Financial advice greatly appreciated!
We're getting married in Dec 2007. We had planned on doing this in a year or two and saving - but for personal reasons we decided to bring it forward and borrow instead.
We want to borrow 35,000 to cover costs of wedding and honeymoon.
My questions are
Personal Loan (Me) :
Personal Loan (Him):
Credit Cards (Me):
Credit Cards (Him):
Other Info:
We're getting married in Dec 2007. We had planned on doing this in a year or two and saving - but for personal reasons we decided to bring it forward and borrow instead.
We want to borrow 35,000 to cover costs of wedding and honeymoon.
My questions are
- Loan arrangement:
- Should we apply for a separate joint loan for the wedding - in which case we have repayment of this loan aswell as €1,000 p.m repayments of existing loans plus credit card repayments?
- Consolidate this loan, credit cards and existing loans and repay over 5 years?
- Apply for individual personal loan top-ups?
- Other borrowing options?
- Have we a prayer of getting anywhere near this amount?
- If so - where are the current best buys?
- Should we say it's for a wedding - I've already a home improvements loan?
Personal Loan (Me) :
Orig amt 25,000
Repayments made 6,000
Int chgs 1,400
Amt outstanding 20,400
4 years left of 5 year loan.
Monthly repayments 550 p.m
Gross Salary 85k p.a
Personal Loan (Him):
Orig amt 15,000
Repayments made 6,500
Int chgs 1,000
Amt outstanding 9,500
2 years left of 3 year loan.
4 years left of 5 year loan.
Monthly repayments 430 p.m
Gross Salary 35k p.a
Credit Cards (Me):
CC 1: 7,500 limit - 2,600 spent = 4,900 credit available
CC 2: 15,000 limit - 0 spent = 15,000 credit available
Credit Cards (Him):
CC 1: 3,500 limit - 1,900 spent = 1,600 credit available
CC 2: 7,500 limit - 6,400 spent = 1,000 credit available
Other Info:
Mortgage - 500k...not willing to re-mortgage for wedding.
No kids
Safe secure jobs
Both long history of borrowing, repayments, consolidations due to college fees, car loan, home improvements. Neither of us have ever missed repayments.