Hi All
I am looking for advise as is everyone here on trying to deal with my money worries. I am a single parent , dreading another cold winters with no heaing not to mention christmas and all the cost that entails. I am in a serious need of a money makeover as it is got to the point now where there isnt any access to cash in our house hold. All my earning are comsumed by my heavy debt burden.
I know I am an adult and must take responsbility for this and suck it up so to speak but it would be nice if anyone can offer me any constructive advise as to what option are available.
I have tried in the past to tackle this dedt by reducing my credit union loan from 100 per week to now 50 per week. I have also had reduced mortgage payment in the pass which I have just reverted back to orginal payments and I feel its just keeps coming to bit me in the ass this was on advise from MABS last year but here I am again in the same situation. I would like to try and restructure all this now once and for all so I can live or a least have heat and food basic needs. I will try my best to document my current situation as it stands
Age: 30
Status: Single Parent
Annual gross income from employment or profession:36,000 (approx)
Monthly take-home pay: 2300
Type of employment: Instructor
In general I am :spending more than you earn
Rough estimate of value of home: 160,000
Amount outstanding on your mortgage: 178,000
What interest rate are you paying?
Tracker Mortagage - will have to update on exact rate later as I dont have to hand
Other borrowings outstanding :
Overdraft 500 limit : Currently stand at 1258 unauthorised
Car Finance : 4200 ( 1 & 2 months remaining @ 280 per month)
Personal Bank loan: 2543 ( 33.85 per week)
Credit Union:15,000 remaining approx ( 50,00 per week). this was a loan taken out to fit the house orginally at the hight of the boom as it wa a run down house I bought.
Credit Card balance:610
Borrowing from Parents: 2,000 for day to day living expense ( 20.00 per week)
Do you pay off your full credit card balance each month: No
If not, what is the balance on your credit card: 610
Savings and investments:None
Do you have a pension scheme: Yes
Do you own any investment or other property: No
Ages of children: 1
Life insurance: Yes ( 17.85 per month)
What specific question do you have or what issues are of concern to you?
Looking at how best I can service / resturcture this debt.
Car finance and personal loan is with AIB
Looking for to reading replies with gratitude.
I am looking for advise as is everyone here on trying to deal with my money worries. I am a single parent , dreading another cold winters with no heaing not to mention christmas and all the cost that entails. I am in a serious need of a money makeover as it is got to the point now where there isnt any access to cash in our house hold. All my earning are comsumed by my heavy debt burden.
I know I am an adult and must take responsbility for this and suck it up so to speak but it would be nice if anyone can offer me any constructive advise as to what option are available.
I have tried in the past to tackle this dedt by reducing my credit union loan from 100 per week to now 50 per week. I have also had reduced mortgage payment in the pass which I have just reverted back to orginal payments and I feel its just keeps coming to bit me in the ass this was on advise from MABS last year but here I am again in the same situation. I would like to try and restructure all this now once and for all so I can live or a least have heat and food basic needs. I will try my best to document my current situation as it stands
Age: 30
Status: Single Parent
Annual gross income from employment or profession:36,000 (approx)
Monthly take-home pay: 2300
Type of employment: Instructor
In general I am :spending more than you earn
Rough estimate of value of home: 160,000
Amount outstanding on your mortgage: 178,000
What interest rate are you paying?
Tracker Mortagage - will have to update on exact rate later as I dont have to hand
Other borrowings outstanding :
Overdraft 500 limit : Currently stand at 1258 unauthorised
Car Finance : 4200 ( 1 & 2 months remaining @ 280 per month)
Personal Bank loan: 2543 ( 33.85 per week)
Credit Union:15,000 remaining approx ( 50,00 per week). this was a loan taken out to fit the house orginally at the hight of the boom as it wa a run down house I bought.
Credit Card balance:610
Borrowing from Parents: 2,000 for day to day living expense ( 20.00 per week)
Do you pay off your full credit card balance each month: No
If not, what is the balance on your credit card: 610
Savings and investments:None
Do you have a pension scheme: Yes
Do you own any investment or other property: No
Ages of children: 1
Life insurance: Yes ( 17.85 per month)
What specific question do you have or what issues are of concern to you?
Looking at how best I can service / resturcture this debt.
Car finance and personal loan is with AIB
Looking for to reading replies with gratitude.