Couple’s $ 48,000 Debt Listed on TradeMe
MIKE MATHER / FAIRFAX NZ
Kirsten Eaton-Luster and Brad Sherratt attempt to offload their $ 48,000 personal debt on TradeMe.
Posting a $ 48,000 debt ad on TradeMe can be a fun way to bring attention to their situation, but there’s nothing funny about the dire financial situation a young couple faces. of Hamilton trapped under a mountain of bad credit.
And while Kirsten Eaton-Luster and Brad Sherratt’s tactics may be ironic, they’re certainly not a pair of bludgers asking for a gift. The couple are full-time workers who, like many poorer New Zealanders, had deliberately taken on debt in order to improve their standard of living.
These included a loan of $ 17,000 for a car and a similar amount for a utility truck, through the credit companies Finance Now and Instant Finance. Eaton-Luster also faced an unexpected dental bill of $ 7,000, which she paid through her Q Card account.
As Eaton-Luster explained, taking out loans to cover these expenses seemed like a smart tactic, as long as no unforeseen catastrophes occurred.
But then a few unforeseen disasters happened.
“We both had really good jobs and we had pulled a lot of those loans,” Eaton-Luster said. “But about a year ago I was diagnosed with severe anxiety and found out I couldn’t take on this role anymore. I had to leave.”
In June, Sherratt seriously injured his back on the job. Although his main job was driving trucks, he had also dug trenches and moved some discs and torn a muscle – illnesses that prevented him from working and staying on ACC for the next six months.
Although they are both back to work, the interruption in income was enough for the interest on their debts to rise and overwhelm them more than ever.
Faced with crippling commitments, the desperate couple resorted to humor as an interim measure.
The cheeky TradeMe list will be followed by many in good faith, as they attempt to sell as much of their property – including the car – as possible to bring down the mountain.
“You are betting on a brighter future for a young couple, who have made silly financial decisions so far in life,” the list reads. “You’ll help them get out of crippling debt… If you win the auction, the highest bid will be used to pay off the debt we currently have and we’ll send you a picture of us thanking us. “
“We both work full time and we still can’t make a dent in this area. We are also two months behind on our mobile phone payments for a total of over $ 300. Our electricity bill is over $ 600 with almost $ 400 late. paid at $ 50 per week. Our internet is late by $ 200, also at $ 50 per week, and we are paying Sky at $ 50 per week.
“We have barely enough left each week to spend $ 100 on food, and yes we manage to put money on each of our debts above, but barely the minimum. “
Last night, the announcement had not prompted any offers.