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  1. 07-17-2011, 11:33 PM #1
    angela1435
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    Default Pay collections first?

    We are starting the Dave Ramsey plan and we have a few collections accounts to pay. Should I pay those before starting the baby emergency fund?
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  2. 07-17-2011, 11:49 PM #2
    Palooka
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    If they plan on taking you to court, yes.

    But otherwise, no. First get current on all your bills(not the ones in collections)before starting the EF.
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  3. 07-18-2011, 01:24 PM #3
    Josephhgoins
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    I agree with Palooka.

    If they are in collections you have already taken the hit on your credit report. Usually once in collections you arn't be charged any interest and the longer you wait the easier it is to negotiate it down a little.

    If it were me, I would get everything in order first and then start a repayment plan with collections.
    total debt: $23977.09 updated 04/02/11
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