i now have a spousal support payment that i didn't have before. i've stretched and juggled as much as i can, but as of last week i just had my first 30 day late car payment in about 15 years. it's going to all very slowly go to shit until about feb when i'll get an annual bonus that i can then set aside to cover the spousal support for the year, and start to better manage my month to month bills better again. my options, as i see them -
- keep juggling and i'll have several late payments between now and march where i can finally start to recover. take a very prolonged hit on late pays and late fees.
- pay NOTHING on most cards (i have 16 credi/retail cards at about $22k total) each check and just dump the $700 or so i'm making in monthly payments into the smaller cards. i'll take a hit, but could actually be debt free by march or so.
to add to this, i'm in desperate need of a new house. (no joke, the one i'm in needs serious repair. i pay nothing in rent as it belongs to family, but i need to move soon). i'll need a min score of 580 for a mtg, but i'm at 550 right now.
tldr: is it better, payment wise and credit score wise, to make huge payments to smaller accounts and pay rapidly, or prolong the process w monthly payments? also, which will allow my score to recover the fastest?
Submitted June 16, 2017 at 08:59AM by PM_MeINeedANewWife http://ift.tt/2ta01oS
