How to Find Your Debt to Income Ratio

How to Find Your Debt to Income Ratio (The Easy Way!)

How do you find your debt to income ratio? It’s a simple calculation. It’s also an important number. In addition to your credit score, lenders use it and you should, too. If your debt to income ratio is low, under 36 percent according to experts, that’s good. If you pay your bills on time, you should receive the most favorable credit terms. It tells lenders that you are using credit responsibly and that you will be able to pay them back.

Financial Advisor

Considering Hiring a Financial Advisor to Help Manage Your Money? Here’s What You Need to Know

If your reasons for seeking professional financial help have to do more with overwhelming debt and less with investment advice, an LIT may be a better fit for you. Licensed Insolvency Trustees (LITs) are federally licensed and regulated professionals who provide financial advice and services to individuals and businesses with debt problems.

what it means to be insolvent

What Does It Mean to Be Insolvent?

Whether you are Insolvent or not, does not depend on whether you haven’t missed any payments. It’s a legal definition out of the Bankruptcy and Insolvency Act. The same Canadian law that gives Licensed Insolvency Trustees, and ONLY Licensed Insolvency Trustees, the know-how and means to give you the best advice on how to deal with your financial situation. Don’t accept any substitutes!