Best plan of attack ~ advice please

[arzufam]

Hi All...

My DH and i are in the process of credit repair.

We want to take care of outstanding collection accounts as they are affecting out debt ratio, as well as open 2 secured credit cards to start rebuilding.  The only revolving trade lines we have now are student loans. 

Is it wise to open the secured cards while paying off collection accounts? or should we pay those first and then open the credit card accounts?

Any help you give is appreciated!!!

[RobertEG]

You will most likely have a better chance of approval, and better terms, if you reserve the application for new credit until you have at least eliminated the reporting of unpaid bad debt in your CR.  Hopefully, you can also achieve CR deletion by way of payment, but at the least, showing the absence of unpaid delinquent debt would be the horse I would put before the cart.