Q&A: I am trying to get out of debt, should I pay off the old debts first or the current debts?

Question by customcat2000: I am trying to get out of debt, should I pay off the old debts first or the current debts?
I know I would need to keep current debt from falling past due, but I have old debts that have never been paid, should I take care of them first or try to pay off the debts that are current?


Best answer:
Answer by NancyYou need to make payments on all debts for good credit history but you should definitely payoff the debt or debts with the highest interest rate FIRST. That is, put all of the extra money you have towards paying off the debt with the HIGHEST INTEREST RATE.

Give your answer to this question

Read more ...