lease payment questions

Discussion in 'Credit Talk' started by the rock, Nov 22, 2000.

  1. the rock

    the rock Guest

    Does anyone here know if lease payments count as far as credit reporting.When it comes to debt ratio are lease payment accounts included.I owe 3,600 on a 7,500 original lease do they add this to my credit card balances to determine my available credit?Example (owe 5,400 on credit cards which have a total limit of 6,000)Thanks!!!
  2. marvin

    marvin Well-Known Member

    I believe it would count toward you're debt/income ratio (would be part of the 41% allowed by most mortgage companies for debt.) But it probably wouldn't count towards the percentage of available credit. I think that they are talking about revolving credit when they figure percentage of available credit.

    I'm not sure on this, but I do believe that this is the way it works.

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