Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
jrick3188

0 Contributions
0 People Helped
Charge offs accounts
I have approximately 20 credit cards that are either charged off or in collections. My goals is to start paying them off. I want to pay them off but in return I would like them removed or at the least updated with a paid status. Where is a good place to start and what is a good method to tackle this big mess. Is it best to start with the lowest amount or highest interest rate. After they are all paid off or nearly what is a good way to increase my credit score?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
3051 Contributions
2786 People Helped
Most Helpful Response

Helpful to 2 out of 2 people

Tackle the newest ones first, because they are doing the most damage to your score.  The older the account is the less damage it is doing.   If you can get them to agree in writing to delete the account from your report once it is paid, then great.  If not, at least a paid collection is less damaging than an unpaid one.  And remember, all these accounts will fall off your credit report 7 & 1/2 years from the date they went delinquent, so if some are getting close to that age you  may want to wait it out before paying them.  Best of luck!

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.