Q – I am a single parent, working part time and struggling to make ends meet. I was out of work for some time last year due to illness and ever since I cannot get on top of my finances. I have a car loan of just over €12,000 and a credit card debt of €6,400 and, with my rent and the increase in living cost, I have fallen into arrears on both the car loan and credit card over the last few months. How can I turn things around? Love the column Mary – Cobh Co Cork
A – Thanks for this and similar to your own situation Mary, the rising cost of living is putting huge financial stress on many households around the country. However, there is help out there to get you, and others like you, back in control of the situation. As your total debts are less than €35,000 and you mention you are renting, a Debt Relief Notice (DRN) could be an option for you. As a first step, I recommend that you make an appointment to meet with an Approved Intermediary (AI) either by contacting the MABS National Helpline at 0818 07 2000 or by visiting the Insolvency Service of Ireland’s website www.isi.gov.ie where a list of AI’s can be found under the “Register of AI’s”. AIs are financial experts who will talk through your situation and find a solution for you. They will deal with your creditors on your behalf, which will put a stop to any phone calls, letters and emails giving you peace of mind and the good news is – this service is free. Whatever you do, do not suffer in silence. Best wishes.