Debt-to-income ratios probably aren't something many people think about often. But it's important not to discount this ratio and the impact it can have on your financial stability. After all, your DTI ratio typically plays a significant role in your ability to access loans - or lack thereof.
If that's the case for you, it may be time to reach out to a debt relief service. Debt relief services - like debt management and debt forgiveness programs - typically help borrowers by negotiating their interest rates and payment terms or their principal balances with their lenders. Their goal is usually to modify your debts in such a way that you can pay them off in a reasonable amount of time without stretching your budget too thin. And as you pay your debts off, your DTI ratio will fall.