I have about 12 accounts that are collections they are all small amounts 100 to 700 dollars. On my current income I can pay out 250.00 a month how can I go about paying to #1 pay the least amount total. #2 has the maximum positive effect on my very poor credit?
I bought a car at 24.99percent interest. It is worth about 4500 to 5700 in real money however I owe 15,000 to the bank what if anything can I do about that?
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Follow the link for the debt snowball method of paying off your debts. The debt snowball is a very effective way to get out of debt and it would work wonderfully for you. Once you get all those collection accounts paid off then we can start to focus on improving your credit using a secured card or two. Once the credit improves you could then start to think about refinancing the high interest rate car loan.
We need to take this is stages.