Bad Debt...young and foolish

Yeah, the CC is a nightmare if it starts getting out of control.

I never knew about ICB until I was nearly 30. And another thing I didnt know about was that I could claim money back (MED1 for example) - I have wasted years of GP bills and prescriptions all because I just didnt know you could claim back. I only found out by accident just over 2 years ago (Im mid 30s now).

Dont feel that youve done something terrible though - it happens to loads of people. I have a number of friends who went through something similiar to you at one point or another and some who still have not realised that the money has to be paid back someday.

I think youve done very well to stand up and address it.

Is there any way you could earn a few extra quid doing part time work?
 
When i move to UK i will take on both a full time job and part time.

But the salaries over in UK are alot lower then over here, so really i will be just breaking even.

Im hoping the Stg gets stronger, as this will be better for me. I will be a happier person when i have the CC cleared, or even under 2000 each.

I think the move to England will do me good, everyone over there is penny pinching, as the recession is much worse (funny way to look at things) over there, so maybe that is the environment that i need to be in at the min.

I also have something coming up at the end of this month, and im hoping to get some compensation out of it. Hopefully about 1500-2000, so that would help a little bit. I know i shouldnt be relying on that sort of thing, but it would be a big help.
 
well the first thing you need to do is use the CU savings to pay down your highest interest rate CC.

Having CU savings at the same time as credit card debt is madness!!
 
finty said:
well the first thing you need to do is use the CU savings to pay down your highest interest rate CC.

Having CU savings at the same time as credit card debt is madness!!
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The CU does not work that way. Your loan is secured against your savings. You cannot withdraw savings from the CU if they are secured against an existing loan.
 
dave2k said:
The CU does not work that way. Your loan is secured against your savings. You cannot withdraw savings from the CU if they are secured against an existing loan.
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Not all CU loans work this way. Some CUs did away with this requirement, which isn't really in the best interest of the customer. The OP will need to check the conditions of his own CU.
 
My Credit Union savings and loan are tied up with each other, therefore have to keep the money where it is.
I have no job waiting for me in England, but i will take any job until i get on my feet, maybe temping or something. I know i wont be spending as much money when i get over there, plus i wont have to be paying for flights every month.
I dont know much about interest rates, but i dont think i get charged that much, maybe €12 p/m
its just a crappy situtation i got myself in. But im working at making it better.
 
Orls81 said:
I dont know much about interest rates, but i dont think i get charged that much, maybe €12 p/m
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I would advise to try & get out of this way of thinking. You are better off knowing everything about everthing...it just involves a bit of reading up or making some inquries.

Its amazing how many people have mortgages but when you casually ask them about what interest rate that they are on?

They open with the line.....'I think I am on 5.1%....' & having pondered on it for a minute they end the sentance with '.....I don't know, I'll check it up'

In other words, your opening post title - 'Bad Debt...young & foolish' should eventually translate to 'No Debt...older & wiser'
 
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Ok, i did check, but still a bit unsure.
AIB - 5.4%
MBNA - 5%

Does this sound right?
 
For credit card interest rates? They sound extremely low! Take a look at your statement - it should say something along the lines of interest charged on purchases at x.xx% per month. Multiply this figure by 12 to get the APR on your credit card.
 
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