Need some help, got myself in a tricky situation!

agorton

Hi, ive gotten myself into a bit of a tricky situation and im basically looking for advice as to what i can do. Im at University in my first year, but ive had a gap year. In that gap year i was INCREDIBLY stupid and naive and travelled for the year using three credit cards. One now totalling 750, one 1500 and one 250. I know how stupid this was now, so please dont go into that. I had planned on working during the year to pay off the monthly charges so it wouldnt be a problem, however the place i was working has just closed down so i am now without a job. I have tried everywhere, but i only have 2 and a half months left of the year before i move back home, so no one is willing to hire me. So the problem i now have is im having to pay back about 60-70 a month but dont have any income... I plan on paying them both off over the summer (or as much as i can) but right now i cant. Is there any way to get the cc companies to freeze payments for say 3 months? Or anything like that? Im not too worried about extra charges, my main concern is being ok with the companies for the next few months.

Any help would be greatly appreciated.
Thanks
Tom

giantmutantbroccoli

If I were you, I'd apply for a student account if you don't already have one, or a loan, to pay off the credit cards. I think RBS still do the £2000 student overdraft, or you could see about getting a loan from the bank you're at currently - the benefits of the overdraft is that it's interest-free for three years or more so you can take that time to pay it off. Some student accounts offer lower loan rates.
From the sound of it, you could also try for a hardship payment/grant/loan from the financial office at your uni - if you go to the financial office (they may call it something else, ask at the student's union if you can't find it) you should be able to get an appointment to talk to someone about your finances, and they'll go through with you what you can do.
Hope you get your problems sorted out!