The combined total of credit card, auto, mortgage or other debt which you pay on a monthly basis.
Glossary-D Debt Service is the total amount of debt (credit cards, mortgage, car loan) that an individual is carrying at any one time.
The total amount of credit card, auto, mortgage or other debt upon which you must pay. Also referred to as your back end ratio. Lenders like to see this ratio in the 40% range. As in 40% of your income goes toward your monthly debt. Higher debt ratio loans are available.