If you have loans or owe money on credit cards it usually makes sense to pay off the debt that charges the highest rate of interest first.
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If you’re overwhelmed by your debts>
Often, the hardest part of paying off your debts is taking the first step.
It’s easy to feel overwhelmed if you know you’re struggling financially. It’s tempting to bury your head in the sand and ignore your bank statements and demands for payment, but it won’t make the problem any better and could make it worse.
So, take a deep breath and open any letters you’ve been ignoring.
Once you’ve done this, at least you’ll know what you have to deal with and you can work out what you need to do next.