Duringer-Legal Corner | March 2, 2009

Written by AACSC | 01 March 2009

A. The best way to verify self-employment income is to actually see his original bank statements. Ask him to provide original and complete bank statements for all of his accounts for at least six months, preferably longer. Verify that the deposits to the account are regular, and are sufficient to pay his expenses. Look for a high average balance, and sufficient reserves in savings. Also verify that his future income will not be interrupted. Request his “business” information regarding his EBay seller
account, and verify that he truly is in “business” selling stuff regularly on EBay. The next several years will find many of our residents engaged in alternate forms of employment, and non-traditional sources of income will be more common. Be flexible, and use common sense in evaluating a prospect’s financial capabilities.