Debt Settlement Company?? So Confused! Help!

[Anonymous]

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@Anonymous wrote:

Just make the minimum payments on EVERYTHING first. So that should only be about $25 - $200 for each card depending on the balances.

After that, use your left over money you have allocated for repayment of debt to pay towards the highest interest rate loan or credit card. Very simple really.

What are the concerns you have, specifically?

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I'm still on the fence about paying the highest intereste one first (I get the logic behind it).  I just like paying lower ones first and seeing them go away (at least that is how I used to do it.  I now pay everything in full)

[Anonymous]

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@Anonymous wrote:

Just make the minimum payments on EVERYTHING first. So that should only be about $25 - $200 for each card depending on the balances.

After that, use your left over money you have allocated for repayment of debt to pay towards the highest interest rate loan or credit card. Very simple really.

What are the concerns you have, specifically?

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Thank you for your response! My primary concern is that I feel like I am drowning in debt. I need to get a new car in the next couple months and I am pregnant. Yikes. My score has plumeted to 520. I would like to start paying all this down, work with the closed CC's so that they will not go into collections, and ultimately increase my score so that I have a fighting chance when the time comes to get a new car.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Just make the minimum payments on EVERYTHING first. So that should only be about $25 - $200 for each card depending on the balances.

After that, use your left over money you have allocated for repayment of debt to pay towards the highest interest rate loan or credit card. Very simple really.

What are the concerns you have, specifically?

---

I'm still on the fence about paying the highest intereste one first (I get the logic behind it).  I just like paying lower ones first and seeing them go away (at least that is how I used to do it.  I now pay everything in full)

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Yes, I think I might take that approach so that I can see that initial boost in my credit score to get a new car and then after I get the car, maybe refocus and start working vigorously on the higher interest debts. 

[medicgrrl]

Call your credit card companies and see if they'll temporarily lower the interest rates. Are the closed accounts already in s charged off status? List your debts, balance, payment, credit limit and interest rate. Include the installment loans. You might get some more specific advice.

[Anonymous]

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@medicgrrl wrote:
Call your credit card companies and see if they'll temporarily lower the interest rates. Are the closed accounts already in s charged off status? List your debts, balance, payment, credit limit and interest rate. Include the installment loans. You might get some more specific advice.

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No, they have not charged off yet. Will they lower the interest with a lower score (520)?