Financial dilemma. What do Bluemoon think?

[Davs 19]

Pay back the parents. It's the only option if they have any sort of moral compass.

 

[117 M34]

Pay the 4 of debt. Give the other 6 to parents.
Then as they have no debt, they could afford to pay more per month to parents so they get their money back sooner and the couple get debt free quicker

 

[BlueMo']

Pay the 4 of debt. Give the other 6 to parents.
Then as they have no debt, they could afford to pay more per month to parents so they get their money back sooner and the couple get debt free quicker

Just what i thought.

 

[Kirkstall Blue]

Pay off the biggest debt 10k to the parents then they can look after their health, presumably if she's not good with money she'd only run up more debt if the 4k was paid off

 

[adrianr]

Pay down the most expensive debt first, which I imagine is her personal debt, then give the rest to the parents.

My thoughts were to just give the 10k back, considering the lad's parents are struggling due to unforeseen circumstances.

Your idea was my '2nd choice' when I discussed it with him.

Anyone else chime in?

The only reason I'd say personal first despite the situation of the parents, is that unless the parents themselves have expensive debts, it would be better for her to not be pissing away anything in interest. The 6k would still be a huge help to the parents, but given that she would be debt free I assume she would be in a better place to help them further, either by paying them back quicker or lending them some fresh interest free money.

You just want to end up with everyone paying the least interest, because all that is is lost money.

 

[DenisLawBackHeel74]

Pay off the 4k, pay the parents £200 a month as agreed. Put the £6k in an ISA.

 

[tiggsywiggsywoo]

Tenerife is nice at this time of year.

 

[bgblue]

Pay off the 4k debt, give the parents 6k. And 20 x £200 in repayments. Win-win

 

[denislawsbackheel]

Pay back the parents

 

[Bill Walker]

Pay the 4k debt off, give the 6k to the parents and pay off the other 4k in instalments as agreed

This ^