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cwilltj

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Paying off a loan vs. paying off collection accounts
I have fair credit but my wife has poor credit. She has several accounts in collections (around $5,000) and we are debating if we should pay off those with our tax return or pay off all our credit cards (which range from 10.25% up to 23%) and then use the $300 every month towards her collection accounts.

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Pay off you credit cards first then pay on the collection accounts. UNLESS you can get a pay for deletion deal. You can request that they remove the entry from your credit report in exchange for deleted the paid account.

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