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  • FIRST POST
    • KellyJay
    • By KellyJay 14th Jan 20, 8:25 PM
    • 3Posts
    • 0Thanks
    KellyJay
    Help. Which accounts should I pay first?
    • #1
    • 14th Jan 20, 8:25 PM
    Help. Which accounts should I pay first? 14th Jan 20 at 8:25 PM
    Hi, i was wondering if anyone could help me increase my credit score. Me and my partner are looking at buying a house this year, but due to being young, silly and naive a good few years ago... my credit rating isn't that great. Its poor actually. There are 5 old account and 2 relatively new ones. The old accounts have really small balances, literally one is about 47 and the biggest is 150 all together about 400 (some have defaults but over the passed 3 years, I have kept up with minimum payments) I am aware of the defaults lasting 6 years, they have 2 years left. The newer ones are Very and Argos. They have bigger balances, from 600 to 1000... my question is, I'm getting some money soon, which I'm going to use towards my debts, however I'm wondering am I best clearing the smaller ones off with it (the money I'm getting wont be enough to clear everything) or shall I use it to pay off a chunk of the bigger balances? Which method do you think would help my score more? Sorry for the essay but any help would be great. Thanks Kelly x
Page 1
    • DCFC79
    • By DCFC79 14th Jan 20, 8:38 PM
    • 35,689 Posts
    • 22,522 Thanks
    DCFC79
    • #2
    • 14th Jan 20, 8:38 PM
    • #2
    • 14th Jan 20, 8:38 PM
    Hi, i was wondering if anyone could help me increase my credit score. Me and my partner are looking at buying a house this year, but due to being young, silly and naive a good few years ago... my credit rating isn't that great. Its poor actually. There are 5 old account and 2 relatively new ones. The old accounts have really small balances, literally one is about 47 and the biggest is 150 all together about 400 (some have defaults but over the passed 3 years, I have kept up with minimum payments) I am aware of the defaults lasting 6 years, they have 2 years left. The newer ones are Very and Argos. They have bigger balances, from 600 to 1000... my question is, I'm getting some money soon, which I'm going to use towards my debts, however I'm wondering am I best clearing the smaller ones off with it (the money I'm getting wont be enough to clear everything) or shall I use it to pay off a chunk of the bigger balances? Which method do you think would help my score more? Sorry for the essay but any help would be great. Thanks Kelly x
    Originally posted by KellyJay
    First of all your score or rating is only seen by you, lenders see your history.

    You should clear the debts with the highest apr.

    Maybe you shiuld pop over to the debt free wannabe board and post an soa.
    • nicetomeetyou
    • By nicetomeetyou 15th Jan 20, 8:30 PM
    • 260 Posts
    • 99 Thanks
    nicetomeetyou
    • #3
    • 15th Jan 20, 8:30 PM
    • #3
    • 15th Jan 20, 8:30 PM
    I would clearer the larger debts. This way when the larger debts are cleared it feels like your making headway with the smaller/easier debts.
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