Credit Card & Personal Debt


Registered User
Hi all,

I am trying to help someone sort out their personal finances.
They have the following debt:

mortgage balance €8,000 interest rate circa 1.3%. Repaying circa €200 a month.
Credit union loan €12,000 interest rate 9.85%.Repaying €430 a month.
Main problem is their credit card. Balance is €7,000. The had it transferred to An Post 0% but this is due to expire shortly and unfortunately have not been in a position to pay any of this off.
I presume paying off the credit card is the priority but they can’t afford to pay this and keep up the other loan repayments.

Any advice re how to tackle this or if should restructure the loans somehow would be greatly appreciated. Thanks


Registered User
Could they restructure the credit union loan and add in the 7k from the credit card. They could look to switch the 7k on the CC to another 0% transfer. What income do they have for ability to pay?


Registered User
You should get them to contact MABS to help resolve their debt issues. They are about to face significant charges on their credit card. It is difficult to give any sound advice without knowing the full picture such as income levels, dependents, etc. But proactively contacting MABS should help.