It’s one thing to deal with a mountain of credit card debt. But what happens when your debt comes from a variety of sources? Which debts are most important? Which ones should you try to pay off first? Your credit cards or your car loan, for example?

While there are no hard and fast rules that apply to everyone, here are some things to think about.

3 Questions to Ask When Prioritising Debt Repayment Plans

Ask yourself these three questions to help you figure out which debts you should try to pay off first — credit card debt or other debts. Note that this is assuming you’ll make at least your minimum payments on all debts and just focus extra available money on paying down debts completely one at a time.

1. Is the debt secured with some asset you might lose?

This area can be a bit complicated. If all of your debt payments are technically up-to-date, you can focus on paying off the smaller debts (probably credit cards) first. After all, things like mortgages and car loans are designed to be paid over a longer period of time. However if you’re about to default on something, avoid a default on a secured loan at all costs so you don’t risk losing the property that secures the debt.

2. What interest rate are you charged on each debt?

In most cases your interest rate is the most important consideration. The higher the interest, the more that interest counteracts every payment you make. That means less money goes towards paying down your principle balance. While there are other strategies for getting out of debt (like paying off small balances first to keep you motivated), paying off your highest interest debts first will usually help you get out of debt the fastest. Those higher interest debts will often be your credit cards.

3. What other fees are associated with each debt?

It’s also worth considering fees beyond the interest you pay. For example, if you have a credit card with a very high annual fee, that fee might actually cost you more than interest on another debt over the course of the year (even if that card has a low interest rate itself). Think about the inevitable fees; late fees and similar fees shouldn’t be a consideration unless you’re in a more desperate situation where you can’t even meet all of your minimum monthly payments.

Because every consumer’s individual debtors and amount owed varies, there is no one-size-fits-all approach to deciding which debts should be paid off first. In the end you should consider two primary things: risk of loss and the cost of carrying each specific debt for longer than necessary. When you compare the numbers, you’ll find your own answer.