In Debt with USA trust Fund

indebt

I am in debt in the UK, but have recently come into a small inheretence (in a USA Trustfund) that would clear my debts. The problem is is that the company will only issue a cheque or bank transfer in dollars. Should I pay of all my debt, and how do I get a good exchange on my money? ??? If I did get a good exchange should I remove it all and pay into UK Account or leave what little is left alone?

Rafter

You should get a standard interbank exchange rate on the day you convert and then pay charges above that for the transfer.

Unlike bureau de change the banks do not charge a 'spread' on transactions like this usually (ie a buy and sell rate).

As for your other questions, do you really want dollar demominated investments? All depends on whether you think the dollar is undervalued or over valued, relative interest rates and returns etc.

Given the growing worries about the US economy I'd convert it ASAP, but that is a personal opinion and I still have some US investments in my pension portfolio, which is a much longer term investment.

Good luck.

R.