S
SMcD
Guest
Hi,
Same old story as a million others, I'm afraid!
For a couple of reasons my spending the last 2/3 months has had to be way above the norm, thankfully that spell is over and I'm back to normal - ie living as frugally as possible!
But I ended up with a seriously ugly Credit Card bill so had to take out a loan to partly sort it out.
The (rough) figures:
I'm a year in to a mortgage with the Ulster Bank (E259,000), paying E1,200 a month
I have two BOI loans - the first amounts to E377 a month (with three years left), the second is E366 (with two years to go).
So the above amounts to just under E2000 a month.
I earn at least E3000 a month after tax (it varies, but it's often E3500ish), so I can cope with the above. The rest of my monthly expenses are okay, I don’t have a car, my mobile phone bill is paid by work, I’ve cut out the socialising (for now!) and food/gas/ESB etc aren’t too bad. I’m not saying I’m left with anything at the end of the month, just that I can cover what I owe on the above!
But! I owe E12,000 on my credit card, E8,500 of it due in a fortnight. Not pretty!
For the first damn time ever I was late clearing the last credit card bill (just under E6,000) but, with the help of the loan, managed it a fortnight late. But there is no way I’ll be able to clear that E8,500 on time, at best I’ll manage E2,000 of it.
I’m really clueless when it comes to dealing with this kind of thing, before buying my house I was never in debt, so it’s a whole new miserable experience!
Can anyone give me some advice on how best to deal with this? I think/hope my earnings are enough to ensure that I can have it all sorted in a few months, if I’m sensible (!?), but the looming CC bill has me terrified.
What should I do?
Any advice would be received with hugs and kisses!
Thanks,
S
Same old story as a million others, I'm afraid!
For a couple of reasons my spending the last 2/3 months has had to be way above the norm, thankfully that spell is over and I'm back to normal - ie living as frugally as possible!
But I ended up with a seriously ugly Credit Card bill so had to take out a loan to partly sort it out.
The (rough) figures:
I'm a year in to a mortgage with the Ulster Bank (E259,000), paying E1,200 a month
I have two BOI loans - the first amounts to E377 a month (with three years left), the second is E366 (with two years to go).
So the above amounts to just under E2000 a month.
I earn at least E3000 a month after tax (it varies, but it's often E3500ish), so I can cope with the above. The rest of my monthly expenses are okay, I don’t have a car, my mobile phone bill is paid by work, I’ve cut out the socialising (for now!) and food/gas/ESB etc aren’t too bad. I’m not saying I’m left with anything at the end of the month, just that I can cover what I owe on the above!
But! I owe E12,000 on my credit card, E8,500 of it due in a fortnight. Not pretty!
For the first damn time ever I was late clearing the last credit card bill (just under E6,000) but, with the help of the loan, managed it a fortnight late. But there is no way I’ll be able to clear that E8,500 on time, at best I’ll manage E2,000 of it.
I’m really clueless when it comes to dealing with this kind of thing, before buying my house I was never in debt, so it’s a whole new miserable experience!
Can anyone give me some advice on how best to deal with this? I think/hope my earnings are enough to ensure that I can have it all sorted in a few months, if I’m sensible (!?), but the looming CC bill has me terrified.
What should I do?
Any advice would be received with hugs and kisses!
Thanks,
S