[UpstateUpset]

I do have bad credit and old debt, I just received a large sum of money. How should I pay off my old debt, invest wisely and purchase a new home. I have considered a lease with an option to buy. Should I try to get a mortgage now or see how things are in 2 years? I want to pay off my debt and invest some money in CDs- but I'm afraid to give up too much of the money too quick.
Thank you in advance.

[ScottGem]

If the debt is active, then pay it off. If it has been written off, offer a settlement of between 50%-75%. That should clear up your credit enuf to get a mortgage especially if you can put down a large down payment.