€15,000 Credit Card Debt As a result of unemployment and very poor financial planning

[Welfarite]

Going to MABS is how to begin to handle the actual existing debt problem, irishpancake!! They will advise much better than any of us here, IMHO, judging by some of the opinions posted!

 

[irishpancake]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

Going to MABS is how to begin to handle the actual existing debt problem, irishpancake!! They will advise much better than any of us here, IMHO, judging by some of the opinions posted!

You are correct, which is why I have advocated the MABS from my very first post on this topic, providing links to their website and giving details of their Path for dealing with Debt.

 

[HotdogsFolks]

I don't mean to sound like a silly boy, but there are tons of jobs out there at the moment (I work somewhat in the recruitment industry.)

Would you consider taking an ordinary job to tied you over? Call centres, etc are always hiring.

You'll defo feel better about your situation knowing you have money coming in.

 

[KalEl]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial planning

As I've said before, you should go and speak to these MABS people.
Don't be afraid to go with what you feel is right however. If possible, try for the 0% balance transfer to get some breathing space and then pay the money back on a far cheaper term loan. If you can do this it's your best option.
I'm sure MABS do good work but personally I have a problem with advice like "If a creditor persists in refusing the offer you have made they can do nothing to get their money back without going to court"
I admire you Minidriver...you want to face up to the situation and get back on track. This MABS option will help, but does seem to be head in the sand stuff for people who can't/won't pay their creditors.

 

[ClubMan]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

This MABS option will help, but does seem to be head in the sand stuff for people who can't/won't pay their creditors.

I don't really understand what you mean by this. Maybe you can explain?

 

[KalEl]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

I don't really understand what you mean by this. Maybe you can explain?

I mean the OP is looking at to tackle this cc debt by converting it into a more manageable and far cheaper term loan. If possible, this is obviously a wise course of action.
I've gone through this MABS website and while I'm sure the (voluntary) work they do is very helpful, it seems quite confrontational and potentially damaging to someone's credit rating.

 

[jake108]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

minidriver I don't know if you'll get a credit limit high enough to get 0% balance transfer. If you feel that clearing off this card with a lower rate loan is the right thing to do then go for it. I've been in a bad situation too and all I can say is try to figure out what works for you. One piece of advice though, destroy the card.

irishpancake, see my earlier quote. Far from encouraging op to get further into debt.

 

[ClubMan]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

I've gone through this MABS website and while I'm sure the (voluntary) work they do is very helpful, it seems quite confrontational and potentially damaging to someone's credit rating.

Like what specifically?

 

[KalEl]

Re: €15,000 Credit Card Debt As a result of unemployment and very poor financial plan

Like what specifically?

The section I quoted about courts for example.
It looks to me that MABS is a fantastic resource for people who have found themselves in dire financial trouble and literally have no idea what to do. All I was saying is the OP has their head screwed on and has a plan of sorts which has to be better than jeopardising credit ratings by telling the cc company payment is a problem. If that's the only option, then so be it