Age: 45
Spouse’s/Partner's age: 42
Annual gross income from employment or profession:
Annual gross income of spouse:
Monthly take-home pay Me 1300
Spouse 2500
Type of employment: e.g. Civil Servant, self-employed
part time ,full time
In general are you:
(a) spending more than you earn, or This I would say!
(b) saving?
Rough estimate of value of home Renting 1100 pcm
Amount outstanding on your mortgage:
What interest rate are you paying?
Other borrowings – car loans/personal loans etc
Aib CC 10800
Mbna 14400
Aib 1000 45 per month repayment
Car Loan 650 (2 months to go)
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
Savings and investments:No
Do you have a pension scheme?No
Do you own any investment or other property?No
Ages of children: 9,12
Life insurance: No
What specific question do you have or what issues are of concern to you?
As you can see,we have a huge CC debt pile,mostly brought on by 5 years of loss of income (approx 550 a week)
I am just using the two credit cards now as interest only loans ie I pay the minimum balance and then spend back up to the credit limit on day to day spending etc
My outgoings are:
Rent 1100
ESB,Gas 165
Cable BB 80
Phones 80
Petrol 370 (I drive in my p/t job,and take kids to school etc.Wife works 25 miles away)
Food 600
CC interest (as explained above) 320
Tolls 50
Clothing School stuff 100
Car Tax x2 900 /year 75
Insurance x2 700/year 58
Maintenance/tyres 70 (cars getting old now 7 yrs/9 yrs)
Tv license 13
Aib T/L 45
Car Loan 323
These are the main expenses,but something extra seems to crop up on a weekly basis.
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) .I am thinking of asking the two cc providers if I could get a very long term loan at a reasonable interest rate to pay of the credit cards.Is this possible?Neither credit card has every had a payment missed to date.
My other options would be DRN if I can get my borrowings down below 20k,or some form of bankruptcy .
Any views ,ideas ,suggestions gratefully received.
Spouse’s/Partner's age: 42
Annual gross income from employment or profession:
Annual gross income of spouse:
Monthly take-home pay Me 1300
Spouse 2500
Type of employment: e.g. Civil Servant, self-employed
part time ,full time
In general are you:
(a) spending more than you earn, or This I would say!
(b) saving?
Rough estimate of value of home Renting 1100 pcm
Amount outstanding on your mortgage:
What interest rate are you paying?
Other borrowings – car loans/personal loans etc
Aib CC 10800
Mbna 14400
Aib 1000 45 per month repayment
Car Loan 650 (2 months to go)
Do you pay off your full credit card balance each month?
If not, what is the balance on your credit card?
Savings and investments:No
Do you have a pension scheme?No
Do you own any investment or other property?No
Ages of children: 9,12
Life insurance: No
What specific question do you have or what issues are of concern to you?
As you can see,we have a huge CC debt pile,mostly brought on by 5 years of loss of income (approx 550 a week)
I am just using the two credit cards now as interest only loans ie I pay the minimum balance and then spend back up to the credit limit on day to day spending etc
My outgoings are:
Rent 1100
ESB,Gas 165
Cable BB 80
Phones 80
Petrol 370 (I drive in my p/t job,and take kids to school etc.Wife works 25 miles away)
Food 600
CC interest (as explained above) 320
Tolls 50
Clothing School stuff 100
Car Tax x2 900 /year 75
Insurance x2 700/year 58
Maintenance/tyres 70 (cars getting old now 7 yrs/9 yrs)
Tv license 13
Aib T/L 45
Car Loan 323
These are the main expenses,but something extra seems to crop up on a weekly basis.
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) .I am thinking of asking the two cc providers if I could get a very long term loan at a reasonable interest rate to pay of the credit cards.Is this possible?Neither credit card has every had a payment missed to date.
My other options would be DRN if I can get my borrowings down below 20k,or some form of bankruptcy .
Any views ,ideas ,suggestions gratefully received.