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I am trying to pay off multiple credit cards and student loans. I am not sure which is better to pay off first: credit cards still with the actual credit card company (discover, chase, etc) with a larger balance ($2000-$4000 range) or smaller debts ($400-$500 range) that have gone to collections. Which should I attack first?
Hi Arya, You must have to pay off all of them. But you have to pay this debts which has nearest due date to pay off otherviz they will charge you late payment penalties.So choose them first who has neares due date to pay off. You can also manage them by which one has large no of credit amount & you can select one of them which has large no of balance & you have to pay it first to take it in normal balance.
Thanks & Regards.
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debts
Well.......what bout outstanding debts that show up on a CR? I know a few of the debts, the SOL has already expired...so, I don't 'touch' them. However....I DO have a few that are less than $600.00. My BIGGEST ones (that are NOT deliquent on my CR) are my student loan ( which seems to take 'forever' to pay off..) and a car loan.