H
haventabean
Guest
I am new to this site and really unsure about finances and I really hope you can help me.....
we moved into our first new home a year ago and with all our our initial housing exenses we are really struggling every month now to manage the debt we have got in with both our credit cards and overdraft maxed (overdraft halfway through the month regularly). we are both in reasonably paid jobs but cannot seem to clear this debt that moving in has cost us.
to complicate things further we are getting married early next year and while we cannot afford to pay for the wedding in full(
we cannot save at the moment) we have been kindly offered financial assistance from parents towards the wedding of €20K.however, we figure we would still need to borrow €40k to fund most of our other wedding expenses and to consolidate our existing debt in order to put it into one managable controlled payment every month rather than trying to juggling it about as we are now.
I was wondering if it would be at all possible for us to use this €20K to lodge and then borrow from my credit union? Unfortuntely, i only started with them last month and have made one payment by standing order. we were wondering if we could lodge this €20k would it enable us to borrow the larger amount of €40K in 4 or 5 months time? do i need to make a smaller loan first? should i lodge the €20k into seperate lodgements over 3 months? is it likely they will let me borrow €40K?
unfortunately, we are also concerned as we will need access to finances to pay deposits for upcoming wedding expenses.
alternatively, we were going to apply for a €40K loan with our bank (PTSB) as this is were we have our joint account ( and overdraft)
would it be more finacially feasible for us to go to the credit union if this is at all a possible option for us?
I would really appreciate anyones advice on this matter as we try to manage and pay for 2 of the most expensive stages of our lives!
Many thanks!
we moved into our first new home a year ago and with all our our initial housing exenses we are really struggling every month now to manage the debt we have got in with both our credit cards and overdraft maxed (overdraft halfway through the month regularly). we are both in reasonably paid jobs but cannot seem to clear this debt that moving in has cost us.
to complicate things further we are getting married early next year and while we cannot afford to pay for the wedding in full(
we cannot save at the moment) we have been kindly offered financial assistance from parents towards the wedding of €20K.however, we figure we would still need to borrow €40k to fund most of our other wedding expenses and to consolidate our existing debt in order to put it into one managable controlled payment every month rather than trying to juggling it about as we are now.
I was wondering if it would be at all possible for us to use this €20K to lodge and then borrow from my credit union? Unfortuntely, i only started with them last month and have made one payment by standing order. we were wondering if we could lodge this €20k would it enable us to borrow the larger amount of €40K in 4 or 5 months time? do i need to make a smaller loan first? should i lodge the €20k into seperate lodgements over 3 months? is it likely they will let me borrow €40K?
unfortunately, we are also concerned as we will need access to finances to pay deposits for upcoming wedding expenses.
alternatively, we were going to apply for a €40K loan with our bank (PTSB) as this is were we have our joint account ( and overdraft)
would it be more finacially feasible for us to go to the credit union if this is at all a possible option for us?
I would really appreciate anyones advice on this matter as we try to manage and pay for 2 of the most expensive stages of our lives!
Many thanks!