O
Outofmydepth
Guest
Age: 31
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €42000
Annual gross income of spouse: N/A
Type of employment: Private Sector - Life Assurance
In general are you:
(a) spending more than you earn, or - Yes
(b) saving? - Not saving a penny right now (no savings apart from shares)
Rough estimate of value of home €160,000
Amount outstanding on your mortgage: €238,000
What interest rate are you paying? 5.25% - fixed rate for another 5 years.
Other borrowings – car loans/personal loans etc
Credit card - €5000 (maxed out & card cut up) - MBNA
Personal loans (4) -
€8500 - repayment is €395 per month - due to end May 2012 - Halifax
€5000 - repayment is €160 per month - due to end April 2013 - Rabo Direct
€7000 - repayment is €290 per month - due to end Dec 2012 - Car finance through Opel - With PTSB
€10000 - repayment is €245 per month - due to end Dec 2014 - BOI
______
€30,500 - total repayment is €1,090
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €5000
Savings and investments: Shares that are now worthless at the moment, so I'm leaving them for now until the share price eventually recovers. I had planned on cashing them to pay for the car, but share prices crashed and I took a car loan instead.
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: Mortgage protection only
I'm hoping that I'll be able to get a debt consolidation loan, but I'm not sure how willing a bank would be to take on the restructuring of external debt? Has anyone had experience of this? My outgoings on loans are what is crippling me - If I could shave off a few hundred from it, I'd be in a much better place.
I'm trying to set up a part time job as a makeup artist (already qualified) and I've also qualified to do spray tans, but really the market isn't there any more for spray tans. The makeup business will be slow to take off, but I'm going to stick with it. I am only advertising on free websites for now, as I can't afford to advertise properly. My tenant moved out recently, and despite having ads up for the room, I'm not getting any response at the moment.
I've made terrible decisions over the last few years by taking out loans and maxing my credit card. I'm here to take responsibility for this and start to get myself out of this mess.
Any advice would be very much appreciated.
Spouse’s/Partner's age: N/A
Annual gross income from employment or profession: €42000
Annual gross income of spouse: N/A
Type of employment: Private Sector - Life Assurance
In general are you:
(a) spending more than you earn, or - Yes
(b) saving? - Not saving a penny right now (no savings apart from shares)
Rough estimate of value of home €160,000
Amount outstanding on your mortgage: €238,000
What interest rate are you paying? 5.25% - fixed rate for another 5 years.
Other borrowings – car loans/personal loans etc
Credit card - €5000 (maxed out & card cut up) - MBNA
Personal loans (4) -
€8500 - repayment is €395 per month - due to end May 2012 - Halifax
€5000 - repayment is €160 per month - due to end April 2013 - Rabo Direct
€7000 - repayment is €290 per month - due to end Dec 2012 - Car finance through Opel - With PTSB
€10000 - repayment is €245 per month - due to end Dec 2014 - BOI
______
€30,500 - total repayment is €1,090
Do you pay off your full credit card balance each month? No
If not, what is the balance on your credit card? €5000
Savings and investments: Shares that are now worthless at the moment, so I'm leaving them for now until the share price eventually recovers. I had planned on cashing them to pay for the car, but share prices crashed and I took a car loan instead.
Do you have a pension scheme? Yes
Do you own any investment or other property? No
Ages of children: N/A
Life insurance: Mortgage protection only
I'm hoping that I'll be able to get a debt consolidation loan, but I'm not sure how willing a bank would be to take on the restructuring of external debt? Has anyone had experience of this? My outgoings on loans are what is crippling me - If I could shave off a few hundred from it, I'd be in a much better place.
I'm trying to set up a part time job as a makeup artist (already qualified) and I've also qualified to do spray tans, but really the market isn't there any more for spray tans. The makeup business will be slow to take off, but I'm going to stick with it. I am only advertising on free websites for now, as I can't afford to advertise properly. My tenant moved out recently, and despite having ads up for the room, I'm not getting any response at the moment.
I've made terrible decisions over the last few years by taking out loans and maxing my credit card. I'm here to take responsibility for this and start to get myself out of this mess.
Any advice would be very much appreciated.
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