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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 Current LiabilitiesSpontaneous Current LiabilitiesShort-term obligations that automatically increase and decrease in response to financing needs, such as accounts payable. Current liabilitiesCurrent liabilitiesDebts owed by a company which are due for settlement within 12 months. These include creditors and taxes due etc. 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. Nonmonetary assets and liabilitiesNonmonetary assets and liabilitiesAssets and liabilities with noncontractual payoffs. Further SuggestionsCurrent liabilitiesPension liabilities Permanent spontaneous current Liabilities Monetary assets and liabilities long term liabilities Spontaneous Liabilities contingent liabilities |
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