Which balances should I settle first?
Date: Tue, 01/20/2009 - 22:55
I have 5 credit card accounts that I will need to settle on because I can't pay them. I doubt with my reduced income I can settle the two largest ones (22k and 15k). Should I try to reach settlements with the ones I believe I can pay and hope my income improves to settle the others later after getting the smaller ones off my back, or is working them largest to smallest the best course of action?
If I were you then I would have paid of the smallest ones first
If I were you then I would have paid of the smallest ones first and then move gradually to the largest ones. When you see your debts getting paid then you get a psychological boost up. It helps you to pay off the rest.
