Advice on my debt please

hamiltol

Hi all

In brief i have the following outstanding debt to date:

Halifax CC £7830 Years left ??????
Nationwide loan £4600 Years left 3.5
Lloyds car finance £1820 Years left 13 months

Mortgage
£109000 valued at £155,000 valued last month

We are currently renting out the above property and are in rented accommodation this was because of a work related job position.

we are covering all bills every month and have done a budget planner and are left with enough to feed and cloth our family.

We have been toying with the idea of selling our house paying of debts and start enjoying life a little more. We have been in rented accommodation for 4 yrs the only reason for this was because of a short temr contract, my situ has changed and I'm now full employed and my partner and are not gaining anything from renting our house out, does not even cover the monthly mortgage. Looking back on this we should of sold house when we moved but kept the house partly for sentimental reasons.

Now we want to move on. So do we sell, clear all above debts and whatever is left put down deposit on a new home, or do we carry on paying debts until they have all cleared.
Or is there any other options for us.

Many thanks
Laurie

sistafromanothermista

Do you mean you plan to sell anyway?

hamiltol

sistafromanothermista wrote: »

Do you mean you plan to sell anyway?

Well we are not gaining anything from the house at the moment, we have had our fair share of bad tenancies and have just spent our holiday fund repairing what the previous tenants had left us with.

Ok in the long run if everything goes to plan with tenants we will have the house paid off when we retire but the crazy thing is we wouldnt want to move back to the house.

sistafromanothermista

I would sell then and pay the debts off