I want to try to bring my credit score up so that I can purchase a home. I have several credit cards that are already in collections. Should I work out a payment plan with each one or consolidateate them all?Any advice on how to bring my credit socre up? I have several crditors that I need to pay, where should I star?
Don't consolidate! Can you afford the minimum payments? If you can, then pay the minimum. Find your smallest balance debt and pay more on that. Pay it till it hurts. Cut back on your spending. No more Starbuck's or dinners out or whatever you like to blow money on (we all have our guilty pleasures). Once your smallest debt is payed, take the money you were using to pay it and apply it to your next smallest debt.
This is called the ';snowball'; method and it works because you see results faster and it motivates you to get out of debt faster. Also, any additional money you bring in - use it to pay down that debt.Any advice on how to bring my credit socre up? I have several crditors that I need to pay, where should I star?
if you consalidate them all you will take a bug hit on your credit plus the charge the company wil charge you for it. consalidating hurts your credit alot more then if you try to work out the debt with the copanies
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