What Order Should I Do Things In?

[AJMCZE]

Hi all,

Through a series of family hardships combined with short-sighted answers to them on my part, I currently have several old items in collections, and am in payment arrangements with closed credit cards. I've just gotten a very nice contract on my side business and basically, I'm trying to figure out in what order I should address these to most quickly boost my credit score and get myself back on track.

I have $15,000 to allocate to the following:

Judgment from old oil company: $940 balance

Credit cards (all on credit report):

A) $11900 balance, paid current on plan but at very high APR so I'm making marginal dent in the balance despite a large monthly payment of $400 (card is closed)
B) $7900 balance, paid current (card is only open/used one I own)
C) $7139 balance, current on 0% interest plan paying $72 a month, could settle for $5000 (card closed)
D) $2900 balance, current on 0% interest plan paying $94 a month, could settle for $2300 (Card closed)
E) $2300 balance, current on plan paying $60 a month, could settle for $1700 or pay $360 to reopen (card closed)

Other debts (on credit report):

F) $3400 chargeoff from Lowe's, sent to collections, could probably settle but haven't contacted yet
G) $1500 chargeoff medical bill sent to collections, could probably settle but haven't contacted yet
H) $545 debt 3 years old still on report from collection agency. Believe it's a medical bill
I) $418 chargeoff from TMobile, now with collection agency, could settle for $170

Other debts (not on credit report):
J) $600 in collections
H) $1100 medical bill
I) $450 in assorted other smaller medical bills

I've made poor, shortsighted and quick-fix decisions to past problems. I want to look big picture here and balance what will boost my credit score quickest (car lease up in May, so hoping to improve FICO to get best rate I can) while looking big picture as well.

Any advice is appreciated. Thanks!

EM

[chane]

Before you pay anything, make sure that it is within the your state's SOL and make sure you get a pay for delete. NEVER pay an old debt without doing both of these things. It can make your credit much worse. Every time you pay off a debt you make it current on your credit report. It will stay on for 7 years from the date of last activity and it will still be negative. That's why you want to get them to agree to pay it.

Most of the time they will, because they want their money. If you pay it before negotiating, you will lose all of your leverage and they won't be as inclined to remove the negative listing from your credit report.

[J.A.]

Asking to get "pay to delete" sounds easy to do, but it doesn't seem like most collections agencies are willing to do this. Is there a technique to do this?

[chane]

Originally Posted by J.A.

Asking to get "pay to delete" sounds easy to do, but it doesn't seem like most collections agencies are willing to do this. Is there a technique to do this?

Just click on that link, it teaches you how to do it. If they don't agree to remove it, don't pay. There is really no good reason to pay if it's going to stay on your credit report.