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Who do i pay, Peter or Paul?

Due to a recent job loss I have to tighten my use of available cash.

This also means that some of my creditors may not get paid or i may have to work out a payment plan with one or two.

My question is: Do i continue to pay the smaller managable accounts on time or do i focus on my largest account?

Or, do i work something out with ALL creditors?

I am trying to do my best to keep my credit somewhat fair, while avoiding couseling and the dreded debt negotiating.

What is my best option?  What method will be the quickest and least painfull?

Thanks!

Nick


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Steve
(deleted account)

Work with all of your creditors.

In these times, they would rather have partial payments than no payments at all. You'd be surprised how many might be willing to work out a new schedule of payments. 

To ignore these debts means damaging your credit rating and puts you at risk of legal action.

Good luck
Posted 2009-06-30T15:04:37Z
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Chat live with a Conquest Resolutions Representative

http://www.loanmodificationshelponline.com/live_chat.html

1st thing to do is to check your application or acceptance letter to see if your credit card came with insurance. Sometimes they allow you to hold off on payments until you start working again. If you call them to find this information, keep them on the phone to ask them if you have options to work out some kind of payment arrangement. Your privileges may be revoked during this time but if you tell them that you can only afford to give them a certain amount or file bankruptcy, they may listen to you. If you need your mortgage loan payment to be lowered, let me know as this is what I do and with an A+ Accredited Loan Modification Company. You are welcome to check my credentials. 1-800-557-1467 ext 4
Posted 2009-06-30T15:49:16Z
noticeablejewels was invited by Yedda to answer this question.

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I would have to say that calling all your creditors and asking them how they can help you. Most credit card have there own policys on this and the couple that will work on your conditions should be first in line to get paid. Thanks, Sean

http://www.nextstepcars.com
Posted 2009-06-30T16:30:46Z
Iwayloan was invited by Yedda to answer this question.

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To Get Instant Cash Visit Payday Loans & Same Day Loans

For Financial Advice Visit FinancialGuide Blog

The best way to get rid of debt, experts agree, is to attack the balance with the highest annual percentage rate first. When that one is paid off, move onto the debt with the next-highest interest rate.

But always attack that high-interest debt first. On that debt, you want to "double, triple, quadruple minimum payments." When you're done with that one, move on to the next one.
Posted 2009-07-09T09:44:16Z
Thomson Joseph was invited by Yedda to answer this question.

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