“Dear Steve,
Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.
I am trying to get my financial house in order, I must work on cleaning my credit. Shall I pay off old debts or new debts first?
Jeanette”
Dear Jeanette,
It does not matter what debts you pay off first, unless the old debts are in default, if they are, pay those off first.
It is important to know if the old debts are mainstream credit cards, don’t close those accounts once you pay off the debt. Those old accounts help you more than your new accounts do. If you are going to close any accounts, let them be the new ones.
