WE NEED SOME HELP Struggling to cope as living prices soar
MY WIFE and I are seriously struggling with our finances.
In 2018 I had to stop working due to illness, I’m now back to work but we just can’t get on top of things.
Our mortgage is in arrears and I have credit card debts that I can’t pay.
We have cut back on everything possible; our food bill is down to the bare essentials.
I know things are only going to get worse once the winter hits and energy bills soar. What do you advise?
Terence – Greystones
You are not alone Terence, with the rising cost of living, many people are also struggling with debt.
The good news is this is not a permanent situation and there are solutions available to help you get back control.
The first thing you need to do is talk to a Personal Insolvency Practitioner (PIP) — find a PIP near you by visiting www. backontrack.ie.
The PIP will advise you which debt solution will best suit your situation.
Scheme
You mention you are in arrears on your mortgage so it also sounds like you could be eligible for a free consultation under the Abhaile scheme, the State-funded scheme set up to help people with arrears advice.
You could also call the Insolvency Service of Ireland’s information line 01 764 4200 to locate a PIP near you.
The other good news is while you are availing of a debt solution you will be entitled to a reasonable standard of living.
THOSE lucky to have jobs and enjoy a decent income have the ability to “live under their means” — spend less than they earn.
There are many benefits to be able to achieve this:
●Your debts disappear.
●You’ll be able to build a Rainy