Student in so much debt and really unhelpful companies :(

Margin_2

Hi

Ok this may be long, just to warn you

I am a student, but have faced a lot of personal difficulties this past year resulting in me getting in a huge financial mess. I get student loans and grants, but the next installment wont come till late september/early october.

I wrote to all the companys i owe money to offering a realistic amount i could afford to pay. Most of the companys wrote back declinging my offer and some didnt reply at all. As this was the complete maximum i could afford i got a bit scared. I must admit i have buried my head in the sand a bit, but am facing up to it now.

The debts are: Orange- £240. They refused my offer.
Capital one- £150. They also refused
Natwest- £500 Didnt reply to my letter.

I can pay these off come 1st October, however Natwest are threatening me with a Default notice so i have 17 days from 26th August to pay £150 or else my account will be frozen and the rest demanded. However i dont have even £10 until end of september so i cant actually make this payment. I rang them up today and they said they couldnt accept a payment plan unless i apid them £67 today and then £30 a month despite me saying i could pay it all off on 30th september. So the default notice will probably go ahead and i will be in an even worse situation.

I really dont know what to do. I noticed on this website earlier i would be entitled to a lot of my bank charges repayed to me, i have printed the letter off to send to my bank asking for the copies of my default charges but as the letter says this could take uptp 40 days and then i have to send the other letter out too.

I can't ask my mum for money as she is poor and wouldnt be able to lend me anywhere near enough to get Natwest off my back.

Any advice? Im really grateful and sorry its so long!

Lokolo

How much were you offering to pay off per month to them?

Have you got a job?

How are you going to pay for rent and food if all your student loan installment is going on these debts?

Margin_2

Lokolo wrote: »

How much were you offering to pay off per month to them?

Have you got a job?

How are you going to pay for rent and food if all your student loan installment is going on these debts?

Er to Orange i was offering £40 one off and then £20 per month.

To Capital one i was offering £50 one off and £15 per month

To Natwest i was offering £70 one off and £20 per month.

I haven't got a job, the small business i was working for went into liquidation but im actively searching for a new part time job

Ive transferred uni to one close to home so i can live at home for the next year and save money and avoid the situation worsening.

coffee_prince

They are more likely to accept a repayment plan if you go through a debt advice charity. To go to one of these you will need to book an appointment, bring all detail and corresppondance with you, what you earn etc.. They are really helpful with getting debtors to agree to stuff like this.

All the best