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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?

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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?

Sub: #1 posted on Thu, 05/09/2019 - 07:01

David Martin 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.

Sub: #2 posted on Fri, 05/10/2019 - 06:31

Mabelle Page Mabelle Page

(Posts: 202 | Credits: )

Negotiate for the largest amount first. Tell them that if they don;t agree, you have to file bankruptcy, They may agree with your proposal. If possible settle both the debts. Start saving money,

Sub: #3 posted on Fri, 05/10/2019 - 06:34

sanderspatricia29 sanderspatricia29

(Posts: 967 | Credits: )

It is up to you. If you can afford to pay off the larger balance, do it. But if you can't afford it, it is better to pay off starting from the smallest balance first.

Sub: #4 posted on Sun, 05/12/2019 - 22:36

Barbara Delinsky Barbara Delinsky

(Posts: 402 | Credits: )

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