Am I better to pay a little across the board of clear an account each month?

Fawun

Hello,

I'm starting the slow log of clearing up my credit report, I have 2 I satisfied CCJS; one due to drop off next year (£402) and the other due to drop off the year after (£373)

I have a number of accounts currently in default - 6 to be exact and a break down something like this -

Date of default & amount owed
18/09/11 £371
2/9/11 £315
19/11/11 £300
8/7/13 £537
8/4/2015 £377
1/1/16 £1207

I want to start working through this, between 2010-2014 I was a student working part time so I wasn't in a position to pay anything back so I sort of left it!
I have a steady income now and I want to start clearing it - I could afford to pay off one default/CCJ per month until they are all gone or I could make small payments across the board for many months.

Which would be be a more effective way of starting to improve my credit rating?

Mirno

Are any of them accruing fees or interest of any sort?

As they are in default are any of the companies you owe money to willing to take a full and final settlement offer? The damage has been done, so if they'll settle the debt for a lower amount it'll help you clear the others sooner.

Fawun

Mirno wrote: »

Are any of them accruing fees or interest of any sort?

As they are in default are any of the companies you owe money to willing to take a full and final settlement offer? The damage has been done, so if they'll settle the debt for a lower amount it'll help you clear the others sooner.

I believe the credit cards MIGHT have been gaining interest but don't appear to be doing so now, I can clear them this month just in case.

I think on some of the older defaults (2011) they will absolutely be happy to take a small token payment as I'm sure they think there's no way they are getting paid at the moment as its been so long.