HOW DO BUREAUS KNOW YOUR DEBT TO INCOME RATIO, IF YOU NEVER SAY. WHO MONITORS THE CREDIT BUREAUS FOR ACCURACY?
john c asked:
I was told by a credit repair attorney, they estimate by your job title, which is wrong, because i have several sources of income that is not listed on my credit report. Does anyone really know the answer?
Kelly
I was told by a credit repair attorney, they estimate by your job title, which is wrong, because i have several sources of income that is not listed on my credit report. Does anyone really know the answer?
Kelly
Josephine
Credit bureaus do not know your debt to income ratio. Look at your credit report. Your DTI (debt to income ratio) is not on your credit report anywhere. This would be very unfair to you to place DTI on your credit report. Imagine if you got a new job paying 50% more, yet the credit bureau still showed the old income with the higher DTI based on the lower income.
Can’t imagine why anyone told you this.
Your DTI is determined by the creditor who pulls your credit report. After you submit an application for credit and reveal your income, the prospective creditor calculates your DTI.
How smart and wise of you to know this sounded crazy.
Good luck.