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Ask Lane Your Own Question
Category: Finance
Satisfied Customers: 12443
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I have to fill out a credit application. I the final column,

Customer Question

Hi, I have to fill out a credit application.
I the final column, the application asks for the following:
Total Liabilities
Net Worth
and then asks again for Total Liabilities
Why does the form ask twice for Total Liabilities, is there another calculation I need to
Submitted: 1 year ago.
Category: Finance
Customer: replied 1 year ago.
I though I paid $30 to get an answer in 30 minutes or less, not within a day. That was the deal I made, now I had to sign up for a monthly subscription and now I am reading my answer can be received in 10 minutes or less but always in a day. I just need my answer please in less than 30 minutes as this is what I though I agreed to.
Customer: replied 1 year ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 1 year ago.
No I do not what a phone call, just my written answer in 30 minutes or less as agreed. This is very confusing.
Expert:  Rick Martin replied 1 year ago.

Hi, can you please send me a picture of the loan application?

Expert:  Lane replied 1 year ago.

Hi - My name's Lane ... I can help


I hold a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.


The answer to your questions is NO. Total Liabilities is Total Liabilities. Under both GAAP (Generally Accepted Acconting Principles) and personal & Corporate finance, that can only mean one thing.


This is just a carry-down on the form ... could ver wel be that the nymber needs to be tjere as well dsimply for processing purposes


Please let me know what questoins you have from here


I'll be here