Finally, I've got cash in the bank.
But this comes after a few years of building up a credit card debt of about $5,000 and not paying it off. A collection agency has come after me. I'm sure my credit is worse than bad (I'm too afraid to check). I cancelled the card more than a year ago and have since relied on cash.
And as I suggested, things have been looking up. I've got a great job, I've saved about $10K and I'm currently in the market to find a new apartment. In other words, I could really use an improvement in my credit score, and somewhat fast.
So I'm thinking it might be beneficial to sign up for a new credit card and pay off that debt with the card to attack the credit score at both ends. Maybe this is crazy. Or maybe impossible: Are there rules that bar me from paying in anything but cash or check?
Is there a better way to go about this?
I will be calling the collection agency later today. Any help here will go a long way to getting me back on the right track!