Your Debt to Income Ratio
Maintaining Financial Health With a Lawyer's Help
Debt to income ratio is the percentage of your gross monthly income that goes toward paying debts. When it comes to your financial health, maintaining a good debt to income ratio is critical. Your family should have enough income to pay the debts it incurs every month — while paying all bills due and hopefully saving for the future.
At The Law Offices of Neil Crane, LLC, in Hamden, Connecticut, we often spend time talking with our clients — making sure that they understand the basics of financial health — so that they have the tools to make the right decisions about their finances. This usually includes a discussion about debt to income ratio.
When Financial Problems Are Beyond Your Control
We understand that many financial problems are beyond your control. You may have lost a job or fallen ill. You may have experienced a divorce. Regardless of your situation, we can help you get back on track so that you can live debt free. Past financial problems do not have to be part of your future if you seek a lawyer's guidance in changing financial habits.
There are many financial habits that lead to a good debt to income ratio:
- Using only credit cards that are underwritten
- Paying off the balance due each month
- Using debit cards instead of credit cards
- Limiting the amount of credit you have available
- Not taking out second mortgages
- Saving for items instead of taking out loans or putting them on the credit card
Contact Us With Your Questions
Ideally, debt free is the way you should live your life. Please do not hesitate to call us today at 888-249-3027, toll-free 1-800-616-DEBT, or complete our online contact form to discuss your questions and concerns with an experienced attorney.