To minimize debts, pay off loans with the highest interest rates first. Pay off credit card debts first, followed by any car loans, but make sure to pay off all your student loans as well. Pay off the loans with the highest interest rates first. If you need help consider getting all your student loans, car loans, and credit car debt consolidated into one payment. Many reputable companies will help you, just be careful of shady deals. If it sounds too sweet to be true, then stay away and make sure you read all the fine print.