Pay off credit card or student loan?

[Goonerview]

You sound financially irresponsible tbh

People make mistakes. Sometimes the only way to learn and grow is to fail and fail hard...

 

[Goonerview]

Nobody has asked you what country you live in.


thats kinda the most important information.

if its UK, then fuck the student loan, you dont pay those back till you earn over x amount anyway



I would use the oportunity to see if you can get a better credit card deal, look at credit card that will take your existing balance and give you an interest free period or something if you tell them "hey i can pay 30% off straight away"

I remember, a long time ago, I defaulted (or almost defaulted) on a credit card. The balance was transferred to debt collectors. I called them up, asked to talk to the manager and negotiated a deal, freeze the interest if I promise to pay if off in a couple of big chunks.

I'm not saying this is possible for everyone, but it is worth looking into.

To all the naysayers, saying "your credit history is going to suffer", credit rating is pretty easy to build back up again.

TS's company seem cool to give him a big payment like that for his debt. He should stick it out and if he is careful with his money, he could be debt free in 6-12 months. Which is nothing.

 

[bigbangspiritbomb]

Pay off both but, if you must pick 1, choose the one with the higher interest rate.

 

[Aquabot]

19% on the credit card is really high. First thing I would do is try to get that transferred to a lower interest card. There are a lot of cards out there that will let you transfer the balance of the higher interest card over for free. Just talk to your bank and see what options they have.

 

[irish_thug]

Always pay off the higher interest debt first, always.

 

[bufetadanacara]

So my company reimburses you for college classes. I just got my reimbursement check for this past semester, so I can pay off my student loan or I can pay off 30% of my credit card debt.

I think it's probably a no-brainer that I should pay off some of the credit card since the interest rate is much higher than the student loan. But then I heard that you can never get away from a student loan, even if you file bankruptcy.

Now I'm not likely to file bankruptcy anytime soon, but finding that out did make me start to wonder if there were any other disadvantages to paying off the credit card instead of the student loan.

So as with every life decision, I thought the best thing to do was to ask a bunch of dudes that watch UFC.

I'd pay the credit card, especially if it's costing more.

There also remains the slightest of chances that your student debt may be wiped clean sometime in the future, once America's great again.

 

[Swiftie]

You said your student loan balance is $3,300 and you just received $3,300 from your company. I say use the money to pay off the student loan. You would no longer have to make this payment. You can take the monthly payment for this loan and increase your payments toward the credit card. If you pay down the credit card, you still have two payments to make each month.

 

[zenpokaiten]

Pay off student loans. Credit card debt is discharable thru bankruptcy whereas student loan debt (generally) is not.

 

[kahiljabroni]

CC... then pay off the REST ASAP. Then cut it up. Then attack the student loan

 

[FyrFytr998]

Student loans first. Whatever you pay on the credit card will just entice you to spend it in moments of weakness.