individuals, credit unions, savings and loans or any other person or institution. These are commonly called signature loans because all the lender gets is your signature on your promise to repay the loan-you dont pledge any collateral. Examples include student loans and loans from relatives. State the lender and terms of payment, including any balloon payments and when the loan will be paid in full, as well as the outstanding balance.     Loans Secured by Real Estate: List each note and deed of trust you owe. State the property by which it is secured and the terms of payment, including any balloon payment and when the note will be paid in full, as well as the unpaid balance.     Loans Secured by Personal Property: List any loans secured by equipment, vehicles, business inventory or anything other than real estate. Show the payee, unpaid balance, security, terms of payment, including any balloon payment, and when the note will be paid in full.     Loans Against Life Insurance Policies: If you borrowed against a whole life insurance policy, list the insurance company, terms and outstanding balance.     Other Liabilities: List whatever else you currently owe. This may include unpaid medical bills, tax liabilities, unpaid lawyer bills, unpaid alimony or child support and debts to bookies. Total Liabilities: Add up all the amounts you owe others. The result is your total liabilities.     WarningCheck for consistency. Before you go on, carefully compare the information on your assets and liabilities lists. Make sure they are consistent. For instance, make sure that you show assets for which you show liabilities and vice versa.     3. Determine Your Net Worth     To calculate your net worth, simply subtract your total liabilities from your total assets.     In the last blank, add together your total liabilities and net worth. This figure should match your     WarningIf your total liabilities are more than your total assets, your net worth will be a negative figure and youll need to place brackets around the number. Of course, people with a negative net worth frequently have difficulty borrowing money and may have to consider another form of financing, such as selling equity in the business. (See for information about raising money.)     4. Determine Your Annual Income     The next part of the Personal Financial Statement shows your income from all sources. These figures show the annual total of each income source, so dont confuse this with the asset section completed earlier. However, if you show any income from an asset in this section, make sure you also list that asset in the asset section. This form should reflect your current situation and show your present salary, even if youll quit your job to start the new business.     NoteNote about co-signers: If someone else will guarantee the loan with you-such as your spouse-fill in the requested information for that person as well.     Gross Salary and Wages: List all the sources of your income, including wages, earnings from