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Welcome to Saving Advice Forum. I hope you'll take your time and consider how to make the best use possible of your major inheritance. Adding to the information already offered...It is important to look at your FICO score and have the highest possible number as that is important to facilitate the best possible mortgage rate or future borrowing rate.
You might use one of the many debt repayment calculator programs to help you work out the best for your circumstances like
http://www.vertex42.com/Calculators/...alculator.html to work out how to get the best value from any pay-out. Paying off the highest interest rates offers the biggest savings. 17% CC debt is very expensive since savings accounts offer 1% interest. I add my voice to others that 'closing' a paid off CC lowers your credit utilization ratio which in turn lowers your FICO score.
I wonder if you and DW would be willing to work out an agreeable budget/cash flow system so that you two are in control of the money instead of SLs, car loans, CC and debt controlling decisions.
You might use one of the many debt repayment calculator programs to help you work out the best for your circumstances like
http://www.vertex42.com/Calculators/...alculator.html to work out how to get the best value from any pay-out. Paying off the highest interest rates offers the biggest savings. 17% CC debt is very expensive since savings accounts offer 1% interest. I add my voice to others that 'closing' a paid off CC lowers your credit utilization ratio which in turn lowers your FICO score.
I wonder if you and DW would be willing to work out an agreeable budget/cash flow system so that you two are in control of the money instead of SLs, car loans, CC and debt controlling decisions.
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