Can unpaid bills affect my DTI?
They might. While monthly expenses are not typically factored into your monthly total debt, unpaid bills sent to a collection agency count as debt and can affect your DTI. These unpaid bills, which include utility bills and medical bills, can also lower your credit score, showing up as a line on your credit report and making it more difficult to get financing.
What should I do if I have 4 high balences in credit cards. I want to improve my score.
Hi Sherri,
Thanks for your question!
One way to improve your credit score is to pay off high-interest debts to lower your debt-to-income ratio.
If you have multiple credit card debts, you can consider consolidating them with a balance transfer or a loan. That way you’re only managing a single account and likely at a lower interest rate, which could help you save and pay off your accounts faster thus improving your credit score.
As a reminder, consolidation loans and balance transfer credit cards are not for everyone so please weigh your options carefully to see whether it is right for you.
Hope this helps!
Best,
Nikki
How can I turn my title loans and payday loans in to one payment that I can afford
Hi Melissa,
Thanks for your question.
You can take advantage of a debt consolidation loan to have one payment for your existing loans. Click on the link and once you’re on the redirect page, please enter your credit score range and state of residence in our comparison tool to start comparing. Also, please be sure to check the relevant terms and conditions and eligibility criteria of the loan before submitting your application.
I hope this helps.
Cheers,
Anndy