Hey some advise needed here people if possilbe.
I am 22 and working in finance(you think i would have more sense) I earn 33k per year. Below is my current debt levels
BOI PL: 27K
GE PL: 7K
MBNA CC: 5K
BOI CC: 1K
I am starting to use my parents cards though to try win money on horses to pay off my debt ,I know this is a terrible idea and I wont do it again.
This month I have 80 euro to last me until next pay day which is the 18th October, I will get paid 2238, Out of that I need to pay 550 BOI Loan(mised payment from last month,this is the only time I have ever missed a payment on anything and hopefully since I will pay it back within a week I wont get a 1 on my ICB) I also have to pay my 2 loans which amounts to 800 euro and also pay 700 euro off my mams credit card along with 120 to my dads,100 euro to my sister and 60 to another friend. It is going to give me around 120 eurpo to live off for the month. I simply cant go on like this. Its all my own fauly but I need help to get out of it.
I want to buy a house but wont be able to with these two loans in place. Here is my plan below
At present i earn 2238,Loan and Credit Card Payments amount to 1000 euro leaving me 1238 surplus per month.From January onwards I intend to save 800 euro per month in the Credit Union leaving me 538 for social life per month. I need to save 10k with the Credit Union which should take me 8 months as I will have a lump sum of 4k to save in July next year. Once I have this 10k in the Credit Union I intend to borrow 30k(three times my savings) to pay off my loans. This will mean they will be off the ICB and as far as the Mortgage Lenders are aware I have no debt anymore as My bank statments will show no dd's or so's and my ICB will show no debt in place as Credit Union does not show up on ICB
Does anyone here think this is doable,can I live on 538 per month Social Life from now until November next year????
Well wether I can or not it looks like I will just have to.
I am 22 and working in finance(you think i would have more sense) I earn 33k per year. Below is my current debt levels
BOI PL: 27K
GE PL: 7K
MBNA CC: 5K
BOI CC: 1K
I am starting to use my parents cards though to try win money on horses to pay off my debt ,I know this is a terrible idea and I wont do it again.
This month I have 80 euro to last me until next pay day which is the 18th October, I will get paid 2238, Out of that I need to pay 550 BOI Loan(mised payment from last month,this is the only time I have ever missed a payment on anything and hopefully since I will pay it back within a week I wont get a 1 on my ICB) I also have to pay my 2 loans which amounts to 800 euro and also pay 700 euro off my mams credit card along with 120 to my dads,100 euro to my sister and 60 to another friend. It is going to give me around 120 eurpo to live off for the month. I simply cant go on like this. Its all my own fauly but I need help to get out of it.
I want to buy a house but wont be able to with these two loans in place. Here is my plan below
At present i earn 2238,Loan and Credit Card Payments amount to 1000 euro leaving me 1238 surplus per month.From January onwards I intend to save 800 euro per month in the Credit Union leaving me 538 for social life per month. I need to save 10k with the Credit Union which should take me 8 months as I will have a lump sum of 4k to save in July next year. Once I have this 10k in the Credit Union I intend to borrow 30k(three times my savings) to pay off my loans. This will mean they will be off the ICB and as far as the Mortgage Lenders are aware I have no debt anymore as My bank statments will show no dd's or so's and my ICB will show no debt in place as Credit Union does not show up on ICB
Does anyone here think this is doable,can I live on 538 per month Social Life from now until November next year????
Well wether I can or not it looks like I will just have to.