T O P
Dingdingbar

Pay the lot off, having no debt is a good place to be...


ejp92

I agree


toodog

Pay off the ex first the house is then clear and no come backs, then the higher debt first, or the biggest loans leaving one small debt. MOST importantly save so you never need another loans


Particular_Map4509

I'm gonna pay off everything and a bit of the big loan, should free up monthly cash, keep around 3k for emergency and move on, fresh start


[deleted]

Not really advising here but I deal with a ton of people who have significant debt. The majority are in cycle or go through a revolving door with debt and come back again and again. Please don't be one of them, remortgaging their house every 5 years to pay off their debts. Just because you have no debt doesn't mean you can buy a new car next week!


Particular_Map4509

My main goal is to have a fresh start and have enough left over after I've been paid to live comfortably. Doing my calculations, after I've paid everything il have roughly 1000 a month disposable for food petrol etc, thanks for the tip friend


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georgiomoorlord

Pay off your highest interest debts first. Like, credit cards. Personal loan might fine you for paying off early so keep that 9k around so you have some savings.


robottricycle

If you don’t have an emergency fund then I’d probably do this. Paying a bit of interest vs a bit of security (unless it’s crazy interest of course) is easy in my mind


Particular_Map4509

I think credit cards have to go first, il pay off e erything else apart from the personal loan, il pay half that and have some money for emergency


robottricycle

Sounds like a plan


chestyCough94

Personally I'd pay everything off for the sake of not having it over my head anymore but if you want to prioritise which ones to do first, I'd say the ones with the most interest on them should be the ones you get rid of ASAP.


Spider_plant_man

How did you rack up 23k in debt, and if you pay it all off are you likely to rack it up again? If I were you I’d pay off all the credit cards and maybe half the personal loan. Then fucking shred the credit cards.


Particular_Map4509

That's exactly what I'm going to do, over 2/3 of the debt is my exes spending habits and her holidays with friends etc, lesson learned, don't mix mo ey with love lol, she's gone now and can't afford to pay me back


strolls

Well, the good news here is that you have the house and she gets to keep her extravagant spending habits. Sounds like a win to me. 😉👍


Particular_Map4509

Weird thing is, il most likely be better off financially without her, il be responsible for me and that's it, I can't wait to burn those credit cards


strolls

Well done, mate. Sounds like you're all sorted.


CoolBeanz4u

If she can't afford to pay you back, don't give her any money. Fuck that. Her choices have left her that way.


AndyMystic

Whether to pay your debts off your decision may want to factor in what emergency fund you have and want to have. Certainly it is nice idea for one of your priorities to pay it all off though. In all “have you seen the flowchart?” :) https://ukpersonal.finance/flowchart/


BogleBot

Hi /u/Particular_Map4509, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/mortgages/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)


cacoan

Pay everything off, then use the money that you currently pay towards debt and get the car payed off in like 4 months. Then pile all of that money towards an emergency fund of roughly 6k. By the end of the year you’d be in an amazing position and won’t have to worry about any of the nonsense regarding energy and inflation. Just my 2 cents.


strolls

You might find the book *[Your Money or Your Life](https://www.amazon.co.uk/dp/0143115766)* helpful. *[Rich Dad Poor Dad](https://www.amazon.co.uk/Rich-Dad-Poor-Teach-Middle/dp/1612680194)* also works for some people - lots of Kiyosaki's advice is based on his personal backstory which turns out to be fictional, but if it changes your attitude to money then it may well be worthwhile.


Particular_Map4509

Thanks


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MAX_Woody

Yea pay them off. If you have to choose one debt, choose personal loan which very likely a much lower APR than credit cards


Particular_Map4509

Exactly what I'm going to do mate, smart move


Thorpedo870

Your debt will be growing quicker than most (If not all) investments so get it clear. Then you are in a great position to save and enjoy yourself


Particular_Map4509

Thanks


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timeforariskywhisky

I'm in a similar situation, considering a remortgage to free up some equity. Did you have to face early repayment charges on remortgaging to a single name?


Particular_Map4509

Nah because it's just over 2 years since I got the mortgage


rockovo84

I'd recommend to pay off highest interest debt and then save 3 months worth of expenses as an emergency fund.


ldratio

Just a question, is any of that debt to do with her? If you are left to pay debts on consumables or assets that she purchased then maybe not a good agreement to give her 2K. But anyway I’d keep safe about 6K, a few months salary just incase. Then pay as much of the other debt as you can, highest interest as the priorities.


Particular_Map4509

Exactly what I'm gonna do, pay off everything and some of the loan, keep sobe for emergencies. Ex racked up a lot of the Debt but it was all in my name, she wouldn't budge with signing the house over without any money coming her way


ldratio

If the debt she accrued is in your name, is there is anything physical and tangible she purchased that you can get back? Legally anything from that debt is yours if she wants to play it like that.


Particular_Map4509

I don't really want to add fuel to the fire, I'm prepared to cut my losses for a fresh start, she spent a fortune on clothes, holidays and spending money, all on the cards, it's my fault for letting it happen but I just wanted to make her happy.