# Recent Medical condition has me in trouble



## kkelly77 (26 Jul 2010)

*Age:*
33

*Type of employment:*
On illness benefit due to medical condition, which began mid April this year.

*Expenditure pattern:*
Looking for penny's at this stage

*Rough estimate of value of home*
€190,000

*Mortgage on home*
€225,000 (€826 pm. Will increase when PTSB apply new interest rates)
*Mortgage provider:*
PTSB
*Type of mortgage: Tracker, interest only, fixed rate*
Variable
*Interest rate*
3.6%

*Other borrowings – car loans/personal loans etc*
Credit Union - ~€15k
Credit card - ~€1980

*Do you pay off your full credit card balance each month?*
No.

*Savings and investments:*
~€1200 in CU

*Do you have a pension scheme?*
No

*Do you own any investment or other property?*
No.

*Ages of children:*
None.

*Life insurance:*
Yes.

*What specific question do you have or what issues are of concern to you?*
I was working as a temporary contractor but developed a medical condition that initially had me out of work for several weeks. As a contractor I did not get sick pay. I made an attempt to return to work but my illness got worse. This led to more missed time and the eventual cancellation of my contract. This was due to the approximate recovery time of 6 months I was given by my doctor.

As things stand now, I am currently on illness benefit and is the only income I have. I am not in arrears with any of my loans. However, I am fearful this will all change by the start of next month. I have applied for Mortgage Interest Supplement and am still awaiting the forms back from my mortgage lender. As per the MABS site, I have written to all my creditors explaining my situation and asked them to freeze any interest or penalty charges. I have an arrangement with the CU who were only too helpful. But the credit card issuer was much less understanding saying they would not freeze the interest on my card.

I really am searching the back of the sofa for pennies now. And I mean that literally as I've already sold part of my furniture to keep my head above water. I'm even in the process of trying to rehome my dog!

I would appreciate any and all advice that people can offer. I've advertised 2 bedrooms on daft for rent, I've sold/tried to sell items such as my printer, scanner etc., I only shop in Lidl/Aldi and buy the essentials, all in an effort to squeeze every penny.

Thanks for taking the time to read and reply.

K


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## niceoneted (27 Jul 2010)

I feel for you. I had an illness few yrs ago that put me out of action for a number of months. fortunately I was entitled to some pay while off. 

Some pointers:
Have you approached you mortgage lender to see if you can go on to an interest only payment for 6-9 months. Stick with the application for the mortgage interest supplement. 

Would the credit union be willing to add the credit card debt to your loan with them - would you have a family member that could clear this for you either? 

Is there any way you could do a few hours somewhere to bring in a few bob - not necessarily the job you normally do, bit of babysitting.

Good luck with your treatment - that is the main thing getting yourself back to good health. You can not put a price on it.


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## kkelly77 (27 Jul 2010)

niceoneted said:


> I feel for you. I had an illness few yrs ago that put me out of action for a number of months. fortunately I was entitled to some pay while off.
> 
> Some pointers:
> Have you approached you mortgage lender to see if you can go on to an interest only payment for 6-9 months. Stick with the application for the mortgage interest supplement.
> ...



I  was on interest only with the mortgage last year. Was made redundant around mid '09. The only thing is, once I went back off interest only my repayments increased as the term of the mortgage stayed the same. So it was like saving a bit now but paying for it later. And with the increase in rates again things aren't looking too good.

I haven't asked the CU about taking on the CC and asking a family member to take that on is not an option.

I sometimes fix the odd PC to get a bit of cash but that doesn't happen too often. And it's usually for friends so it's normally a favour more than a service/reward scenario.


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## niceoneted (27 Jul 2010)

Ok if you end up fixing PC's for friends etc ask for a little money or even barter with them. Can they offer you a service in return? 
No harm in asking the bank for another interest only period or is there a possibility of extending the term. 
Also perhaps try switching the cc to another company where you get 0% transfer so no interest will build for few months but you must not use it.


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## dmos87 (30 Jul 2010)

Consider providing computer lessons to those who are clueless with PC's. There might be a few bob in there for that.

Also, it is the season of holidays, and with that people are looking for kennels, etc. for their pets. As long as your own dog is sociable, there is nothing stopping you earning a bit of money from minding pets this month. Place signs in your local shopping centres, etc. and see what happens. No harm in trying. 

Are you handy with a toolbox? If so, also advertise for that. You need to do whatever you can to get some income so have a brainstorm tonight.

Best of luck and remember - this is temporary. You will be back to work eventually.


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