Sell Collection to Pay Debt?

[Mac Attack]

Question -

Would you sell your firearms collection to pay off your credit card debt?


Just like everyone else, I have credit debt that I have grown tired of paying. I am considering selling off most of my collection to pay off part of my debt. The thing is that some of these pieces are rare if not impossible to find and the chances of me owning similar models again are slim to none.



I had hoped to pass my collection to my kids but my two oldest are not interest (thanks to their mother )and our youngest is still in diapers. Sure they may be interested later but I am keeping some of my collection and that would give me time to build it back up again. However, relief from paying minimum payments would be nice.



What are your thoughts? Should I sell them and be virtually debt free or hold onto them as a financial backup just incase something happens down the road I.e. Job loss, better economy to sell at better prices..etc?



I'm just torn.

[berto]

Do something else to raise funds. Second job? Cut spending?

[hawk81]

No, tell Obama you need the government to bail you out.

[Ishoot]

Tough decision to make. Just try and achieve some sort of balance between debt and guns. Sell off ones you could live without and keep some for yourself.

[Mac Attack]

Oh, I am keeping some for me !

The thing is I don't shoot them at all because I have my favorites to shoot.

It's not really the need to cut back on my spending, it's just I have stuff sitting that I don't use and the thought of being close to debt free is very appealing. Plus it would make my anti gun wife very happy and I might get some extra nookie.

[Saigon1965]

Depends how much you owe - CC companies will work with you on paying it down -

[paintballergb]

Do whatever is best for yourself.

[JoeC]

Sell the ones that you could do without, pay off the debt, save up and buy more guns again.

Just to add, I suggest keeping any rare ones. Chances are you'll never see them again if you sell them.

[Erik S. Klein]

I agree with JoeC - sell the ones you don't use and pay down your debt ASAP.

Once the monkey is off your back you can buy more toys that you won't just lock up somewhere. . .

[rkt88edmo]

If the debt is high enough that it would take a significant protion of your collection to pay it off, I say yes, sell.

Look at how much you are paying in interest each month. I carried some CC debt for about two years and found it soul sucking. I'd pay it off and be glad you have the means to do so, even if it means letting go of some pieces you may not be able to reacquire.

[djslik408]

Well maybe sell some but not all just to make a dent on your debt!

[B Strong]

In today's economy, it would probably be the best thing to do.

Carrying CC debt right now is a heavy burden, and you're at the mercy of the bank - if you can pay off or significantly lessen your debt, start moving on selling.

[Irv]

I vote yes. Sell to get out from under that stress. Just keep 2 out of your collection that are the most reliable for home protection. Good Luck.

[Jonathan Doe]

I'd sell some that I don't shoot much. When I get a chance later, I will buy what I miss.

[ChuckBooty]

If it's that bad then yes, sell. You'll feel SOOOO much better when that weight is off your shoulders. And don't sell some guns and make a dent in the debt either. I think if you do that you'll be miserable both ways - Still having debt and not having guns.

If you're gonna do it, do it. Keep one for home protection, a shotgun or hand gun, whichever camp you are in, and sell the rest. Look at is as an opportunity...you'll get to slowly rebuild your collection once your financially in a position to do so.