Jump to content

Please use the Feedback forum for questions about the upgrade.  We will get to them as quickly as possible.

 

achoonurse

Do student loans affect debt to income ratio

Recommended Posts

Trying to find a cosigner to help my daughter with student loans. I was asked to find out if a cosigner on a student loan has their own debt to income ratio effected by cosigning. Thanks for any help.

Share this post


Link to post
Share on other sites

ttt

If I were looking at your credit file(s) I would count Joint loans or cosigned loans against your own DTI.

Share this post


Link to post
Share on other sites

  • Similar Content

    • By Ellie2323
      So I made a mistake and financed furniture for my first place. I was young and idoitic and signed a contract that stated all sales final. The contract also stated that I had seven days to get a refund for the merchandise. The merchandise was not in store and the company had to order it online. After a good nights sleep something felt off and I searched the furniture store and noticed most people got furniture  that was nothing like what they wanted. I called both the financing company and the merchant to make good on their seven day policy. I never reccieved any furniture and did not walk away with anything. The merchant gave me the run around and said there was nothing they could do. The account was closed May 1st but re opened and charged May 14th. I disputed the charges as the furniture was never attempted to be delivered. I also mailed a cease and  desist to both the merchant and the fiance company within the seven day period. The financing company said that I could not dispute the charges and that the contract was binding. I let them know that I still had not reccieved anything from the merchant and the financing company disputed it again. I checked my credit and the balance on the credit card dropped to zero. Is this because it’s in dispute? The balance did not decrease the first time I disputed it. I was young and made a mistake I’d just like to know my options.
    • By RaYdAwG005
      Folks, you have 2 choices:  You can either sit there wondering why other people have what they have and can do what they can do, while you don't and can't, OR you can learn how to get what they have.  I chose the latter.  
      Here's my testimony:  10 months ago, my credit was so bad and scores were so low, I couldn't even borrow from myself (joke).  I watched my brother fix up his and his wife's credit 15 years ago. Since then, they bought 2 homes, 1 in Baltimore and 1 in Pittsburgh.  He was telling me that he was at the point where he could walk into any dealership and walk out with a new car, just like that, with no money down.  I admit, I was kinda jealous of that.  ME ON THE OTHER HAND, I remember one time coming home from driving over the road and trying to rent a car (with cash) for the weekend, and I couldn't because they required a credit card, which nobody in their right mind would ever give me.  I was actually delusional enough to apply for a credit card.  I'm surprised they didn't call the cops on me! 😂 I remember having to pay a huge deposit just to get a cell phone.
      4 months after making a decision to fix my broken credit report, starting a credit repair program, learning the laws that govern debt collection practices, actually doing the work myself, as oppose to hiring some lame credit repair company (*caugh* Lexington Law) who just wants to make money off my misery, and learning how credit works, my credit scores went up nearly 200 points. My credit never looked this good in my life!  Now, I'm getting approved for everything I couldn't before.  All because I made a decision.  
      Stop making excuses and start making that decision. Go get that house, car, loan, vacation, whatever it is you want or need that you think you can't.
    • By onikadav
      Greetings,
      Any recommendations on the best three credit reporting and FICO score monitoring companies to use?  In the past I used totalcredit.com. My work needs became demanding, I was unable to monitor my credit as I liked so I canceled my subscription. When I tried to reactivate my account, I received a message to call customer service. After a month of trying to reach someone over the phone, I gave up. I’ve now subscribed to MYFICO which isn’t exactly what I’m looking for any recommendations?
    • By Adams1212
      Hello All,
       
      As is said by many, this site is truly a godsend. I cannot commend you all enough for taking the time out of your schedules to assist people with rebuilding and understanding their credit. Thank you so much.
       
      I've been reading for awhile now and thought i'd take a stab at my first post in hopes of reaffirming the direction I think i should head. I get a bit overwhelmed when trying to figure out where to start.
       
      1.) I've opted out
      2.) I've sent letters to all CRA to remove old address.
       
      Below i've put on an excel spreadsheet the baddies on my account. I'm really hoping its possible to get some of these removed as certain searches on this site have given me less hope. I am currently in the middle of a streamline refinance of my home so I assume thats why the mortgage is listed twice below.
       
      My question is where is the smartest place to begin after the address situation is taken care of. I was assuming i would begin by calling the collection account for Express and demand a PTD, but I'm not sure if thats the best place to start.
       
      Theres also the credit one issue, i assume its in collections with them but I haven't received any calls.
       
      I also have the mortgage late issue which I'm not sure how to approach. I am current now but in 2012 had a few 30 and 60 days.
       
      Anyway, any help or direction would be great. I hope I've read up enough to post this, if not feel free to direct on something i should follow back up on. Thanks again everyone!
       
       

      EQ
      TU
      EX
      OC
      PORTFOLIO RECOVERY
      PORTFOLIO RECOVERY
      PORTFOLIO RECOVERY
      OL
      WORLD FINANCIAL/ EXPRESS
      WORLD FINANCIAL/ EXPRESS
      WORLD FINANCIAL/ EXPRESS
      BALANCE
      340
      340
      340
      ASSIGNED
      6/2014
      3/2014
      3/2014
      STATUS
      COLLECTION
      COLLECTION
      COLLECTION
      REMARKS
      Not piad, but willing.
       

