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If you are a credit card user or even a small business owner then chances are you have encountered this loan application, “Does Excel fit into your budget?” I guess that no one has any problem with this because it sounds like a pretty normal question. But here is why you might not be quite so comfortable when answering this question.
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No matter how difficult the format of the letter is or how beautiful the font, there has to be a correct way to approach it. And the answer is not always going to be what the credit card company wants. Why? Because they use a standardized format and that format is what will determine whether your application is approved or denied.
Credit and financial institutions do not want to be penalized for a document that has been formatted incorrectly. So they have a method for filtering out the applicants who have little or no knowledge about financial and credit terms. And they use the very same formatting systems that every other business uses.
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Do you remember how this would look in your home office where every job is similar? Every invoice, letter or even form that you receive needs to be presented the same way and to conform to the same kind of standards that every other business that does business with you would be using.
To present your documentation in a clear and simple and easy to read manner, you need to learn how to read and understand the wordings in today’s language. It is not hard to find instruction manuals and textbooks that are formatted in a manner that makes use of the most commonly used jargon terms and abbreviations. These books can teach you all you need to know about these terms but it is time-consuming and it takes quite a bit of work.
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Every time you need to make any changes or corrections to a loan application or to any document that you send out, you need to know what to do. It is not only complicated but it is also time-consuming and you should never use a template as a guide. The credit company has everything programmed in their system and that is why you have to use the original application or document if you want to make any changes.
The process of using an Excel loan payment template should be considered with caution as a way to format your documents. Yes, they are convenient but the real reason why they are used is so that the information contained within them is compatible with every other business that does business with a credit organization.
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Always use the original Excel loan payment template or document before using a template. This is the only way to make sure that you are presenting your application the way it was meant to be presented.