Cancelling DMP - Which Debt to Pay First?

rickyc93

Hi All,

I've had a change of circumstances that will allow me to cancel my DMP, return to somewhere near 'proper' payments on debts, and also pay off a couple of smaller accounts.

My issue is - I don't know which debts to pay first in order to have the best impact on my score.

I've narrowed it down to two candidates, and wondered if somebody with more knowledge of the subject than me could advise:

1. Credit card, £950, marked as DEFAULT and LATE PAYMENT on my credit file

2. Payday loan, £950, since passed to Credit Resource Solutions, but actually marked UP TO DATE on my credit file

My first choice was to pay CRS since they're clearly a debt buyer, but since they're reporting I'm up to date, I wondered if paying the default off first would look better?

Thanks so much!

Ricky

candiii

A satisfied default is always gonna look better than an unsatisfied one