Should I pay off my loan or LOC??

[Mark Cole]

Hello BP family. I have two major debts a 21K balance on a loan that i have at 6.99% interest and a line of credit with a 28k balance and 12.99% interest. I did a flip and made 40K. I truly want to invest in another property but i also want to get this debt down. So Im trying to decide should i pay off the loan and be done with it and continue to make LOC payments or should i pay off the LOC and contunue making loan payments ?? I am thinking paying off LOC which will still give me access to the LOC funds and continue making loan payments?? I know its a smart way to do this and I know this is the place to find out how. Thanks in advanced.

[Nathan Gesner]

Pay off the 12.99% interest first. Then pay off the 6.99%. Don't invest in anything until you have these debits paid off and can prove yourself financially responsible. Invest from a foundation of strength, not borrowed time.