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loan dilema

bloominggreat
bloominggreat Posts: 1 Newbie
in Loans
Hi,
I could really do with some advice...

I would really like to pay off my debts (£7000) but am not sure whether to get a loan and pay it off monthly (I can't afford more that £250 a month) or should I use money I have in stocks and shares? I have made very little interest so I would be using money I had originally invested for my future. Some people are telling me not to touch it and go for a loan!
What would you do?

Thanks in advance

Comments

  • bengalknights
    bengalknights Posts: 5,022 Forumite
    Part of the Furniture 1,000 Posts
    Use your stocks and shares to pay debt down as it will hardly be making any money at the moment.Where as your debt will gain interest unless its a loan.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Mortgage-free Glee!
    stocks and shares are a long term investment(unless you manage a quick killing)and on average they are rising in value atm.
    a personal loan on the best rates for £7000 over 5 years would cost around £140 per month
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