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
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