Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
mho5949

1 Contribution
0 People Helped
Should i refinance a personal loan to lower my debt to income ratio by extending the loan years?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1132 Contributions
1209 People Helped

It depends on what you are trying to acheive by doing so. Personally I would try to pay this thing off as soon as possible. If you are feeling a pinch on monthly payments, then by all means try to lower your bills to accomadate your budget.

Reply by
mho5949

1 Contribution
0 People Helped

Purpose is to prep for a house purchase in 6 months. I'd like to lower my monthly debt payments for lower debt to income ratio, but want to consider the credit hit for opening a new line of credit. Not sure what the give and take is in this situation. I'd still aggressively pay the thing off as I am now, but want the credit score to report a lower required monthly debt payment. thoughts?

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.