Question

When paying off debts ,you should ___ .

A. pay the minimum
B.pay as much as possible
C.pay slightly more than the minimum
D.pay exactly half of what you owe

Answer 1

B: because you will have to pay an little more when u have the money

Answer 2

B.pay as much as possible

Explanation:

Debts are unpaid money that a person owes to its lenders. The lender can be any bank or any other financial institution or any person.

Long accumulated debts on banks, if not paid, can result in a person filing for bankruptcy. So, it is always good if you pay your debts on time.

Paying minimum or slightly more than minimum amount will result in paying more in the near future. It is possible that if you always pay minimum amount, you will not be able to clear debts anytime soon.

So, its best that if you have money, always pay as much as possible to get rid of your debt.