Regarding Bank Loans

• Playstation 2

  13 Mar 10, 19:44

  Hi forumites, first off I'd like to seek help regarding taking a bank loan for condo. I tried many times but was very unsuccessful so hope to find some constructive answers here which maybe able to help in my situation. For the past years, I made all my money through the internet and people will transfer the money for each sales into my account hence I do not or know how to pay income tax at all for the money I made. I've kept all the bank statements every month for all the money I made a month to prove my income but even applying for a credit card, they're asking for my income tax statement. In my situation, how can I get a bank loan? Any constructive suggestions will be greatly appreciated.
• maxtor

  18 Mar 10, 23:52

  Hi,

  without some form of tax statements it is very difficult to prove your income. Proceeds from a bank account is usually not accepted as the bank needs to know that u have an ability to service ur loan. What you can do is to find a joint applicant in ur loan application?

  for application of credit card u would need to produce income documents as well. may i propose for ur case u consider using secured credit cards, which is to pledge a fixed deposit (usually $10k-$20k) against ur credit card application. it is usually easier this way.