09-06-2010 11:00 PM
Hello again, I have been working on my credit for over a year now. I just received a bonus and was wondering what I should pay first. I am looking to get a used truck before the next year.
what should i pay
1 closed CC low 200s cl 300
1 co 800s cl 2300
or CA for 1500
I can pay the 2 ccs entirely, or the oc on the ca and have it deleted. but i cannot pay both right now.
Thanks again for your continued help and support
09-06-2010 11:26 PM
That is extremely hard to answer.
Fron your post, ti appears that you have one closed CC with a debt of around 2/3 of your prior CL
Then a charge-off of unpaid debt of $800
Then a collection that has a debt of #1,500.
First, and foremost, payment of one or all wont result in any deletion from your CR
That would requrie a prior PFD deletion agreement, in writing, from each creditor.
The closed CC coiuld escalate to a charge-off, then maybe to a collection, and then maybe to legal action
The charge-off could escalate to a collection, and then also to legal action.
The collection couild escalte to legal action.
Who to pay first? The one you perceive as the most-likely to forther blemish your CR by escalatted action.
09-07-2010 06:48 AM
Ditto to Robert. My answer would vary based on the balances and CLs of your other CCs. Paying off those two CCs can actually increase your score or even decrease your score. It all depends on how it reports and what else is reporting.
Paying off the CA will never help your score, but if you have a chance to get a PFD accepted, then that's something to consider too.
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