What Debt To Pay First?
I recently received a financial gift of $10K. I currently have two outstanding debts. The first is a credit card with a balance of about $8000 with a 12% interest rate. The other is an outstanding 401K loan of almost $8000 at 8.25% for 60 months. (Loan taken out 12/07 to cover funeral expenses).
Which debt should I pay off first? and why?
Last edited by lp_fatcat : 04-08-2008 at 12:34 PM.
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