimed on line 7 of both tax returns. Since this is a joint return, that income could represent earnings from both filers on the tax returns; therefor, the [redacted] income was determined by a recent paystub of [redacted].
We believe that this addresses the concern and desired outcome from the complaint.