Debt! Which should I pay first?

Mikej92

Hi people!
new to the forum, so I am looking for some good advice on how to go forward.

basically I’d like to know how and which way to pay my debts (the best and most beneficial way)

I have as follows

barclaycard £389, this is a default
capital one £160 (not default- up to date)
paypal credit £150 (not default-up to date)

id assume the default would be the most beneficial to clear ? 

Naomim

From my understanding if an account is defaulted all interest and charges are stopped anyway so it would probably be best to clear the highest interest charging debt first.

Naomim 

NeverendingDMP

You would need to have a look at interest rates and when 0% deals if any run out. Also how much can you afford to pay and how long you think it may take. Good luck x

Mikej92

NeverendingDMP said:

You would need to have a look at interest rates and when 0% deals if any run out. Also how much can you afford to pay and how long you think it may take. Good luck x

I can pay off that Barclaycard , so I think that’s what I’m going to do.

enthusiasticsaver

If you are paying interest on Capital one and Paypal then I would clear those first.  You already have a default with Barclaycard so the interest will have stopped and it will be on your record for 6 years whether you repay it now or not. 

Disney_Princess85

As others have said, focus on the two open accounts then focus on the defaulted one.

RAS

Ignore the Barclaycard until the other debts are paid.

Andyjflet

I would do the Paypal, then Capital One then the already defaulted BC.
Both PP and CO are tough to deal with so just get them gone. 

soolin

thread closed at request of OP