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Need Advice you guys

May 20th, 2009 at 03:39 pm

I received a $500 check as a apart of a class action suit. I'm stuck I don't know if I should apply it all to debt or pay 2 car payments with or place it in savings and increase my EF a little while I'm on my debt snowball. What would you do??

6 Responses to “Need Advice you guys”

  1. creditcardfree Says:

    As long as you have a small EF, I'd always put extra money on the debt. That's how we always done it. Works for us!

  2. Blue Eyes Says:

    I agree with creditcardfree.

  3. baselle Says:

    Depends on what you feel is more pressing - if your credit card interest is through the roof, go for the debt. If you are worried about keeping your job, the EF.

  4. Jerry Says:

    I think it depends on whether your EF is at a point where it leads you to feel a little safer. If so, then I would pay off debt. If not, put some of it in EF and put the rest toward debt. If car payments or car insurance are causing major stress, you might put some there, but it depends on where you are at. You have a myriad of options! All things being equal, though, if the EF is good then I say debt of some sort.
    Jerry

  5. Tech Support for Lenovo Says:

  6. cvresumewritingservices.org/blog/why-you-need-a-certified-resume-writer Says:

    I would prefer to repay the loan for the car because this will help it to pay off much faster and start to really save money.

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