When repairing credit is it best to pay the small debt first or large debt first?

Or should I pay the older debt off first? I want to raise my credit score by paying off my debt over time. Some of it says it falls off this yr of 2008 (guess its debt older than 7 yrs) So does anyone have suggestions?

When repairing credit is it best to pay the small debt first or large debt first?
Fastest way to improve your credit score is to pay off current credit card balances. Carrying balances of more than 30% hurts your credit score.





Paying off old debt won't increase your score. However, creditors look at more than just your score. They look at the whole report. A paid old debt looks a lot better than an unpaid one.





The best way to work on the derogatory items is to start with the newest and work backwards. The older the debt, the less impact on your score. Just let items that are close to the 7 year mark age off your report.





When you contact the creditors, be sure to get any settlement agreement in writing and don't give them access to your bank account. You can ask for a delete for payment -- some will, some won't. The older the debt, the more likely they will settle for a lesser amount. Lump sum gets the best deals. Any payment plan has to be short term.
Reply:snowball your debt


meaning that you pay your smallest ACTIVE accounts first


once the smaller one is paid use the money that you were paying on that account to DOUBLE Up on the next one and so forth


Alternatively


you migth want to pay the accounts with the highest interest rates first!
Reply:Well, not knowing the full situation, I would say pay off either the highest interest one or the one with the smallest amount. You don't want to have two large debts. Take one of them off if you can, 'cause you don't want that interest rate to go even higher.





I'm sure it looks better on your credit to have one debt currently listed instead of two.
Reply:if the debt is already closed out from the vendor, meaning they have written it off and aren't counting on you paying (so they do not call you anymore)--- it doesn't matter when you pay, as long as you do. It will not be reported back to the credit companies as paid until it is paid in full. So, if you can handle doing the smaller bill at one time just do that, and work your way to the big one. It's good that you are trying to repair your credit, it is supposed to take several years and you should get started now. Good luck. Also, in my experience, the debt doesn't "fall off" and not get counted on your credit report... it is always there. Even long after you pay it off if someone wants to see that past stuff they still can. Your score is affected by many things, included really old debt.