Line of Credit vs Credit Card interest. Which would be better to pay off first?
The past co-owner of the company I worked for ran up the line of credit, and the business card to massive balances. We have about $100,000 on the LOC and $20,000 on the credit card. The line of credit is costing us about $500 a month in interest, and the credit card is costing us about $300 a month in interest. Which would be better to pay off first, and why?