Posted on: 04th Jul, 2012 12:41 am
I have some debt that I would like to take care of and remove from my credit report. Which debt should I pay off 1st? All debt is with a collection agency. Should I pay the biggest ones first or how should I go about this?
Hi Manial,
You should first check out whether or not your debts are passed SOL. If not, then you are liable to pay off all your debts. You can start paying off the smaller debts first. Once you pay off your smaller debts, it will help increase your confidence level so that you can pay off the debts with higher balance.
Take care
You should first check out whether or not your debts are passed SOL. If not, then you are liable to pay off all your debts. You can start paying off the smaller debts first. Once you pay off your smaller debts, it will help increase your confidence level so that you can pay off the debts with higher balance.
Take care
I am agree with Sara that you must check that the statute of limitations hasn't expired. If the SOL has not expired, the responsibility to pay off the debts lies upon you. You can start your debt elimination exercise by paying the highest interest debt first.
I am agree with both Sara and Skyden, reagarding the SOL aspect. Regarding the debt elimination exercise, you can resort to any one of the processes discussed above. It depends upon your comfortability and approach towards debt elimination.