Which debt is better to pay off the one with the large balance and can I choose to select to pay a debt first?
Date: Thu, 05/09/2019 - 05:10
Which debt is better to pay off the one with the large balance and can I choose to select to pay a debt first?
It is up to you. If you can
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.
Negotiate for the largest
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,
Can you afford to settle the
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?
You can obviously have a talk
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.