Posted on October 5, 2009 at 1:40 am Can you tell me how I may know how much debt I have? Can you give links  or sites on how to find out one's total debt amount?

Posted on October 5, 2009 at 4:42 am Can you tell me how I may know how much debt I have? Can you give links  or sites on how to find out one's total debt amount?You can contact your lenders and creditors and ask for your balance as well as your interest rates. Then get the total for your unsecured debts (as well as the total interest rate), do the same with the secured debt.

Posted on October 5, 2009 at 5:00 am Also calculate the amount that you pay towards debt payment each month. To get this, look at your budget and determine what percentage of your take home pay is being used to pay off debt. Make sure that that percentage is not above thirty percent of your income. Then subtract the amount you pay in interest each month, from that amount you pay towards debt each month.

Posted on October 5, 2009 at 5:19 am If you want to find out how you can calculate your debt to income ratio: divide your total monthly debt payments by your total net income (that is your income after taxes). 30% or less is a good ratio.

Posted on October 5, 2009 at 5:55 am If you want to know how much your debt affects your credit score:debt and the credit score:  this is the breakdown of a consumer's FICO score. It is made up of 5 different components:Payment History: 35%. - will increase if you make all of your monthly payments on time. will decrease if you miss a payment.Debt to Income Ratio (Amounts Owed): 30%. will increase if you have little or no debt and have a steady stream of income. will suffer if your debt amount outweighs your income.Length of Credit: 15%. the longer your credit history is, the better.New Credit: 10%. if you take in a new line of credit, it would increase.Types of Credit: 10%.  will increase if you have a variety of debt types: ex -two credit cards, a personal loan, a mortgage and a car note rather than just having just 5 different credit cards.

Posted on October 5, 2009 at 6:11 am If you want to find out how you can reduce your debt to improve your debt to income ratio,  try to increase your monthly income, or use a debt relief program to help rid of your debts.

Posted on October 5, 2009 at 6:25 am If your unsecured debt is more than $10,000 and your accounts are past due, think about debt settlement.If your debt is less than $10,000 with high interest rates and your goal is to just manage your payments, you can try credit counseling.Destroydebt.com offers a free initial consultation, just fill out a form.

Posted on October 16, 2009 at 2:42 am To find out how much debt you have, it's always a good practice to keep all your receipts and statements to better keep track of all your transactions. Also, keeping a record of all of these will help you improve your budget.

Posted on October 16, 2009 at 3:33 am what about financial management software? they work, right?