how do i get out of this mess

ok last year i got a mortgage on the back of havin two jobs. this year i lost one of them but still have my main job.
so here it is
* i earn 550 euro per week and my job is secure
my monthly repayments are as follows
Mbna creditcard owe 8000---min payment per month 180
BOI creditcard owe 4100----min payment per month 110
tsb mortgage 215000------1083 per month
BOI car loan 4000---3 year---56 per month
esb--- about 70 month
Vodafone----- 100 per month
i cant aford to eat!!!!;(
ok so only for i work for cash maybe 4 days a month i couldnt survive and the pt boss says i cant go thru the books.

i dont think any bank will touch me for a consoladation loan even tho my credit rating is brilliant cause i never missed a payment on all the other loans i took out over the years and paid back. im 26 male living alone and broke week in week out

oh i should add that i recently got approved for trs1 taking 180 off my mortgage repayments of 1083

Just a quick look at your costs. Your Vodafone bill seems high. It is possible to look at changing tariffs. If you are spending a lot of it on texts, can you use the free on line texts. Also is it possible to rent out a room in your house. I know there isn't as many people looking to rent rooms but you could be lucky. would bring in abit extra and also reduce your utilities a bit.

You many get a bit extra TRS after the budget

12K of credit card debt ? Have you anything to show for it, any assets you could sell ?

These are the most expensive debt. See if you could get some loan to clear, at least, one of them, at a repayment amount equivalent to what you're currently paying. Is a credit union an option for you ?

Oh, and tear up the cards - live off cash. If you don't have the cash, you can't have it.

the reason i got the cards in the first place was too go on holiday which i cleared when i came home. just when i starting buying for the new house i kinda got out of hand. i intented to clear them with the mortgage but it wasnt long being spend on things i needed for the house. mortgage gone still with uncleared cards. how much would a loan cost me a month if i put the two cards and car loan together over 5 years?????

Assuming your €550pw is after tax, this equates to €2383 a month.

Your outgoings after the TRS adjustment is €1419 leaving you €964 to live on a month

Even if the €550 is before tax, given your salary, your tax bill will still be low and you are earning extra income in cash as well

what are you spending your money on?

You need to keep a spending diary to see where it is all going

Also, could you take in a lodger for a couple of years?

galwaydude said:

.. how much would a loan cost me a month if i put the two cards and car loan together over 5 years?????

Click to expand...

Quick calculation using EXCEL loan calculator download

€16100 @ 9% over 5 years (60 repayments) = €334 per month

Total cost of loan = €20,052

Lender's calculation will be different.

€964 breaks down to 241 per week but i am a smoker( which i am 3 days without now tryin to quit) and the bulk of my "available" income i spend mostly on diesel to and from work(roughly 80 pw) and driving to spend time with my girlfriend who doesnt drive 80 miles away. iv cut down my fone tarrif cut off my sky nearly fully havnt gone out in months dont eat out or waste money but the cost of living this boring life leaves me without any leasures at all.......christmas should be fun

If it's any consolation galwaydude, there are a lot of other people in the same boat. It won't seem as bad not going out if your friends can't afford to either.

Did you try to consolidate the loans & cr cards ? Most of the €290 min payments will be for interest so it will take a long time to get clear.

It's worth a try especially if your credit rating is good. Even if you could get rid of one of the C Cards it'd be a move in the right direction.

What is your car worth, could you sell it and buy a cheaper car? Could your girlfriend move in with you and share your living costs? You need a lodger in any case to supplement your income and you need to cut up the credit cards. Do you have anything of value you could sell?