# should i go to MABS?



## chilli (24 Feb 2010)

hi im a new member here but a long time browser.

i just need some opinions on wether you think i should go to mabs or not

im currently unemployed getting €415 weekly welfare and €89 mortage suppliment
i owe the cu €16000 and am on an arrangement of €60 weekly
my mortage is on reduced payments of €585 monthly
two credit cards one with a balance of €10000 with a monthly agreement of €85
and another with a balance of €5000 with a monthly agreement of €80..

money is very tight but im wondering would i benefit anything by going to mabs or are my current arrangements the best i can hope for???

thanks in advance!


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## Vincenzo (24 Feb 2010)

*Re: should i go to mabs???*

Mabs
Money advice and budgeting service
Sounds like you could do with all of the above.

They have lots of experience in dealing with all of these issues and will guide you through
Sorry don't mean to sound flippant.
They will help decipher all your contracts and even negotiate with the lenders on your behalf.

You seem to have adjusted your repayments perhaps MABS will just reaffirm that you are on the right path.

Best of luck


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## Bronte (25 Feb 2010)

Of course you should go to MABS, you never know what tips you might get.

Is the interest frozen on those credit card repayments?  Do you still use your credit cards.


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## missdaisy (25 Feb 2010)

I agree with the other posters, do go to MABS. As Bronte said you never know what tips they will have and if nothing can be done to improve the current arrangement at least you have made the necessary enquiries.


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## chilli (25 Feb 2010)

Bronte said:


> Of course you should go to MABS, you never know what tips you might get.
> 
> Is the interest frozen on those credit card repayments?  Do you still use your credit cards.



yes the interest is frozen on the credit cards and are no longer in use


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## Bronte (25 Feb 2010)

chilli said:


> yes the interest is frozen on the credit cards and are no longer in use


 
Excellent, well done.


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## Neady80 (2 Mar 2010)

Hi hopefully someone can give me some advise on whether MABS could help me. 

Approximately 3 years ago I took out a Credit Union Loan of €25,000 euro with my father as guarantor. At the time I was in a well paid job earning in excess of €35,000 a year also at the time I had no other loans or responsibilities so of course it wasn't a problem then. However I lost my job this time last year and I have not been able to find one since. When I first lost my job I contacted the Credit Union and told them of my situation and asked them to review my loan. They agreed to reduce the payment on a 3 month basis and see were I go from there. 

Of course now this has been going on a year and resently they call me in and told me that I had until July with the reduced repayment and then it will go back up to the full amount and that would be that. I have been frantic trying to get a job but of course nothing is coming my way, I am now worried that if I don't have a job earning sufficient money to afford to pay this loan and my other commitments it will fall to my father, which of course I don't want.

I have asked them to redo the loan over a longer period which would bring down the repayments and everyone will be happy but they said no as the finanical regulator would not allow that.

Has anyone any advise, as I have no idea what am going to do if I don't have a job by July.


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