When a person's personal economy is in turmoil, it is common for debt to mount while income either drops or stagnates. When the going continues to get tough, more credit may be needed either through extended lines, or new ones.
Potential creditors, such as Bank of America or the local car dealership, will offer or deny such lines based on a person's debt-to-income ratio, or DTI.
Figuring a Person's Debt-to-Income Ratio
The average person might think of debt as the entire amount borrowed compared to the entire amount earned. For example, if a person earning a yearly income of $90,000 has the following debts:
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