someadvice
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Age:27
Spouse’s/Partner's age: 27
Annual gross income from employment or profession: 30k
Annual gross income of spouse: 35k
Monthly take-home pay: me=2000, spouse=2000
Type of employment: Employed & self employed
In general are you:
(a) spending more than you earn
Rough estimate of value of home: 150000
Amount outstanding on your mortgage: 240000
What interest rate are you paying? 4%ish, tracker mortgage
Other borrowings – car loan for 3000
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2500
Savings and investments:
Do you have a pension scheme? no
Do you own any investment or other property? no
Ages of children: none
Life insurance: yes approx 30euro per month
What specific question do you have or what issues are of concern to you?
Hi All, basically I have been very worried lately and been juggling around my finances alot but now it seems to have come on top of me all of a sudden. I was forced to stop working for myself last year with a debt of approx 30,000. I was sole trader therefore could not just walk away. This was due to creditors not paying, building industry.
I have managed to pay approx 10,000 off this chunk over the past 8-10 months but now find myself under a bit of pressure from my ex-suppliers to pay the balance. The problem is that I physically do not have the money at the moment. Since becoming employed I have consistantly paid back at least 1000euro per month to my supplier usually slightly more. In this time I have managed to pay my mortgage off and all household bills on time. I still have the company trading and at evenings and weekends try to work in this so I can make more money to shrink this debt. I have been paying up front for any supplies therefore not running into any further debt. I havent been able to pay money off my credit card in over a year, the bill on this was for material for a job that I was unpaid for.
I have cut back on my general spending and lifestyle as much as I possibly could. My question is that I want to know should I approach a bank/credit union and try receive a loan to pay off this 20,000 debt or where do I need to go from here? My supplier has been very patient and I want to make sure that they are fully paid the amount. I feel that its my debt therefore my spouse should not suffer as a result.
Any advise would be great
Spouse’s/Partner's age: 27
Annual gross income from employment or profession: 30k
Annual gross income of spouse: 35k
Monthly take-home pay: me=2000, spouse=2000
Type of employment: Employed & self employed
In general are you:
(a) spending more than you earn
Rough estimate of value of home: 150000
Amount outstanding on your mortgage: 240000
What interest rate are you paying? 4%ish, tracker mortgage
Other borrowings – car loan for 3000
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? 2500
Savings and investments:
Do you have a pension scheme? no
Do you own any investment or other property? no
Ages of children: none
Life insurance: yes approx 30euro per month
What specific question do you have or what issues are of concern to you?
Hi All, basically I have been very worried lately and been juggling around my finances alot but now it seems to have come on top of me all of a sudden. I was forced to stop working for myself last year with a debt of approx 30,000. I was sole trader therefore could not just walk away. This was due to creditors not paying, building industry.
I have managed to pay approx 10,000 off this chunk over the past 8-10 months but now find myself under a bit of pressure from my ex-suppliers to pay the balance. The problem is that I physically do not have the money at the moment. Since becoming employed I have consistantly paid back at least 1000euro per month to my supplier usually slightly more. In this time I have managed to pay my mortgage off and all household bills on time. I still have the company trading and at evenings and weekends try to work in this so I can make more money to shrink this debt. I have been paying up front for any supplies therefore not running into any further debt. I havent been able to pay money off my credit card in over a year, the bill on this was for material for a job that I was unpaid for.
I have cut back on my general spending and lifestyle as much as I possibly could. My question is that I want to know should I approach a bank/credit union and try receive a loan to pay off this 20,000 debt or where do I need to go from here? My supplier has been very patient and I want to make sure that they are fully paid the amount. I feel that its my debt therefore my spouse should not suffer as a result.
Any advise would be great