What Is A Financial Statement Form?
A personal financial statement is commonly required when a person is applying for credit such as a loan or a mortgage. This form allows the creditor, typically a bank, to evaluate capacity of the potential borrower to repay the loan as the document outlines the applicant’s financial situation. Completing a personal financial statement is enough to provide a comprehensive report on a person’s financial status; however, when applying for credit, the applicant may be requested to submit other documents.
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