• Ledivin@lemmy.world
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    23 days ago

    I’ve always wondered what people with heavily commission based (or otherwise highly variable income like residuals or whatever) put on things like loan applications.

    Generally either last year’s income or an average of the last 3-5 years. Depends whether they’re trying to overestimate or underestimate, tbh.

    • toynbee@lemmy.world
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      23 days ago

      I once asked a salesperson who was in the process of selling me a car. He answered that he would just report the income from the previous year.

      At the time I was naive enough that it didn’t occur to me that loan applicants might want to shape the narrative so your last line would not have occurred to me.