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Which debt is better to pay off the one with the large balance and can I choose to select to pay a debt first?

Submitted by Kerrythorns on Thu, 05/09/2019 - 05:10
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I have a few questions. I have accumulated quite a few debts which I'm trying to pay off. I have decided to negotiate with my friend's help. I am talking to the debt collectors. Coincidentally 2 of my debts are with one collector. The agency is negotaiting with me. I want to know just for my knoeledge that can I say on which debt I'll repay fast? This is for my credit credit report. The debt I want to repay is the larger balance one. Though It's easy to pay off the one with the smallest balance. What do you suggest?


Can you afford to settle the larger balance first? Do you have that financial affordability? If not, then settle the smallest one first since that will be easier to do. Obviously, if you're thinking about your credit score, then it is better to pay off the larger one since it will help to lower your credit utilization ratio. Did you get my point?


Submitted by David Martin on Thu, 05/09/2019 - 07:01

David Martin

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You can obviously have a talk with the collector to settle the debt of your choice. You will be stress-free if you settle the highest balance first. Negotiate and settle one by one. Ultimately what matters is getting rid of debt.


Submitted by Mabelle Page on Fri, 05/10/2019 - 06:31

Mabelle Page

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