Will your bank understand that you have ****ty tenants and give you a stay on your repayments?
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28-04-2016 08:29 #11
28-04-2016 08:29 #12
28-04-2016 08:42 #13
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.
28-04-2016 08:47 #14Senior Member
- Join Date
- Aug 2014
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
28-04-2016 08:54 #15
28-04-2016 09:11 #16Senior Member
- Join Date
- Mar 2012
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.
28-04-2016 09:11 #17
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? :/
28-04-2016 09:23 #18Senior Member
- Join Date
- Jun 2009
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 😘😘
28-04-2016 09:30 #19
$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.
28-04-2016 11:00 #20
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
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