I’m Thinking of Selling Our Jewelry to Pay Some Credit Card Debt. – Ed

I have more than $25K in credit card debt. I have $2K on they way from school payment reimbursements and $10K cash coming up in two lump sums of $5K each in January and April of 2011.

I am considering selling some of the jewelry my wife and I own (watches, gold, etc) but I know we will try to recover it once we are able to. Should we move forward with this plan? Logically it sounds the right thing to do to get out of debt but it feels wrong because of the emotional attachment as well as the money loss we will incur by replacing the items later on.

Ed

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