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Strategy for tackling debts ?

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I'm trying to get debt free and have cleared a few so far and now I'm down to the last few and I'm not sure the best way to tackle them.
The debts are £6500 loan that has around £4600 to pay.
£3500 loan for car finance.
£850 credit card.

I have a £1000 to put towards one of them right now and am able to save up a bit extra every week to continue paying more off than the standard monthly repayment but I was wondering would I be best trying to pay one off the fastest to get rid or be better off reducing the biggest one ?

I'm not to bothered about the credit card one right now as I'm just paying the minimum payment on a 0% interest rate and I'll transfer the amount to another 0% card when the 12 months are up.

Comments

  • What interest rates are you paying on car finance and loan? Pay the £1k off most expensive debt
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
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  • By paying the loan with highest interest, you will get some of the interest back
    GOAL 30th November 2017 - 100% paid off, 0% debt left
    31st March 61% paid off:T
    March 2015 Debt at Highest
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