PlasticTrees asked:

Or is it credit to debt ratio? Either way, I am a college student with 1k of bad marks on my credit report from years ago.

I want to get a secured credit card for the amount that would look good to lenders like “this person pays on time and has a valuable credit history w/some lenders” (ie my dell account is on there which is good and the secured card would add to it).

Am I making sense? How can I do this? I’d rather not pay off the measley 1k, it should be removed within a few years anyway.

Pearl

Sarah R asked:


Im having trouble determining the total for the debt ratio of total debt divided by total assets. I need Wal-Marts total debt, but not sure what categories on the balance sheet are included.

Do I add total current liabilities, long term debt, long term obligations under capital leases, deferred income taxes and other, minority interest? I just need to know what to add up to get the total debt for Wal-Mart 2008. Thank you!

Jimmy

at asked:


I am planning to do a 1031 exchange sell one high price property and buy couple other properties.

My FICO score is around 670 but because of the number of rental properties I currently own, it puts my debt ratio to unacceptabe high to qualifiy any conventional 20% down loan. Any body knows what other loan programs out there that would easier to qualify and with what % of down.

Clinton

amhjp1820 asked:


Ok, past credit messed me up. I have a judgement thats almost paid off. I am trying to raise my credit score.I have 3 new accounts that I’ve paid on time for over 1 year. I read that one way to raise your score is to ” piggy back” on a relatives good credit ( have them add me to one of their good accounts and not use it) Is this safe, is it legal. I would love to hear constructive ways to increase my credit score. Please don’t judge me. Almost all of my ” bad” credit accounts have been paid off. I put my sons first when the divorce came. They lived in the house that I paid for while I lived in a basement.

Leonard

Nikita asked:


I am trying to rebuild my credit after ID theft, a couple of problems that were mine and years of basically not having any credit reported. (I primarily use my debit card and pay cash for everything). I make good money now and am trying to rebuild in order to purchase a condo in the next couple of years. My good accounts (rental, club, cable, cell, etc.) have not reported my good credit. So how many cards should I take out that will help boost my credit score but not hinder my credit. Thank you!

Jill

salena asked:


I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?

Ronnie

David E asked:


For instance:
Is it $1500 rental income – $1000 rental mortgage = $500 added to your income only

or

Is $1500 of rental income added to your total income and $1000 added to your total debt and they are considered separate of each other in the ratio?

Jean

Labrythn asked:


When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?
OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work

Earl

dondizzle404 asked:


I have a credit card that I am about to pay off in the next couple days. I want to increase my chances for getting a loans. How long should I wait to apply for the loan after the card is paid off so my current debt ratio reflects the new balance of card?

Neil

christina.yost asked:


my debt ratio is 27.00%… i personally bring home $3,000 a month (my husband brings home about the same). i have no credit, my husband has pretty bad credit. will debt to income ratio be a factor in buying a house? how likely am i going to be able to buy a house with just debt ratio?

Scott