Hi Terri,

The most intelligent use of your available funds when settling debt will generally be settling the accounts that you get the best percentage reduction from first.

Each of your creditors has different policies when settling. Those policies can be different for different types of accounts and balances, even with the same creditor.

Having said that, depending on how long it is going to take you to settle all of your credit card or collection balances, you will also need to adjust your strategies if you have creditors that are more likely to sue than others. You have to adjust for accounts that may be placed with outside collection agencies earlier than others. The state you live in can also be a factor in how you prioritize which accounts to settle first, second, third etc…

This all may sound a bit complicated, but it isn’t. Not when you have access to work with someone who knows all the ins and outs with each creditor and what is likely to occur before it happens.

I would highly recommend you enroll with CRN as a member. Go here to learn more:  CRN Membership. As a member you will be able to work one on one with a specialist who helps others in your situation every day.

The way I read the little detail you provided suggests you are looking at doing these settlements on your own. That is great! You can and should! The CRN membership program is designed to assist you in doing your own settlements with all the ongoing support you need to assure you are not leaving money on the table (getting the best deals), and help you navigate and adjust your strategy to the many twists and turns that are going to happen along the way. If you need us to jump in and negotiate a deal for you, we can help there too and the fees are the lowest percentage of savings in the industry.

If I, or another CRN debt coach were to give you a more detailed answer, we will need to know who your creditors are and the balances on each account and additional personal details that are better handled one on one. You are welcome to post more detail in comment replies below and you will continue to get helpful information and feedback.

Here is to your success!