Utility payments are not debt and are considered in the 57% of non-debt expenses and within the residual income.
"Self-reporting" Utility Accts. on Credit History
Credit Bureaus are now allowing consumers to "self-report" utility accounts on their credit histories. These accounts show as payments and performance does affect their credit scores. For ATR compliance, should these reported accounts now be considered in DTI calculations or can they be excluded? As a side note, I am seeing automated software pulling these utility accounts into the calculations as any other credit account.
First published on 07/14/2019