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LaughingBubbles

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Is it better to pay/settle old collections, or to pay down current credit card balances?
In trying to up my credit score, I'm wondering if I should pay or settle old credit card accounts (that are mine, and are about 2 years old and are valid), OR should I pay down the balances on my current credit cards. Which will bump my score higher and faster?

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Do some reading on "pay for delete agreements" usually these won't fly with the original creditors, but sometimes can work with the collection companies. If you could get a collection removed that would be much better than just getting it marked as paid. You need to be careful in trying to negotiate on these accounts if they are still within the time frame for you to be sued for them. Look up the "statute of limitations" in your state to be sued for credit card debt. I am not sure what to advise you here, all I can suggest at this point is to read as much as you can on the subject before making your decision. I will say this though, the quickest and easiest way to boost your scores now would be to pay down current credit cards if your utilization is high on them. BUT you also want to double check to make sure that the closed cards are not counting toward your utilization as this can sometimes happen. They shouldn't be showing any balance if they were sold to collection agencies.

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