Jayhawk Advisors Loan Review 2020: They Claim They Can Help You If You Have Accumulated Too Much Debt john Hughes March 11, 2021 Banking Best 2020 Reviews provides expert reviews for consumers looking to consolidate debt. A particular website, Bridge Payday no credit checkÂ Reviews, interests best2020reviews.com. Jayhawk Advisors, also known as Clay Advisors, Pine Advisors, Colony Associates, Alamo Associates, White Mountain Partners, Punch Associates, Ballast Associates, has launched a brand new website. Jayhawk Advisors and jayhawkadvisors com are part of the new wave of personal loan lenders marketing to American consumers. Typically, they engage consumers through direct mail, telephone sales, and Internet advertisements. A credit card consolidation loan is the most expensive in terms of borrowing money. Check out the personal loan reviews. They make borrowing money simple and easy due to the highly liquid nature of money. Young people who are susceptible to impulse buying are likely to become addicted to the ease of spending money that they do not currently have. When it comes to credit cards, the smartest solution is not to have a credit card at all. You can have a credit card if you want to account for emergency payments, but it should only be used in an emergency. Your financial life becomes much more manageable when you have one less thing to worry about. Credit cards, for all the flexibility they claim to provide, make debt too easy. It becomes a concern when you depend on them to pay for just about everything from grocery bills and gas and utility bills to entertainment news and clothing. Most households would not be in a financial stumbling block if they used their credit cards with discipline. The idea is to spend wisely and pay off the debt before the end of each month. If nothing else, pay at least more than the minimum payment and don’t pile up on more unnecessary debt. How to tell if you have too much debt The most efficient way to calculate if you have too much debt is to use a formula known as the debt-to-income ratio, or DTI. It’s the formula: monthly recurring debt / monthly income = DTI ratio. The debt ratio can be determined in two ways, one includes the mortgage, the other excludes it. The one that includes the mortgage is often used by creditors to approve or reject a loan. For example, suppose your monthly debt payments are equal to $ 4,000 and your monthly income is $ 8,000. The calculation for this is 4000/8000 = .50 or 50%. It is extremely high. You have too much debt that you can handle. Lenders prefer to work with people who have less than 35% or less after including payment of a mortgage or rent. The other method of determining the DTI is to exclude mortgage payments. The resulting number must be less than 10% and not more. Anything larger should be a matter of serious concern. How to fix a bad DTI ratio The best way to work things out is to cut your expenses and try to increase your income. Unfortunately, old habits die hard. Even if you end up increasing your income, some people respond by increasing their expenses. This makes it harder to catch up on debt and they find themselves caught in a vicious cycle. How to ask for help If you are feeling too burdened with your debt, the last thing you can do is look for quick fixes. Things like loans that promise no credit check should be avoided at all costs. It is important to realize that they will make your situation worse, not improve it. The best thing to do is to contact a non-profit credit counseling agency that will try to find lower interest rates on your credit card. This is known as debt management and should generally take 3 to 5 years, leaving you debt free at the end. No related posts. Leave a Reply Cancel ReplyYour email address will not be published.CommentName* Email* Website Save my name, email, and website in this browser for the next time I comment.