need advise on how to pay off debt with one lump sum...PLEEEEASE

[MarineVietVet]

Hi there.

What kind of debt are you talkng about? Car loan? Mortgage? Credit cards? All of the above?

You really need to give a few more details. 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[llecs]

Hi OP, and welcome to the forums...

Looks like there maybe a technical issue in posting. Some folks have reported problems recently with Internet Explorer 9. If this is the case, stay tuned. Some I think have reported success by posting in "Compatibility View" (don't ask, have no clue) or by switching browsers. You can also PM one of the technical admins, Mod-Moose, for more info.

[llecs]

Totally guessing like Marinevietvet above, if it is a CC, loan, LOC, mortgage, etc., and it is current, then pay it off.

If this is a bad debt, and the OC is reporting it (e.g. your creditor; not collection agency), then you'd have weigh the reporting baddies and the age of that account in relation to the ages of your other accounts. Sometimes the age of an old, bad account outweighs the damage of that account. If it is one of your newer accounts or if really reporting bad, then send a PFD. Also, if this is a CC reporting as a CO, and if that CC is factored into utilization in a negative way, then you could see a gain just by paying it. Depends on your util outside of that.

If this is a bad debt and is reported by a collection agency, then DV first and then send a PFD if you agree with them.

In any case, for the PFDs, you can offer a settlement if you want as a lump sum.

Don't know if any of the above applies....just guessing.