Share windfall vs crdit card debts

rmc76_2

Sorry if this has been answered a thousand times, but here goes/ Shares from my previous employer to the value of 5k (Tesco) Credit cards, all on lengthy 0% to debt of 4K. Do I sell shares to pay the debt, or do I chip away at the credit cards, keep the shares and wait for the rise. I know you are not FSAs but thoughts would be appreciated.

experience08

rmc76 wrote: »

Sorry if this has been answered a thousand times, but here goes/ Shares from my previous employer to the value of 5k (Tesco) Credit cards, all on lengthy 0% to debt of 4K. Do I sell shares to pay the debt, or do I chip away at the credit cards, keep the shares and wait for the rise. I know you are not FSAs but thoughts would be appreciated.

If you are on lengthy 0%, what's the worry until this runs out? If you can't get another good 0% deal, sell the shares, first check if you are within your capital gains allowance for the year (5K will be OK), and pay the debt off. The cost of online shares sale will be £6.50 to £15. You can always go back into the market to buy these shares if you want to "wait for the rise". I doubt Tesco shares will rise that much as they trade in a narrow range, unless they become a bid target (highly unlikely).

rmc76_2

I think the prospect of not paying off regular debt from my income each month and 'staring agian' is too good to resist. I can always save the mony I would have spent servicing the debt