Hi everyone
Just a quick question i'd love some advice on.
Back in September, my OH's sister got into some difficulty with her rent payments and went into arrears (council house). She received numerous letters from the council about the arrears and told no one until she was summonsed to court. Eventually she came clean to me about it, but the only way she was going to be allowed stay in the house was to pay some of the arrears and she was scared stiff as she has a few children and also because a couple of neighbours had been evicted from their house a few months earlier for the same reason.
Anyway, to cut a long story short, we ended up giving her €4,000 towards clearing the debt. Because we didn't have much time (4 days before court date we found out), my partner couldn't find any other reasonable way to come up with the money apart from taking it out on his credit card as we've no savings left as of last summer when we cleared every loan we had with them.
So now the problem is the €50 per week payback has not been forthcoming, and my partner is currently paying almost €200 per month interest alone for the priviledge of helping her out. I cannot see her repaying it anytime soon (if flippin ever!) so what are our best options? Because the interest is so much, we seem to be paying it but not able to get near the prinicipal amount itself.
Any advice would be great as we cannot keep paying €200 a month interest for the privilege of giving this woman a loan!!
Thanks
Just a quick question i'd love some advice on.
Back in September, my OH's sister got into some difficulty with her rent payments and went into arrears (council house). She received numerous letters from the council about the arrears and told no one until she was summonsed to court. Eventually she came clean to me about it, but the only way she was going to be allowed stay in the house was to pay some of the arrears and she was scared stiff as she has a few children and also because a couple of neighbours had been evicted from their house a few months earlier for the same reason.
Anyway, to cut a long story short, we ended up giving her €4,000 towards clearing the debt. Because we didn't have much time (4 days before court date we found out), my partner couldn't find any other reasonable way to come up with the money apart from taking it out on his credit card as we've no savings left as of last summer when we cleared every loan we had with them.
So now the problem is the €50 per week payback has not been forthcoming, and my partner is currently paying almost €200 per month interest alone for the priviledge of helping her out. I cannot see her repaying it anytime soon (if flippin ever!) so what are our best options? Because the interest is so much, we seem to be paying it but not able to get near the prinicipal amount itself.
Any advice would be great as we cannot keep paying €200 a month interest for the privilege of giving this woman a loan!!
Thanks