lost job major debts

yjl89

I lost my job in november and have been applying and looking for work but i just cant get any. I have maxed out my credit card and it has now been cancelled , but i still need to pay the full amount i have also used my full overdraft and am in a lot of financial trouble. im 21 and my 19 year old girlfriend paid out of her student loan £100 in order to keep the bank happy. Im feeling really low and hated taking the money from her(her decision). What is the best thing for me to do now? I have no income apart from jobseekers allowance and that goes straight to the bank and i cant get my girlfriend to help out again.

becky_rtw

First thing to do is to set up a bank account not affiliated to any of your other debts - just a basic one like the co-op cashminder account...

Banks are not supposed to take benefit payments for debts but they will if you keep paying it into the overdrawn account...

Some more knowledgable people will be along shortly to help more fully - but I think you will need to write to each creditors outilning the situation and offering them token payments of £1 a month since you are on benefits.

nos4R2

i didn't think the bank was allowed to take your benefits, they are given to you to live on and by the goverments definition they are "the mimimum amount of money you need to live on", open a new bank account and get your money paid in there. make sure it is a bank where you have no debts with, may have to be a basic bank account if your credit is shot. then write to all your creditors offering them £1. change your phone number if you can, if you can't try and get the calls blocked or don't answer them, if you do don't answer the security questions, they are not allowed to speak to you then. do not ignore them though. DO NOT WORRY. Do you own you home? do you have a flashy motor? do you have any savings or investements?

nos4R2

SNAP

look at the posting times

becky_rtw

nos4R2 wrote: »

SNAP

look at the posting times

Great minds eh!

Do come back yj...loads more peeps will have good advice for you - try not too panic too much, although I realise the situation is upsetting...