asked:


I have a student loan debt and I want to pay it off – I really do. I was out of work for awhile so I used my credit card for certain expenses. I know that wasn’t wise, but it was the only choice I had at the time.

I’m working full-time now, but I only have enough money for my bills. I’m trying to cut back as much as possible i.e. lower cell phone plan, bringing lunch to work, no cable, no shopping, switching auto insurance company, but I’m still struggling to pay off credit card debt from last year. I’m currently looking for a second job.

The money I spend on my student loan I can use that to pay my credit card off and then pick my student loan debt back up. I’m considering this because I don’t want my credit to go bad. If I don’t pay my credit card I will have a negative mark on my credit, but if I defer my student loan for awhile it won’t hurt my credit. What should I do? Is this wise? I would really like to hear from financial experts. Thanks!

Credit Debt Consolidation