Order to pay

iVillage Member
Registered: 10-10-2007
Order to pay
2
Fri, 07-25-2008 - 1:20pm

Hello everyone,

I have been working for the past 2 years to try and eliminate my CC debt. It has been difficult because I have been in school fulltime, but I just graduated and have a permanent job lined up (I start in September, yay!) which will pay me a good salary. I will still have a lot of student loan debt, but if I can get the CC out of the way, I'll be happy! I successfully paid off one card last summer, and I have a 0 balance on it now. I do use it on occasion if I have an emergency, but always pay it off. I still have 2 others, though

The first (I posted another thread for this) is with an attorney. The debt was charged off by the original creditor and sold. The new creditor hired an attorney, and I have been working with him to pay this off. I'm upset with myself about this, becuase I had worked out a payment plan wiht the original creditor, and then I messed up and now I'm in this situation. But, I am working hard to fix it and trying not to focus on the negative. I had owed 4,643.79 on that one. I now owe 2,600 on that account. I have been making payments of at least 300 a month, even though my deal with the attorney is 275 a month. I am not being charged interest, but on my credit report, I don't get the current payments reflected. I was promised a letter at the end, which I guess I then send to the credit bureaus and they'll adjust it accordingly.

I owe a total of 1675 on my other card. It has never been past due. I just make the minimum payment on it every month, sending anything extra to the charged off card.

Is this a smart way to deal with my debt, for credit-building purposes? Or should I focus on the current card?

Thank you!

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
In reply to: xoxo5411
Fri, 07-25-2008 - 1:45pm
As long as you are making the minimum payments on the credit card, don't worry about it.

All my best,
Danni

iVillage Member
Registered: 10-10-2007
In reply to: xoxo5411
Fri, 07-25-2008 - 1:52pm
Thank you! I'm glad I haven't been doing the "wrong" thing all year!