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How do I lower my debt to income ratio?

Established Contributor

How do I lower my debt to income ratio?

Good evening, All
 
Wanted to know how to reduce my debt from 54% to 50%
Message 1 of 7
6 REPLIES
Regular Contributor

Re: How do I lower my debt to income ratio?

Pay some of your debt.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
Message 2 of 7
Regular Contributor

Re: How do I lower my debt to income ratio?

Or get a raise.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
Message 3 of 7
New Visitor

Re: How do I lower my debt to income ratio?

Hello,
 
Get a copy of your credit report and do the math.  See what you can pay down to lower your percentage.  Maybe a little payment on everything might do the trick. MG
Message 4 of 7
Established Contributor

Re: How do I lower my debt to income ratio?

Ok ya'll that was kinda obvious.  But how would one know where to start and figure out what would really make a difference?
Message 5 of 7
Super Contributor

Re: How do I lower my debt to income ratio?



myhearts07 wrote:
Ok ya'll that was kinda obvious.  But how would one know where to start and figure out what would really make a difference?


I am not sure there is much sublety that can be applied to DTI.  Either I has to go up or D has to go down.  If it is for a mortgage, I assume they prefer D to be installment not CC, and preferably established installment not new installment
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 6 of 7
Established Contributor

Re: How do I lower my debt to income ratio?

Alright.  Thanks
Message 7 of 7