First off, I just wanted to say Hi to everyone, I've been lurking around the forums for awhile and just signed up.
I've been checking out other sites finance sections recently and I realize just how far behind I am So it's time to play catch up.
Secondly, I want to apologize for this being a rediculously long thread, lol.
I really really need some help figuring all this out... I am 22 years old, married, and we don't have any "Major" debt.
I pulled in most of this debt when I was 18, and have just kinda been drifting along for the past few years.
I have our budget pasted at the bottom of this, my main question is this..which of these things listed here do I need to pay, and in which order?
Some are the original creditors and some are collections for the same account.
I also read on myfico that paying a delinquent account does not raise your score even once fully paid it will still be there hurting you, so do I even bother paying
those since they are going to be painfully on my score till like 2012 regardless of being paid?

I guess I just need some guidance here, I came up with this budget recently but I don't think it's enough.
So what should I be paying, if anything?
would a debt consolodation be practical for me, and would it help my credit?
what are my options to get this fixed quicker I mean this isnt the traditional debt situation here, there is no intrest or anything involved here.
I thought about trying to get a line of credit to see if I could get enough credit to pay all these multiple debts off onto 1 current account that wouldnt hurt me
as much as collections accounts, plus having it all on 1 major credit card would be nice, but I would be trading no intrest for most likely a 19% rate.
Pretty much we can afford a little over $1000 a month though so I would be paying a lot more towards that 1 credit card than the minimum balance.

For us I guess it's not so much of a problem being able to pay them, it's "what should we pay, and how do we fix our credit"

Thanks in advance =)

It Begins:
(All account numbers and anything relating to our identites has been removed)
FICO Score: 526


Payment history
Your history of paying bills on time.
Bad

Amount of debt
Your total amount of outstanding debt.
Very Good

Length of credit history
How long you've had credit.
Not Good

Amount of new credit
Amount of credit you've recently obtained or applied for.
Very Good


CAVALRY PORTFOLIO SVCS


7 SKYLINE DR 3RD F
HAWTHORNE , NY 10532
(800) 501-0909

Balance:
$494
Date Updated:
12/2007
Original Balance:
$494
Original Creditor:
11 SPRINT PCS
Past Due:
>$494<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Collection Agency Attorney
Remark:
>Placed for collection<
Date placed for collection: [ 06/2006]
Estimated date that this item will be removed: 11/2010



COLLECTION ASSOC


PO BOX 349
GREENSBURG , IN 47240-0349
(812) 663-2777

Balance:
$98
Date Updated:
10/2005
Original Balance:
$98
Original Creditor:
MED1 02 FMH URGENT CARE CENTER HIGH
Past Due:
>$98<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Collection Agency Attorney
Remark:
>Placed for collection<
Date placed for collection: [ 08/2005]
Estimated date that this item will be removed: 11/2011



CREDIT PROTECTION

POB 802068
DALLAS , TX 75380
(800) 255-6775

Balance:
$478
Date Updated:
04/2006
Original Balance:
$478
Original Creditor:
INSIGHT COMMUNICATIONS
Past Due:
>$478<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Open Account
Remark:
>Placed for collection<
Date placed for collection: [ 01/2006]
Estimated date that this item will be removed: 09/2012



HELVEY AND ASSOCIATES


1015 E CENTER ST
WARSAW , IN 46580
(574) 267-7922

Balance:
$375
Date Updated:
03/2006
Original Balance:
$189
Original Creditor:
10 PSI RESIDENTIAL
Past Due:
>$375<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Collection Agency Attorney
Remark:
>Placed for collection<
Date placed for collection: [ 01/2006]
Estimated date that this item will be removed: 09/2012



HUDSON & KEYSE INC


382 BLACKBROOK RD
PAINESVILLE , OH 44077-1217
(440) 354-6971

Balance:
$1,030
Date Updated:
12/2007
Original Balance:
$1,030
Original Creditor:
01 U S BANK NATIONAL ASSOCIATION
Past Due:
>$1,030<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Date Closed:
06/2007
Loan Type: Collection Agency Attorney
Remark:
>Placed for collection<
Date placed for collection: [ 06/2007]
Estimated date that this item will be removed: 10/2010



IEI FINANCIAL SERVICES


2485 DIRECTORS ROW
INDIANAPOLIS , IN 46241-4907
(800) 226-2446

Balance:
$0
Date Updated:
11/2007
Original Balance:
$311
Original Creditor:
VECTREN ENERGY DELIVERY
Past Due:
$0
Pay Status:
>Payment After Charge Off/Collection<
Account Type:
Open Account
Responsibility:
Individual Account
Date Closed:
11/2007
Date Paid:
10/2007
Loan Type: Open Account
Remark:
>Paid collection<
Date placed for collection: [ 04/2007]
Estimated date that this item will be removed: 02/2014



