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Liabilities |
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LiabilitiesBasically, liabilities are debts that you have and the regular outgoing payments that you make.The reason you must show your bank statements is usually to help the underwriters identify anything in your current expenditure that may impinge upon your ability to repay the loan. They want to know about any other mortgages, debts, credit cards, HP agreements, loans, overdraft facilities, maintenance and court orders. You will normally have to show three to six months worth of bank statements to help demonstrate that the figures you provide them with are accurate.LiabilitiesThe debts of a person or company. See 'current liabilities', 'long term liabilities', 'contingent liabilities'.Similar MatchesSpontaneous LiabilitiesSpontaneous LiabilitiesObligations that arise automatically in the course of operating a business when a firm buys goods and services on credit. Permanent spontaneous current LiabilitiesPermanent spontaneous current LiabilitiesThe minimum level of spontaneous liabilities that is always maintained by a firm. Existing liabilitiesExisting liabilitiesExpenses taken into account by a mortgage lender when assessing an applicant’s ability to repay the loan. These include loan repayments, maintenance payments etc. Other long term liabilitiesOther long term liabilitiesValue of leases, future employee benefits, deferred taxes, and other obligations not requiring interest payments that must be paid over a period of more than one year. Current liabilitiesCurrent liabilitiesAmount owed for salaries, interest, accounts payable and other debts due within 1 year. Further SuggestionsMonetary assets and liabilitiesSpontaneous Current Liabilities Nonmonetary assets and liabilities contingent liabilities long term liabilities current liabilities Pension liabilities |
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