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JTP - Apologise to Monica ♦
JTP - Apologise to Monica ♦
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It seems like the two statements "I have a high paying job" and "we are drowning in debt" are in conflict with each other. You may want to see a debt councilor that can help you organize your budget, develop a pay back strategy, and potentially consolidate your loan into a single lower interest loan. Caution though: there are some pretty shady people out there so you want to make sure you got a reputable one with good credentials. See the article http://www.consumer.ftc.gov/articles/0153-choosing-credit-counselorChoosing a Credit Counselor

To answer the direct question: it is always responsible to pay back your loans. You took other people's money with the promise to pay it back and you should keep this promise within the terms of the originating agreement. You can and should certainly try to optimize the payback within these terms though. That's were an expert can help. You want to pay off high interest debts first and work your way down. Perhaps you an take out a second mortgage on the house use the money to pay off the student loans and credit cards and then pay off the mortgage at a much lower interest rate.

It seems like the two statements "I have a high paying job" and "we are drowning in debt" are in conflict with each other. You may want to see a debt councilor that can help you organize your budget, develop a pay back strategy, and potentially consolidate your loan into a single lower interest loan. Caution though: there are some pretty shady people out there so you want to make sure you got a reputable one with good credentials. See http://www.consumer.ftc.gov/articles/0153-choosing-credit-counselor

To answer the direct question: it is always responsible to pay back your loans. You took other people's money with the promise to pay it back and you should keep this promise within the terms of the originating agreement. You can and should certainly try to optimize the payback within these terms though. That's were an expert can help. You want to pay off high interest debts first and work your way down. Perhaps you an take out a second mortgage on the house use the money to pay off the student loans and credit cards and then pay off the mortgage at a much lower interest rate.

It seems like the two statements "I have a high paying job" and "we are drowning in debt" are in conflict with each other. You may want to see a debt councilor that can help you organize your budget, develop a pay back strategy, and potentially consolidate your loan into a single lower interest loan. Caution though: there are some pretty shady people out there so you want to make sure you got a reputable one with good credentials. See the article Choosing a Credit Counselor

To answer the direct question: it is always responsible to pay back your loans. You took other people's money with the promise to pay it back and you should keep this promise within the terms of the originating agreement. You can and should certainly try to optimize the payback within these terms though. That's were an expert can help. You want to pay off high interest debts first and work your way down. Perhaps you an take out a second mortgage on the house use the money to pay off the student loans and credit cards and then pay off the mortgage at a much lower interest rate.

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Hilmar
Hilmar
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It seems like the two statements "I have a high paying job" and "we are drowning in debt" are in conflict with each other. You may want to see a debt councilor that can help you organize your budget, develop a pay back strategy, and potentially consolidate your loan into a single lower interest loan. Caution though: there are some pretty shady people out there so you want to make sure you got a reputable one with good credentials. See http://www.consumer.ftc.gov/articles/0153-choosing-credit-counselor

To answer the direct question: it is always responsible to pay back your loans. You took other people's money with the promise to pay it back and you should keep this promise within the terms of the originating agreement. You can and should certainly try to optimize the payback within these terms though. That's were an expert can help. You want to pay off high interest debts first and work your way down. Perhaps you an take out a second mortgage on the house use the money to pay off the student loans and credit cards and then pay off the mortgage at a much lower interest rate.