+ Reply to Thread
Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 31
  1. #11
    Join Date
    Aug 2010
    Posts
    6,868
    Thanks
    5,194
    Thanked
    3,894
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Will your bank understand that you have ****ty tenants and give you a stay on your repayments?

  2. #12
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,335
    Thanks
    336
    Thanked
    2,198
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Quote Originally Posted by babyno1onboard View Post
    I'm so sorry you're in this situation. If the tenants had been paying their rent would money have still been an issue? If not, can you ask family of you could borrow some money until the tribunal sorts out getting rent back from the tenants and you get new tenants (who will hopefully actually pay their rent)?

    This thread also shows that not all landlords are wealthy people dodging tax which I think is often the perception... (Sorry, side note).
    Yep that's why I stayed out of that thread 😝 I was getting angry haha! No we would have income as our actual mortgage is $250 but her rent is supposed to be $330 but i pay more to make it cover rates etc at end of year/months etc on redraw. I hate asking for money UGH!! Our credit card is only 8k thankfully I wish we could just forward tax time haha

  3. #13
    Join Date
    May 2007
    Location
    Gippsland
    Posts
    14,661
    Thanks
    1,208
    Thanked
    3,837
    Reviews
    2
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Do you really need private health insurance? That'd be the first thing I'd ditch. I would try as hard as possible to hold onto the house.

  4. #14
    Join Date
    Aug 2014
    Posts
    2,280
    Thanks
    2,364
    Thanked
    1,918
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Is there any way you can get rid of the car that's costing $210 a week? That's a sh!tload of money for a car every week. Can you downgrade?
    Maybe ditch phi temporarily too.
    Definitely need to get in touch with everyone and work out a plan, financial counsellor will probably help a lot with that and negotiate for you. https://www.moneysmart.gov.au/managi...Q&gclsrc=aw.ds

  5. #15
    Join Date
    Feb 2015
    Posts
    2,057
    Thanks
    2,308
    Thanked
    1,390
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by Hollywood View Post
    Do you really need private health insurance? That'd be the first thing I'd ditch. I would try as hard as possible to hold onto the house.
    If you're over 30 and don't have PHI then you will pay more for it for the rest of your life when you sign back up

    Sorry OP not sure how old you and your partner are but that's worth taking into consideration.

  6. #16
    Join Date
    Mar 2012
    Location
    Perth
    Posts
    859
    Thanks
    949
    Thanked
    605
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Quote Originally Posted by babyno1onboard View Post
    If you're over 30 and don't have PHI then you will pay more for it for the rest of your life when you sign back up
    Or maybe swap to the cheapest policy you can find, just to maintain the services you consider essential and to avoid the over 30 PHI loading.

    Is there an option to move credit card providers and roll over your cc debt to a new card that has an introductory interest free period? It might give you an extra month or two to pay down the principal some more before interest kicks back in again. If you have a good credit history, maybe they'd consider it despite your current income.

  7. #17
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,335
    Thanks
    336
    Thanked
    2,198
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    DH is 30 this year.

    If I sell the car what happens I just pay the loan? Sorry I don't really understand car loans I sound stupid I know. Or can I trade it in for a smaller car? :/

  8. #18
    Join Date
    Jun 2009
    Location
    Sydney
    Posts
    3,233
    Thanks
    650
    Thanked
    887
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    I would not sell the house unless I was about to lose it. You need to look at that as an 'asset' or positive debt. It would be waaaay harder to get back into the market later on.

    Can you sell the car? How much would it be with & how much would you have left to pay off?

    Can you ditch or reduce the other stuff? Reduce phone/internet plans, foxtel (if u have it).

    The water bill seems a lot - do you mind me asking how come it's that large? Can you look at reducing consumption some way - a genuine question - not trying to be mean.

    Have u got any old stuff you can sell on eBay? Old cots, other baby stuff - even just for $50.. It might help you pay stuff off or buy some yummy groceries.

    Hope that helps 😘😘

  9. #19
    Join Date
    Jul 2015
    Posts
    6,869
    Thanks
    4,776
    Thanked
    4,210
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    Quote Originally Posted by monnie24 View Post
    DH is 30 this year.

    If I sell the car what happens I just pay the loan? Sorry I don't really understand car loans I sound stupid I know. Or can I trade it in for a smaller car? :/
    you'd sell the car and repay whatever's owing on the loan. any excess could be put towards a new (smaller) car with lower repayments.

    $210 a week is a huge amount, that's definitely a luxury you can't really afford right now. tend to agree re phi. or can you just reduce the cover to the most basic hospital cover until you're back on your feet? you'd avoid the lifetime loading thing and get to lower your payment amount.

  10. #20
    Join Date
    Jul 2010
    Posts
    10,301
    Thanks
    3,122
    Thanked
    6,312
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Talk to your bank about getting a line of credit or overdraft on your mortgage ( if you have enough equity in the home) the interest rate will be so much better and pay off your credit card with it as that interest will probably be triple and possibly the car loan ( or sell and get a cheaper car) get In front with all your bills and hopefully once you get back on your feet ( full time work and rent paid by tenants) you can pay off the line of credit and just keep it for emergencies , I'd keep your health insurance just in case as I know you and your DS have had some health struggles


 

Similar Threads

  1. Help! How do I buy a house
    By smallpotatoes in forum House & Gardens
    Replies: 14
    Last Post: 21-01-2016, 14:18
  2. Getting out the house....
    By Wanting2b in forum Constipation, Toilet Training
    Replies: 6
    Last Post: 09-10-2015, 17:14
  3. I really want to buy our own house
    By bigZ in forum Family Finances
    Replies: 5
    Last Post: 10-06-2015, 20:00

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Boody Organic Bamboo Baby Wear
Softer than your bub's bum Boody Organic Bamboo Baby Wear
Australia's favourite eco brand has delivered a gorgeous baby collection. Made from organic bamboo, Boody's extraordinarily soft and stretchy, skin-friendly tops, bottoms, onesies, bibs and wraps don't 'cost the earth'. Get 20% OFF! Code BUBHUB16.
sales & new stuffsee all
Bub Hub Sales Listing
HAVING A SALE? Let parents know about it with a Bub Hub Sales listing. Listings are featured on our well trafficked Sales Page + selected randomly to appear on EVERY page
featured supporter
SRC Pregnancy & Recovery Shorts
Want pain relief during pregnancy, and to continue working and exercising? Fancy a speedy recovery after childbirth? Want to regain your pre-baby body shape fast? Recommended by healthcare professionals, SRC compression products will let your body do its most important work.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!