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Crazy question for all those out there dealing with finances and divorce. I'll be getting $7500 from my ex as payment for buying all the photography equipment.
I have 2 options.
1: pay off every credit card and personal loan
2: knock down that $15,000 home equity loan where all the business debt came from in the first place.
Now home equity is at lower interest than my credit cards and the min payment to all the cards = the total amount I pay to the equity line.
since for some reason my situation is so 50/50, should I kill off the equity line so the house can sell better or kill off the credit cards and simplify the outgoing finances, not to mention not get raped by the interest rates.
It would be nice only having 2 debt payments in the entire month to worry about instead of having 1-2 cards mailed out every week.
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What to do with my settlement?
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