In many conventional careers, employees are given pay stubs with their checks on a regular basis. A pay stub indicates the amount of gross wages, net pay and other information about deductions and payments made on the employee’s behalf. The IRS advises citizens to keep up to seven years’ worth of pay stubs for a variety of purposes, including mortgage applications, rental agreement applications, application for government assistance and social services and other things. However, even though good wages are made, escorts don’t receive pay stubs for the work they do. Pay stubs, proof of employment and 1099 documentation don’t exist for many escorts, which can cause plenty of problems when trying to maneuver the world.
- Proof of employment: Many creditors require proof of employment in order to grant a line of credit. Credit card companies often require proof of employment in order to issue any kind of credit card, unless it’s a secured card. Mortgage companies require proof of employment to process a loan. Companies that make automobile loans also require proof of employment. For an escort, this is a challenging concept. Escorts are self-employed, but it’s difficult to explain one’s business or name high-profile clients. Most escorts must stick to vague statements about being self-employed in order to bypass that legal requirement.
- Many landlords require evidence of several months’ worth of pay stubs before approving a rental agreement application for an apartment, condo or house. Landlords simply want to verify that the applicant has enough money to pay for the rent on a regular basis. Escorts have to find a way to circumvent this requirement, as it is rare for an escort to have pay stubs as a result of her line of work.
- Government agencies require pay stubs as proof of income for many social services. Most require at least two months’ worth of pay stubs in order to grant state-funded healthcare, food stamps or other assistance. Most escorts don’t fit into these guidelines, but once in awhile, a few slow months can cause an escort to hit bottom and need a hand up.
- Taxes are much easier to figure if you have pay stubs or a W-2 detailing how much income you made over the course of an entire year. However, escorts aren’t technically employed by anyone, so pay stubs and W-2 forms don’t exist in the escort industry. Careful record keeping is necessary to replace these forms.
There are several ways around needing these forms of documentation that an escort may exercise in order to function in the world. For instance, an escort may be able to produce 1099 forms as substitutes for pay stubs when it comes to producing income for mortgage loan applications or rental agreement applications. Escorts who are independent contractors and work with an agency can receive 1099 forms as a result of their involvement with the agency. The 1099 reflects the gross income the escort received from the agency.
Also, escorts may produce previous tax returns as proof of income for loan applications and other documents that require income proof. However, if an escort is relatively new to the escort industry, she may not have enough years’ worth of income tax returns to prove her income. Escorts who have several years’ worth but are bad record keepers may call the IRS for lost copies of their returns in order to provide to lenders and landlords, if necessary.
Bank statements often provide useful information that potential creditors of landlords may use to determine whether an escort has sufficient income. Bank statements should show a definite cash flow trend, along with the amount of money that goes out each month. An escort should be able to provide proof of her income by pointing out regular deposits and credits to her accounts on her bank statements. If an escort doesn’t have several months’ worth of bank statements handy, she can call the bank and request them or download them from online banking portals.
Escorts who are challenged to find a landlord willing to approve a rental agreement application without proof of income or employment may find that prepaying for rent makes a landlord’s worries disappear. Offering to pay three months of rent often remedies the problem of having no pay stubs. If you’re applying for a 12-month lease, provide three months rent to cover months 10, 11 and 12 of the lease. Most landlords will agree to approve an application that is 25-percent paid already.
If all else fails, offer to provide a copy of your impressive credit report to the lender, creditor or landlord. It will show you have a habit of paying bills in full and on time. It demonstrates that you can be trusted with a line of credit, and it shows that you are responsible with your finances. Each citizen in the U.S. is entitled to one free credit report per year from the three reporting agencies: Experian, TransUnion and Equifax. If you don’t have a good credit score or have a few black marks on your report, don’t use this alternative.