There is not enough information to make a recommendation. We would need to know your amount of debt, the type of debt income, current savings, retirement goals, etc. I would recommend setting money aside for an emergency fund, so that even in case of unexpected loss of income or large expenses, you will not fall deeper into debt. Then, try to make timely payments on all your debt to avoid negative effects to your credit. After that, you can focus on clearing your debt, or balance between debt payment and saving/investing for your future. To get a more specific recommendation, you can talk to a financial planner who can help you develop a proper financial plan that fits your financial situation.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.