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Monthly DTI Ratio and DMP

Monthly Debt-To-Income Ratio and Debt Management Plans

This is a good time to talk about your Monthly Debt-To-Income Ratio. Your lenders will use your monthly debt to income ratio to determine your ability to repay the money monthly that you have borrowed. Higher DTI means you’ll pay more interest, or you may be denied a loan.

Lenders use various calculators, some more complicated than others. However, DTI is simply the percentage of your gross monthly income (before taxes) that goes towards payments for rent, mortgage, credit cards, or other debt.

Here are several ‘commercial free’ Debt Management tools and strategies that empower you to manage your personal debt.

Debt Management Plans

For those with considerable debt problems, a financial counseling session is an effective first step to help you manage your finances better. In some cases, and if appropriate, entering a Debt Management Plan (DMP) can start you on the road to a financially stable, debt-free life.

DMP Helpful Resources

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