Generally speaking, it makes the most financial sense to pay down high interest loans first. In this case it would be your 9.9% credit card. However, if you are in financial distress and are facing bankruptcy or are considering a debt resolution program, then it makes sense to pay off the car loan so that you continue to have a mode of transportation to get to work, and continue to earn an income.
Regardless of what you decide to do you may want to set aside some of the money into a rainy day fund for reserves.
To learn more about your debt options see Debt Consolidation and Bill Consolidation.
Because it is the case that I don't know the specifics about your overall financial situation I encourage you to consult with a certified financial planner, CPA, or other financial professional to review your debts and investments in detail. He or she should then be able to tell you how best use the funds to pay down your debts.
I hope this information helps you Find. Learn & Save.
Best,
Bill
www.bills.com/
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