Got caught in a bad real estate deal. I am getting out but need a debt reduction strategy. What debt should?

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Got caught in a bad real estate deal. I am getting out but need a debt reduction strategy. What debt should?

I pay off first? I have a credit card with $20K on it that is 0% for a year. I have a car payment at 9.15% for 15K. I have a $7,000.00 student loan which is annnoying me at 6.9. Thoughts?

2007-11-01 05:06:10 · 2 answers · asked by Tireless 2 in Business & Finance ➔ Personal Finance

2 answers

car studed loan and than the credit card!!!

2007-11-02 04:57:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋

I believe that I would attack the car loan first, as it has the highest interest rate. The credit card also needs to be paid down but until they start charging interest, it isn't too bad.

Would it be possible for you to sell the car, and purchase one with lesser value? Then you may have more cash to help pay down some of the other debt.

Good luck.

2007-11-01 05:16:04 · answer #2 · answered by Fordman 7 · 0⤊ 0⤋