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Pay debts or money off mortgage?
davethebass
Posts: 1 Newbie
I have recently inherited £5k and don't know what is best to do with the money. I currently have approx £5k in unsecured debts and also have a mortgage of £97k, my house is worth approx £90k so I'm in negative equity. Am I better off paying the £5k off the mortgage and continue paying the unsecured debts on a monthly basis, or should I pay of all the unsecured debt and pay more off the mortgage each month?
Any advice gratefully received!
Any advice gratefully received!
0
Comments
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I would pay off all the little debts and cancel all cards /overdrafts
thats just me though0 -
Pay off the debts with the highest interest first.The first thing to do when you find yourself in a hole is to stop digging.
Lad
Pronunciation: /læd/
Forms:ME–15 ladde, 15–17 Sc. lawd, 16 ladd, ME– lad.
Etymology:Middle English ladde, of obscure origin
c. A stable-groom of any age; also, a female one.0
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