March 20, 2010

~~110% Debt to income ratio

By Timothy Stull (http://www.fresh-start.co)

I heard a discussion forum on this topic last week on CNBC. This is a very critical number ~ 110%. It simply proves that people do not have enough money coming from income to pay back all of their debts. It also means that banks will be very hesitant to pick up lending to consumers on a basic credit level. It is crucial for medium range consumer credit to become active again ~ it will spur sales that range between $500 and $1000 ~ most folks don’t have cash on hand to make those purchases. However, many consumers must shed old debt to show borrowing quality to the banks. Banks want to see that you on your way up….that you have taken responsibility & looking to improve your credit. It seems like debt settlement will be the only reasonable option for many consumers to get out of debt quickly. Bankruptcy is no longer a quick fix option ~ as the law now heavily favors the banks. Debt settlement and credit repair can be extremely time consuming, confusing and annoying. Lack of serious experience will have you running in a circle. Fell free to call me any time at 877.297.7011 for free debt settlement or credit repair advice.

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