Talk to "suzeorman.com" or "Dave Ramsey". Both are very experienced and ask the right questions to help you make a good decision.
It will help your credit score but take a few years to drop off.
Are these debts in good standing or they in arrears or in default? That will make a huge difference. If the former, paying them off doesn't erase a record of defaults or late payments. That takes years to repair.
yes good idea
My husband is making enough in bonuses this summer to pay off all our existing debt. I don't know the exact number, but his current credit score is not good at all. We are first time home buyers, own our car outright and once our debt is gone we will have no other expenses besides normal living expenses. We would love to buy a house ASAP but my question is, how long do you have to wait after paying off all your debt to get approved for a loan? Does part of it depend on the loan amount?
