I'm currently receiving public benefits from the Social Security Administration and my state's Supplemental Nutrition Assistance Programme (SNAP). I've been on these programmes for many years. I've been able to secure temporary jobs to boost my income.
Because of the COVID19 situation, I was able to get a stimulus cheque, and I invested $1,000 of it in stocks and mutual funds with an on-line broker. I managed to pay off all my credit debt thanks to my most recent temporary job.
However, I still have a rental obligation debt that I need to pay back, so I've been working on increasing my chances of getting loan offers by boosting my credit scores and raising my income.
When they ask for total annual income, I usually convert it to monthly income. My benefits are currently less than $1,000/month. But I'm wondering what would happen if I added the $1,000 from the money I have saved up in investments.
I know that some articles, like this one say that you can be held liable if you knowingly lie about your income.
But in this case, I don't know. Maybe this is more of a legal question...?
Any answers would be greatly appreciated.