UPDATE! Halt retirement to pay off debt- more complicated now - Page 2

[MacroMama]

Originally Posted by ariahsmum 

Replying to my own post since no one else did, lol.  Pretty sad, eh?

I've now progressed to paying off the HELOC.  Reason being that if for some reason dh and I split, I'm thinking that the Educational Loan is *his*.  The HELOC is ours.  I don't really want to pay off something of his first.  I have no clue if it would pan out like this in reality.. that the school loan would clearly be his responsibility if we split, but I feel better about it anyway.  At the very least I wouldn't be left with a huge home equity balance.

Can you tell it's not so harmonious over here?  Sigh...

Sorry things aren't so harmonious over there. With that in mind, I agree with your decision.

Good luck with everything!

Hugs!
 

[rhiandmoi]

One thing you need to consider is which interest payments are tax deductible and which aren't, and pay off the non-deductible ones first. You don't want to increase your tax burden while you still have large debt payments. For that reason I would pay off the HELOC last if you have the type that is tax deductible.

[ariahsmum]

Both the interest paid on the HELOC and the SL are tax deductible, so I don't see any tax implications.

Since I have ongoing questions about debt I wonder if I should start posting in the Feb Get Out of Debt Thread.  I'm now graduating to wondering about an extra mortgage payment a year, etc.  I'm loving this forum and all it's helping me think about and get committed to.