Hello PF friends. I have just finished my almost one year long divorce. I started with no debt other than Student Loans (19,000) and a mortgage. After two mediation’s we finally settled. We are both still pretty young and didn’t have much in the way of assets. However, we agreed to pay our own legal fees and I’m now looking at a lot of debt I didn’t account for. I made about 1/3 of his salary with my current job and I am actively looking for another with better pay. Here’s my current breakdown;
Income- 2,200/month Rent-1160/month Student Loans- 250/month Phone-30 Internet-40 Utilities-70 Car expenses (paid off)-150/gas per month Misc-100
Here’s the ugly part Credit card 1 -$7,100 no APR til 7/2018 Credit Card 2-$6600 no APR til 9/2018 Legal Fees Balance- $4,500
Most of the charges on the credit cards are lawyer fees ~$7,500.
We are putting the house on the market this month and fortunately it should sell rather quickly and for a good amount more than we paid. If we get a decent offer we should make about $40,000 after realtor fees and would split it 50/50.
I am also being gifted $5,000 from a parent and want to know where the best place to use it would be.
It makes me sick thinking that I could have paid of my student loans or bought a newer car with the money I spent on a lawyer but the way my ex was going about things worried me and I wanted someone with experience.
My main question is should I use that 5,000 to pay down the credit card with the upcoming APR and hope I can pay off the other with the profits from the house?
Submitted June 09, 2018 at 09:53AM by sweetpeasus https://ift.tt/2M9CTAh
