Snowball debt method question

possle

Evening all

We're in the process of getting our act together and clearing debt using the snowball method, so far, its working well.
We're on target to clear a card in just over 5 months and so on from there.

Does this method include any form of debt?
We have a loan which in terms of amount owed could be paid off in around 6 months but iis it right to go that route?
Or do we stick to cards and then go to the loan after?
It's no big deal time wise!

Cheers

sourcrates

It really depends if your debts have defaulted or if you are still under contract.

Some loans allow you to overpay, without penalty, but some don`t, if its a defaulted account, you can do pretty much as you please.

Brie

Also loans tend to be less interest than credit cards - obviously the best thing to do, generally, is to focus on those debts that have the highest interest as paying those sooner will benefit you the most.