https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 05 Jul 2026 01:21:03 +0000 https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336168 Tue, 27 Oct 2015 18:51:09 +0000 peaches1038 2336168@https://boards.hellobee.com/ <p>@gotkimchi: I definitely will, thanks again </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336161 Tue, 27 Oct 2015 18:45:48 +0000 gotkimchi 2336161@https://boards.hellobee.com/ <p>@peaches1038: no problem if you have questions let me know, I wished i would have checked into it sooner </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336160 Tue, 27 Oct 2015 18:43:17 +0000 peaches1038 2336160@https://boards.hellobee.com/ <p>@gotkimchi: Thank you!!! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336151 Tue, 27 Oct 2015 18:36:28 +0000 gotkimchi 2336151@https://boards.hellobee.com/ <p>@BandDmommy: thanks!</p> <p>@peaches1038: federal and through DRB. Also checked sofi but got a better rate at DRB. Very fast and easy and DRB has excellent customer service! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336145 Tue, 27 Oct 2015 18:35:01 +0000 peaches1038 2336145@https://boards.hellobee.com/ <p>@gotkimchi: Not to thread jack, but did you refinance private or federal student loans? And through what company? TIA! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336140 Tue, 27 Oct 2015 18:31:30 +0000 BandDmommy 2336140@https://boards.hellobee.com/ <p>@gotkimchi: I'd refinance your husbands loan and pay off your car. </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336138 Tue, 27 Oct 2015 18:28:50 +0000 gotkimchi 2336138@https://boards.hellobee.com/ <p>@BandDmommy: I just refinanced mine recently down to 3.5 from 6.8. My husbands aren't eligible yet but will be in May and we will do that then if possible! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336134 Tue, 27 Oct 2015 18:26:54 +0000 BandDmommy 2336134@https://boards.hellobee.com/ <p>Can you refinance your student loans to a lower interest rate? </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336125 Tue, 27 Oct 2015 18:23:58 +0000 AprilFool 2336125@https://boards.hellobee.com/ <p>I know they say highest interest rate first but I always had more luck with smallest debt first. The sooner one is paid off the more money you have to throw at the others. </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336042 Tue, 27 Oct 2015 17:01:04 +0000 MediaNaranja 2336042@https://boards.hellobee.com/ <p>@gotkimchi: Yeah, definitely a bummer because my actual payment is lower than that!! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336039 Tue, 27 Oct 2015 16:56:39 +0000 gotkimchi 2336039@https://boards.hellobee.com/ <p>@MediaNaranja: interesting! </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336034 Tue, 27 Oct 2015 16:53:03 +0000 MediaNaranja 2336034@https://boards.hellobee.com/ <p>@Raindrop: We're in the processing of buying a home and they definitely look at student debt :bummed: For us they didn't use my actual payment, but rather 1% of the outstanding debt.</p> <p>I would go with the car, personally. </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336030 Tue, 27 Oct 2015 16:49:57 +0000 Raindrop 2336030@https://boards.hellobee.com/ <p>I would pay off the car first.</p> <p>Also I heard from my co-workers that when you are applying for a home loan they don't look at your student loan debt. I didn't have student load debt so I can't confirm this... but maybe others can? </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336006 Tue, 27 Oct 2015 16:25:47 +0000 gotkimchi 2336006@https://boards.hellobee.com/ <p>@MaryM: we're talking 500/month extra. The car is in. Oth our names so maybe that's a good place to start! His loans are multiple loans at different rates </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336004 Tue, 27 Oct 2015 16:19:44 +0000 MaryM 2336004@https://boards.hellobee.com/ <p>For me, it would depend on how much money you're able to throw at the debt. </p> <p>If you can pay something off entirely, I would start with the car, then move on to whatever student debt has the highest interest rate. </p> <p>If you're only paying toward or paying down debt, I would start with the smallest debt (which i guess is still the car) and work your way up trying to pay off loans in entirety before moving on to pay more on the bigger ones. </p> <p>I phrased it that way because with the range of rates on your DH's loans, I don't know if the rate is variable or if it's a number of smaller loans at different rates.</p> <p>ETA: I just reread and saw that you'll be purchasing the house in your name only. In that case, I would focus more on the debts that have your name on them, but then generally follow the same principle. </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2336002 Tue, 27 Oct 2015 16:16:54 +0000 gotkimchi 2336002@https://boards.hellobee.com/ <p>@looch: we do not :( all though I'm considering filing our taxes separately this year and seeing if that does anything</p> <p>Eta: I think we will be eligible for the deduction this year - dh was laid off last june </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2335999 Tue, 27 Oct 2015 16:12:28 +0000 looch 2335999@https://boards.hellobee.com/ <p>Car, assuming you still get a deduction on the student loan interest, otherwise highest interest debt. </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2335996 Tue, 27 Oct 2015 16:10:31 +0000 sunny 2335996@https://boards.hellobee.com/ <p>Edit: What Looch says below :-) </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2335995 Tue, 27 Oct 2015 16:09:34 +0000 MrsRcCar 2335995@https://boards.hellobee.com/ <p>Car! My family says always start with the the smaller debt. The faster pay off will get you excited to pay off the next. 😉 </p> https://boards.hellobee.com/topic/which-debt-would-you-pay-first#post-2335990 Tue, 27 Oct 2015 16:07:11 +0000 gotkimchi 2335990@https://boards.hellobee.com/ <p>29,000 @ 3.5% my student lo<br /> 27,000 @ 4-6.8% dh student loan<br /> 13,000 @ 3.5% car loan</p> <p>If it matters, we recently sold our house and will be purchasing a new house in my name. Not sure if paying down my student loans will give us any advantages with that (approved for more?) </p>