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Best Strategy for Paying Off Collections?

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ORllyNao
Regular Contributor

Best Strategy for Paying Off Collections?

Aside from the usual - PFD and negotiating etc, what is the best strategy for paying off collections?

 

Most recent first? Highest amounts first? Or does it even matter in the long-term, since I plan to pay off every single one of them in the next 1-2 years?


FICO 8 | March 2023
Message 1 of 3
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dynamicvb
Valued Contributor

Re: Best Strategy for Paying Off Collections?

I think is more to do with if they are updating every month as those are hurting the most, then the newest ones. Not really sure, but I would handle it that way.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 5/28/20:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 2 of 3
ORllyNao
Regular Contributor

Re: Best Strategy for Paying Off Collections?

Thanks! Looks like all but one of them are reporting monthly, so I may start knocking them out newest to oldest once I get all of the ridiculous small ones handled. Smiley Happy


FICO 8 | March 2023
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