What does the statement 'If I were to lose my job and I am unable to pay my car note' mean in the lending agreement?
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Answer:
They are asking you if in the event you were to lose your job. ( Your form of income)They want to know if you will default on your loan. It could mean several things depending upon the complete sentence or the area of the contract in which it is found. Examples, the lender is asking how you would pay off the loan, or informing you of action that could be taken if you default on the agreement, such as repossession, arbitration, etc.
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