Age: 37
Spouse’s/Partner's age: 38
Annual gross income from employment or profession:- 40k gross
Annual gross income of spouse: -self employed but very volitile approx 10k
Monthly take-home pay - €2896 net approx
(inc 260 childrens allowance
200 maintenance)
Type of employment: e.g. Civil Servant, self-employed
In general are you:
spending all we earn borrow from peter to pay paul during the month but saving 50 euro a week to cover maintenance on home and emergency car repairs bdays xmas etc (€420 in this account)
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home €120k
Amount outstanding on your mortgage: €265k
What interest rate are you paying? 2% (tracker)
Arears €2,500
Other borrowings – car loans/personal loans etc
Credit union loan 1 (joint names) - 21k outstanding €300 pm (resturctured 6 years left)
Credit union loan 2 (my name) - 6k outstanding €336 pm (not restructured as may need to access cash for daughters college until grant comes in (if approved)) This loan will be finished if I don't borrow from it in 16months time. Recently borrowed 5k to clear the majority of CC.
No other loans
Do you pay off your full credit card balance each month? no just minimum payment
If not, what is the balance on your credit card? 1130 (hoping to move to 0% interest CC soon)
Savings and investments:
as about 420 euro
Do you have a pension scheme?
Public sector pension
Do you own any investment or other property?
no
Ages of children:
17 and 4
Life insurance:
150 pm (loaded for insurance due to illness on my side, have shopped around but no one is cheaper)
monthly household exp
Mortgage - 864
Life ins - 150
food - 500/600 (inc food for 2 dogs)
diesel - 200
gas - 100
esb - 100
sky - 40
phone - 34
mobile - 20
home ins - 40
car ins - 30
13 - tv licence
300 - creche fees (finishing in june) but loosing 130 CA due to daughter finishing school.
200 - savings
26.50 - waste collection
20 - mobile phone
What specific question do you have or what issues are of concern to you?
I have submitted SFS forms for the last 18 months to our mortgage provider and had been granted int only for 12 months. We have been making full payments since last october but with OH's job we are living week to week. If the mort gets paid esb doesn't etc. We were told to stop paying off any unsecured debt and to pay the mortgage in full. I have explained that in 18 months time i will have an extra €450 pm that I will give to them on top of what we are trying to pay now and that should bring the arrears down too. I have also told them that I will have college fees in sept but they really don't care.
They just don't want to know. Im physically worn down from waking every morning and going to bed every night thinking about money.
If you were in my situation what would you do
Thank you for any advice you may have.
Spouse’s/Partner's age: 38
Annual gross income from employment or profession:- 40k gross
Annual gross income of spouse: -self employed but very volitile approx 10k
Monthly take-home pay - €2896 net approx
(inc 260 childrens allowance
200 maintenance)
Type of employment: e.g. Civil Servant, self-employed
In general are you:
spending all we earn borrow from peter to pay paul during the month but saving 50 euro a week to cover maintenance on home and emergency car repairs bdays xmas etc (€420 in this account)
(a) spending more than you earn, or
(b) saving?
Rough estimate of value of home €120k
Amount outstanding on your mortgage: €265k
What interest rate are you paying? 2% (tracker)
Arears €2,500
Other borrowings – car loans/personal loans etc
Credit union loan 1 (joint names) - 21k outstanding €300 pm (resturctured 6 years left)
Credit union loan 2 (my name) - 6k outstanding €336 pm (not restructured as may need to access cash for daughters college until grant comes in (if approved)) This loan will be finished if I don't borrow from it in 16months time. Recently borrowed 5k to clear the majority of CC.
No other loans
Do you pay off your full credit card balance each month? no just minimum payment
If not, what is the balance on your credit card? 1130 (hoping to move to 0% interest CC soon)
Savings and investments:
as about 420 euro
Do you have a pension scheme?
Public sector pension
Do you own any investment or other property?
no
Ages of children:
17 and 4
Life insurance:
150 pm (loaded for insurance due to illness on my side, have shopped around but no one is cheaper)
monthly household exp
Mortgage - 864
Life ins - 150
food - 500/600 (inc food for 2 dogs)
diesel - 200
gas - 100
esb - 100
sky - 40
phone - 34
mobile - 20
home ins - 40
car ins - 30
13 - tv licence
300 - creche fees (finishing in june) but loosing 130 CA due to daughter finishing school.
200 - savings
26.50 - waste collection
20 - mobile phone
What specific question do you have or what issues are of concern to you?
I have submitted SFS forms for the last 18 months to our mortgage provider and had been granted int only for 12 months. We have been making full payments since last october but with OH's job we are living week to week. If the mort gets paid esb doesn't etc. We were told to stop paying off any unsecured debt and to pay the mortgage in full. I have explained that in 18 months time i will have an extra €450 pm that I will give to them on top of what we are trying to pay now and that should bring the arrears down too. I have also told them that I will have college fees in sept but they really don't care.
They just don't want to know. Im physically worn down from waking every morning and going to bed every night thinking about money.
If you were in my situation what would you do
Thank you for any advice you may have.