Credit report - missed payments and paying in full

scott1358

Hi,

Hoping someone who understands credit reports can help me here. I have struggled with payments on a store card and credit card that I have had for about 7 years for the past 6 months and missed quite a few payments, at the moment I am behind about two months.

I haven't spoken to the companies but apart from adding charges they seem relaxed as long as I make some payment. I am receiving some back pay for my job at the end of March and it is enough to pay off these debts, so I really just want to pay them and close the accounts.

My question is: is it better to just pay off the balances in full on the accounts and close them immediately, or make big payments (£100-£150 per month) until the balance is paid so it looks like I have been paying regularly on my credit file, instead of recently missing payments? I really just want to pay these off before the temptation to spend the money on something else arises. I don't plan on getting any more credit (burned in the past) in the next few years but I don't want to try and present my most recent accounts in the best light I can.

Any help is much appreciated. :j

DVardysShadow

Pay them off in full. Dancing around trying to concoct a narrative in the credit files that you paid regularly after a rough patch is largely a waste of effort.