      EQ
      TU
      EX
      OC
      -
      -
      Eastern Acct Systems
      OL
      -
      -
      COMCAST
      BALANCE
      -
      -
      -
      ASSIGNED
      -
      -
      12/2012
      STATUS
      -
      -
      PAID
       
       
       

      EQ
      TU
      EX
      OC
      CARE CREDIT/ SYNCB
      CARE CREDIT/ SYNCB
      CARE CREDIT/ SYNCB
      OPENED
      12/2013
      12/2013
      12/2013
      BALANCE
      $335
      $355
      $355
      LIMIT
      $500
      $500
      $500
      STATUS
      OPEN (1 LATE 12/2013)
      OPEN (1 LATE 12/2013)
      OPEN (1 LATE 12/2013)
      REMARKS
      Made a mistake and missed by a few days last month. Up to date now.
       

      EQ
      TU
      EX
      OC
      CREDIT ONE
      CREDIT ONE
      CREDIT ONE
      OPENED
      4/2012
      4/2012
      4/2012
      BALANCE
      $400
      $400
      $400
      LA
      6/2012
      NA
      NA
      STATUS
      CHARGE OFF
      PURCHSD BY OTHER LENDER
      PURCHSD BY OTHER LENDER
      REMARKS
      High balance of $709 only reported by TU. Others is $0. Have not paid yet but wiling to.
       

      EQ
      TU
      EX
      OC
      COMENITY BANK/EXPRESS
      COMENITY BANK/EXPRESS
      COMENITY BANK/EXPRESS
      OPENED
      12/2011
      12/2011
      12/2011
      BALANCE
      0
      $340
      0
      LA
      3/2012
      3/2012
      NA
      STATUS
      CHARGE OFF
      CHARGE OFF BAD DEBT
      PURCHSD BY OTHER LENDER
      REMARKS
      High balance of $340 only reported by EQ &TU. EX is $0. Have not paid yet but wiling to.

      EQ
      TU
      EX
      OC
      MACYS
      MACYS
      MACYS
      OPENED
      11/2009
      11/2009
      11/2009
      BALANCE
      $0
      $0
      $0
      LA
      8/2010
      3/2012
      NA
      STATUS
      PAID IN FULL FOR LESS
      PAID IN FULL FOR LESS
      PAID IN FULL FOR LESS
      REMARKS
      Paid for less than balance years ago.

      EQ
      TU
      EX
      OC
      MACYS
      MACYS
      MACYS
      OPENED
      11/2009
      11/2009
      11/2009
      BALANCE
      $0
      $0
      $0
      LA
      8/2010
      3/2012
      NA
      STATUS
      PAID IN FULL FOR LESS
      PAID IN FULL FOR LESS
      PAID IN FULL FOR LESS
      REMARKS
      Paid for less than balance years ago.
       

      EQ
      TU
      EX
      OC
      OCWEN LOAN
      OCWEN LOAN
      OCWEN LOAN
      OPENED
      2/2009
      -
      -
      BALANCE
      $132,274
      -
      -
      LA
      9/2014
      -
      -
      STATUS
      Pays as agreed
      -
      -
      REMARKS
      6 times past 60 days late
       
       

      EQ
      TU
      EX
      OC
      OCWEN LOAN
      OCWEN LOAN
      OCWEN LOAN
      OPENED
      2/2009
      2/2009
      2/2009
      BALANCE
      $120,381
      0
      -
      LA
      11/2014
      11/2014
      11/2014
      STATUS
      -
      TRANSFERED
      TRANSFERED
      REMARKS
      6 times past 60 days late
       
    • By sundaythree
      Hi All,
       
      I found this board by accident in Mid November and am so glad I did. I've been feeling quite a bit of despair regarding my bad credit. My bad credit forces me to live a life with very limited choices. I could give a heartbreaking story about why I am in this boat and tell you all about my ex-wife, divorce, custody etc and blame a lot of it on her. The simple truth is that I am to blame and I am the one who needs to fix it. What I like most about what I've read is the support given and genuine responses when good things happen. This is a great forum, and I can't wait to be a part of it.
       
      I'm taking it slow in the beginning because there is so much information. I've read and re-read the "required" material from psychdoc, whychat, newbie forum etc. Because of the reading I've done, I decided in Mid December to first opt out, I pulled my reports from creditreport.com, and just today I called TU to ask for my old address to be deleted. It was simple and easy and I had a bit of thrill run through my veins when he said yes and then deleted my phone numbers as well. I know this is the low hanging fruit of the path I'm taking, but its a great feeling to be in control!
       
      My next steps are to try for the deletion of my old address from equifax and experian, and then re-read all the info I've looked at in order to properly triage my baddies.
       
      If there is one question I have to begin with, it's this: Is creditreport.com an "okay" place to get my initial CR's? I've seen a lot of talk about myfico. Should I pull from there instead?
       
      I'm planning on being an active member in this forum and I look forward to talking with you and hopefully one day, offer my own advice as well.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines