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Debtors are shown under Accounts receivable as a current asset, and creditors come under Accounts payable as a current liability.
The purpose of this Statement of Finances is to determine the debtors financial situation so that satisfactory payment arrangements to clear the arrears can be made. The statement provides a sworn summary of the debtors income, expenses, assets and employment.
Debtors are shown as assets in the balance sheet under the current assets section, while creditors are shown as liabilities in the balance sheet under the current liabilities section.
How To Fill Out the Personal Financial Statement Step 1: Choose The Appropriate Program. Step 2: Fill In Your Personal Information. Step 3: Write Down Your Assets. Step 4: Write Down Your Liabilities. Step 5: Fill Out the Notes Payable to Banks and Others Section. Step 6: Fill Out the Stocks and Bonds Section.
A debtor is a company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securitiessuch as bondsthe debtor is referred to as an issuer.

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The debtor has to fill out the following sections in order to complete the form correctly: Personal information (name, address, phone number, SSN, marital status, spouses SSN) Personal information about the family and dependents (name, address and phone number of the next kin or relative) Employment information.

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