Help!! Student in Dire Straits

gigi17

Hi all!

I am writing because I am desperate need of help. I have just finished my first degree and am currently doing a law conversion course. I havent got a training contract so my parents have agreed to pay for it until I get one/ can afford to pay. I have a part time job and spend the rest of my week working hard for my course so couldnt do much more to get money. There is a natwest loan which I have tried to get (it is specifically for people training to be solicitors/dentists/doctors etc) but unfortunately I was turned down about 6 months ago now. Therefore my first question is
Should I try again?
I dont want to put my parents under any more financial strain but am not sure how likely I am to get it.
Secondly I have a credit card with capital one. After the summer I started missing payments and the charges that they put on as a consequence (I had not spent up to the limit until they added charges of £35!) have meant that I am over £100 over my limit. I just cant afford to pay it back right now as I have to help towards my london rent etc. The problem is that Capital One have now passed on my account to Debitas who call me almost on the hour every hour. I still cant really afford to pay them and now they have said that I have 2 weeks to clear a substantial amount before they hand my account over to the bailiffs. They have been threatening this for a while but I am petrified that they are going to go through with it. What can I do?
Please please please Martin or anyone can you help me. I would be so grateful...

TFD_2

Debitas is just a trading name of Capital One, so it's still the same company hassling you. They won't pass it over to a bailiff, as there is nothing a bailiff can do. This is just bully boy techniques.

Be aware that the further you get behind on the card, the more damage it is doing to your credit file, which won't help things such as getting the NatWest loan. It is worth speaking to Capital One and seeing if they can refund any of the charges, to help you get the balance down - I understand you don't want to put your parents under strain, but it's definitely worth seeing if they can help you get the card back in line, as it won't help your credit rating if you end up defaulting. Trust me!

CLAPTON

I would echo TFD and consider asking your parents to help you out here.
Although they can't involve bailiffs at this stage they may take you to court for a CCJ.
Although I know little of the lawyers conditions of employment, I would have thought that getting a CCJ would seriously threaten your future career.

Infidel

Did you look into getting a Career Development Loan (CDL)??

gigi17

Thanks everyone. I hae just been pestered by Natwest because I am over my overdraft with them purely again due to charges! I have worked out a method with them and am going to contact Capital One now. I am concerned about the effect of a CCJ so will look into a CDL. Any other advice would be amazing. Thanks!

Ilian2008

Hi Gigi. Im a Solicitor and was in your position about 9 years ago. After the law conversion will you be doing the LPC? I remember that there were a few grants available from Charities and you can find these in magazines like The Lawyer and The Gazette had details in. They are usually set up by Solicitors leaving money to help students etc. Your law library might have details. The Solicitors Benelovent fund might be able to help even if you arent qualifed yet. Their website is www.sba.org.uk. It might be worth a shot. With regard to these debt collectors they really are harassers. I had orange do the same to me at your stage and i wish i had done a stint in Debt recovery then as i realised how hard and expensive it is to get people to pay up. I would write them a letter saying that you will not pay the charges and that you will vigorously defend any claim made against you. Often if they are serious they would have issued a claim form against you by now. I know iis stressful but there is help out there. Try Natwest again. I dont think it will hurt.

Best of luck

gigi17

Thanks Ilian that was all really helpful. This is a very overwhelming...as you will know I have so much work and this is the last thing I need! I am going to do the LPC and so will look into some of these funds. I have just had my first result though. Thanks to TFD's advice I just called Debitas and asked to speak to the boss. I told them that I knew that they were a part of Capital One and that I was being harassed for £100 pounds of charges which I knew were illegal and which I would be claiming back anyway so why didn't they just get rid of them and get rid of me in the process! Eventually the boss said that if I made a one off payment of £480 (£124 less than what they have been bullying me for) then they would clear the debt. I am really pleased. The money wont be easy to find but I am going to ask my parents and sister if they will help and I will have to pay them back.The only thing I am slightly concerned about is the fact that on my file it will say partially paid even though it has been fully cleared... does anyone know how that will affect me?
Thank you all for giving me such great advice. I am really grateful.

Gigi