I have two roommates. None of us have any financial obligation to each other, other than paying rent and utilities. When asked 'What is your Gross Annual Household Income?', do I respond with MY gross annual income, or with the COMBINED gross income of me and my two roommates (my household). Note: We rent, there is no mortgage.
2006-09-08 05:40:23 · 12 answers · asked by patrick_c_a 1 in Business & Finance ➔ Credit
You should only use yours-- they are trying to figure out how much they can give you-- not all of you. "HOUSEHOLD" is generally used becuase typically it is a married couple with kids-- so the income is all counted.... in your case, just use your own, and if they ask for rent, only include your portion...and that goes for utilities, too.
2006-09-08 05:43:35 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I could give you a long drawn out explaination of how to compute gross income for this purpose. It would include evrything from Wages to Investment income and what dudctions to deduct from the dollar amount.
But in an effort to not confuse you I will take the short approach. Go to your tax advisor and ask him/her to establish a dollar amount for you to show on the credit application.
Above all remember this, you are under no obligation to show Alimony or Child support received on a credit application.
2006-09-08 13:30:51 · answer #2 · answered by mikeae 6 · 0⤊ 1⤋
They are asking for you income before taxes are taken out. And if you file alone on your income taxes, the you would only proivde your gross income not yours and your roomates. Unless you all were trying to buy a house or something like that together.
2006-09-08 12:45:51 · answer #3 · answered by slanteyedkat 4 · 0⤊ 0⤋
They want the amount of income available to pay back what you borrow. Unless your roommates are willing to be responsible for the debt, your income is the number they need.
2006-09-08 19:33:20 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
Go ahead and use everyone's income. They are your household and technically can be counted as your total income. Credit card companies do not check your actual income, it is a stated amount, so you shouldn't have any problems with using the higher amount.
2006-09-08 12:48:21 · answer #5 · answered by ? 2 · 0⤊ 1⤋
Just respond with your gross annual income.
2006-09-08 12:44:37 · answer #6 · answered by eagle 2 · 0⤊ 1⤋
Only your own gross. "Household" implies legal tax purposes (i.e. you & spouse, you & elderly dependent parent, etc.). Just remember you ARE permitted to to report your rent amount and utilities as only the portion YOU are responsible for so if rent is $600 divided by the three of you, you only have to list $200/month.
2006-09-08 12:49:50 · answer #7 · answered by Anonymous · 0⤊ 1⤋
That's ur personal credit...so u can just use yours...now if u are applying to rent a place then u put all three incomes....
2006-09-08 12:45:29 · answer #8 · answered by ♦cat 6 · 1⤊ 1⤋
Use yours as stated on you income tax form
2006-09-08 12:46:12 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Amanda is right, do not use others income when you want money for yourself, such misrepresentation may lead to the problems.
2006-09-08 12:47:09 · answer #10 · answered by Anonymous · 1⤊ 0⤋