In Debt At The Age of 19

monochome_blue

1st post, hi everyone!

Do you have the phones from the contracts? If so, sell them! Many people don't realise just how much they are worth, I generally get a free upgrade every year, sell the old phone on eBay and make £80-£100 each time.

MB

workdesk12

I used to be a collections officer, (scary I know), but don't worry, I'm here to help and not to make you feel like degenerate of society. First off, you should go seek a credit counselor. Now, I am not in your country so I would suggest you speak with your bank and see if they can put you in touch with a free credit counseling service, because you don't want to pay if you can get it for Free! Second, the credit counselor might tell you to get a consolidation loan. That means, they put a stop to all your accumulating interests, and you will make monthly payments based on one low interest. Are you following? You cannot miss a payment! Consolidation loans are great because once the credit counselor takes over; you won't have to deal with creditors any longer. My suggestion, go look in the phone book or call the bank.. Whatever the deal is in your country. After all your debts are settled, go and download Nabit, then use Nabit, (an affiliate of eBay) and find a cheap book on Money Management. Find out how much you earn after you subtract all your expenses. Don't worry, tons of people in your situation, you just have to do something about it now. Cheers!

Jen_Jen_5

do not get a consolidation loan

take the advice from the long time posters of this board, you have enough income (if you stop paying your friends) to clear your debts quite quickly.

ignore the advice to get another loan

dinkylou

Completely agree.

This would make your situation worse not better as your problem is overspending.

Do not get a consolidation loan - worse thing you could do.

climbgirl

I just wanted to reinforce that too, don't get a consolidation loan! They may reduce your monthly payments but it means that you take far longer to pay off the loan and that costs you a lot more in the long run.

You have enough money in your situation to throw at your debts to pay them off. Avoid a consolidation loan - you'll only end up paying a lot more for your debts in the long run.

Kevicho

If i were u pal id spend the £200 you owe that idiot on a games console or PC, that way you can save money by staying in, youll not "need" to pay people to stay and have much more enjoyment out of your money

My two cents

dcampbell86

How am I gonna be able to afford to buy anything at christmas?

---lee---

dcampbell86 wrote:

How am I gonna be able to afford to buy anything at christmas?

This has got to be a windup.

dcampbell86

how u mean?

---lee---

dcampbell86 wrote:

how u mean?

What I mean is that a lot of people have given you a lot of good advice.

Your 19, not 9. You are responsible for your actions. You can apply the advice you have been given to save money and get out of debt quickly, or you can ignore it and carry on as you are. That's your choice.

Why do you need to buy anything at Christmas? Tell people you are broke and you don't want any presents off them. You can give small token gifts to let people know you are thinking of them.