My husband and I have £27,000 worth of debt on loans and credit cards that we pay back monthly
Q My husband and I have £27,000 worth of debt on loans and credit cards that we pay back monthly. We have never defaulted on these payments but feel like we will never see the back of the debt. We are looking to move and have recently put our house on the market. From the valuation we received, we would be looking at making approximately £90,000 on our property.
Should we plough this money into our next, more expensive, house with a smaller mortgage but still having to pay our other debts monthly or should we use some of it to get rid of the debt?
We both live and work in Leicestershire, are in our late 30s and have two school-age children.
GS
A If you genuinely can, I would definitely get rid of your £27,000 debt, provided you resolve to live within your means in the future.
