Age: 45
Spouse’s/Partner's age: 42
Monthly take-home pay Me 1300
Spouse 2500
Child allowance 260
Renting 1100 pcm
Other borrowings – car loans/personal loans etc
Aib CC 10800
Mbna 14400 repayments on both 630 (of which interest is 320)
Aib 1000 45 per month repayment
Car Loan 650 (2 months to go) repayment 323
My outgoings are:
Rent 1100, ESB,Gas 165, Cable BB 80, Phones 80, Petrol 370, Food 600, Tolls 50, Clothing School 100, Car Tax 75, Insurance 58
Maintenance/tyres 70, Tv license 13,
CC interest & capital 630 Aib T/L 45, Car Loan 323
Now,my main problem is that I am almost at the stage where I cant make the minimum payment on the credit cards(about 320/330 each) ..
Interest rates are approx:
Aib t/l 14%
Aib cc 20%
Mbna cc 14%
Car loan 10%
One car is paid for,and the other was bought 2 years old in 2007 with a 5 year t/l.
Also when you get below K20 you can ( if need be) go for insolvency.
Thanks for the input ,guys.I would be thinking along the same lines as Bronte,as I have the quaint idea that you should pay your debts!Why would they need to fo for insolvency at all. If they negotiate a plan with the CC company they will be able to service their debts?
Thanks for the input ,guys.I would be thinking along the same lines as Bronte,as I have the quaint idea that you should pay your debts!
Anyway,I'll report back periodically with any progress made.Hopefully,it might encourage other readers to try and tackle their cc debts.
Anyway,I'll report back periodically with any progress made.Hopefully,it might encourage other readers to try and tackle their cc debts.
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