NCO FINANCIAL


PO BOX 41448
PHILADELPHIA , PA 19101
(800) 709-8613

Balance:
$141
Date Updated:
12/2007
Original Balance:
$141
Original Creditor:
NCO ASGNE OF SBC
Past Due:
>$141<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Factoring Company Account
Remark:
>Placed for collection<
Date placed for collection: [ 04/2007]
Estimated date that this item will be removed: 07/2011



PACIFIC SUNWEAR


PO BOX 33750
NORTHGLENN , CO 80233-0750
Phone number not available

Balance:
$275
Date Updated:
10/2007
High Balance:
$280
Credit Limit:
$200
Past Due:
$0
Pay Status:
>Charged Off as Bad Debt<
Account Type:
Revolving Account
Responsibility:
Individual Account
Date Opened:
08/2003
Date Closed:
05/2004
Loan Type: Charge Account
Remark:
>Profit and loss writeoff<
Estimated date that this item will be removed: 10/2010




UNIQUE NATIONAL COLL


119 E MAPLE ST
JEFFERSONVLLE , IN 47130
(800) 879-5453

Balance:
$37
Date Updated:
01/2004
Original Balance:
$60
Original Creditor:
NEW ALBANY FLOYD COUNTY PUBLIC
Past Due:
>$37<
Pay Status:
>Collection Account<
Account Type:
Open Account
Responsibility:
Individual Account
Loan Type: Collection Agency Attorney
Remark:
>Placed for collection<
Date placed for collection: [ 09/2003]
Estimated date that this item will be removed: 05/2010



US BANK RMS CC


205 W 4TH ST
CINCINNATI , OH 45202
(513) 639-6744

Balance:
$1,182
Date Updated:
05/2007
High Balance:
$1,000
Credit Limit:
$500
Past Due:
$0
Pay Status:
>Charged Off as Bad Debt<
Account Type:
Revolving Account
Responsibility:
Individual Account
Date Opened:
08/2003
Date Closed:
06/2004
Loan Type: Credit Card
Remark:
Transferred to another lender
Estimated date that this item will be removed: 10/2010




WFNNB/VALUE CITY/ROOM GO

PO BOX 182273
COLUMBUS , OH 43218-2273
Phone number not available

Balance:
$2,934
Date Updated:
09/2005
High Balance:
$2,934
Credit Limit:
$2,400
Past Due:
$0
Pay Status:
>Charged Off as Bad Debt<
Account Type:
Revolving Account
Responsibility:
Joint Account
Date Opened:
09/2003
Date Closed:
12/2004
Loan Type: Charge Account
Remark:
Account closed by credit grantor
Estimated date that this item will be removed: 04/2011


Our Budget: ($3800.00 is an less than we normally make, we normally make about 4,000.00, but I would rather budget as if we missed a day of work or something)


Total Monthly Deposits $3,800.00 Total Monthly Payments: $2,405.00

Monthly Rent & Bills
Rent $650.00
Entertainment/Eat Out $200.00
Water Company $80.00
Electric Company $85.00
Trash Company $20.00
Gas Company $45.00
Cable $85.00
Cell Phones $90.00
Total Monthly Bills: $1,255.00

Flexible Household Expenses
Food and Household Supplies $450.00
Beth's Car Gas $80.00
Dog Food $20.00
John's Car Gas $80.00
Personal Spending Money / 2 $120.00
Flexible Household Total: $750.00

Total Budgeted Expenses: $2,005.00

Off-Budget Expenses


John's Debt Total Amount $3000
Beth's Debt Total Amount $3500
Savings $100.00
Dad $150.00
Off-Budget Total: $250.00

Grand Total Spending: $2,405.00

Cash Extra or Short: +$1395.00

Here is my suggestion:
1- Take 1 month extra money of $1395 and pay all the bills that are under $400 in full. It will feel really good
2- Call the other creditors and make payment arrangements of about $150 to $200 per month; for your 5 accounts this will be a max of $1000.00; as you payoff the smaller balances you can increase the payment on the others.
3- Save the extra $395 for a rainy day.
7- in about 7-8 month you will have paid about $7000 of the Debt and have about $3000 in savings

Note: There are some folks here with experience in getting agreements from creditors to delete the accounts if you payoff the account, so spend some time reading the credit forum.

First off, make sure you've read all of the newbie section info. There are a ton of info, but you really need to read it all.

Do not just pay off all debts. A tradeline listed by the OC as charged off has probably been sold to a CA. You would have to determine who the current owner of the debt is. Determine the DOFD on your debts to determine SOL based on your state. It looks like your debts are between 6 months and a few years old. Determine the SOL in your state. Your balances don't look too high. If you've got the money to pay off these debts, I'd go ahead and DV the collection accounts. If the debts are within SOL and they somehow come up with validation, send them a PFD offer. Paying off a debt and still having it listed in your credit reports does nothing for your FICO.