The amount of future income already committed to past credit agreements influences one's ability to use more credit.

Question

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This statement is true. The amount of future income already committed to past credit agreements, such as loans or credit card balances, affects one's ability to use more credit as it impacts their debt-to-income ratio and creditworthiness. Lenders may be less likely to approve additional credit if the borrower's existing debt is already high in relation to their income.

The Amount of Future Income Already Committed to Past Credit