Administration Orders / Student Loan etc

tupac662

Hello all, as a newbbie I'd like to thank all of you for posting useful advice daily.
After weeks of going through most forum posts in regards to debt, I now feel that I may
be able to deal with my debts rather than ignore the 10+ daily phone calls and letters
(oh, and not to mention the BAILLIFS knocking on our door!)

My situation:

-I'm 23yrs old, working part time (16hrs/week)
-Undergraduate student (starting 1st yr in the next week)
-Owe roughly £3000 on two (high interest) credit cards
-6months council tax arrears (Baillifs are now involved)
-Parking charges @ roughly £150 (but Baillifs now involved, and charges upto £600)

-I think an Administration Order would suit me best, but I'm not too sure on how to go about it, and wheather it would affect my student loan?
-Would my employer have to be notified?
-Would it affect my chances of getting a job after 3yrs of University?

I'm still a novice in regards to financial stuff, and would appreciate any piece of advice from those who've been there and done it.
Anyone who's in a similar situation, I'd also love to hear from you, find out how you are coping, and how you plan to get back on track.

Regards,
CityTrader

thespudman

It is important you address the council tax arears first. Council tax do not mess around and if it has got to the Bailliff stage you need to contact them ASAP to arrange a repayment agreement. DO not let the bailliffs into your property. Keep all doors and windows locked and talk through the letterbox or upstairs window. If you let them in they then have walking possessions which entitles them to enter in future with or without your consent.

Also please address the parking fines. in the same way

What type of student loan do you have? there are two types. One that is regulated by the consumer credit act and is paid by direct debit. And the new style that is deducted from salary.

Your employer will not be notified of your financial position unless it afftects your ability to do your work. Such as financial advisor, bank clerk, and even the army.

It will not affect your chances of getting a job unless the employer credit searches you which you will be notified about.

Please pay your priorities first sich as rent, council tax water gas and electricity. Then divide the remaining money between your creditors

brokemedic

Hi,

I am in a similar situation to you - at uni, in lots of debt that I need to pay off. I can't go down any other route as it will affect my ability to work as a doctor once I qualify. So do check and find out if it will affect your ability to work. I am sure a google search will get the answer for you. I can't give you any advice as to the above but I can tell you how I am dealing with my problems.

You probably know this already but if you are a full time uni student, you no longer have to pay council tax. The uni will give you an exemption letter which you have to go and show your local council.

Go and see if you would be eligible for the hardship fund as well that all uni's have access to. Have you spoken to your LEA to see if you are eligible for any other assistance?

I personally found it quite tough in the beginning - working and studying. I work for 20 hours a week when I am studying. However, a timetable helps and make sure you put in some chill out time for you - no work and no study.

The first few weeks will see everyone go out and get drunk etc etc. Great way to socialise and meet others but can also become expensive as well. So pick and choose. You will get an NUS card, make sure that every shop you go into, you ask whether you are entitled to any money off. Don't shop on campus, if you are living in halls. Vastly overpriced!!!

Sit down and see where you have previously overspent and try and avoid it if you can (easier said than done, I know). I know that my weakness was shopping and spending money that I didn't have so I just don't go shopping anymore. On that note, don't buy any books until you have been there a few weeks. You will find that previous years sell their books on at a discount.

I have personally found the challenges and posting here incredibly worthwhile and great at keeping me focussed. I was an avid lurker for a long while but it's amazing how focussed you become once you have challenges etc to spur you on.

Hope it helps though I know it's probably not the advice you were seeking.
Good luck for uni and I hope you enjoy the whole experience.

brokemedic

tupac662

Thanks a lot brokemedic & thespudman

I've tried speaking to my local council about the council tax arrears, but they wont deal with me. I've been advised to speak to the bailiffs and arrange a payment plan. The Bailiffs want a lump sum of £300 before deciding on a payment plan.
I'm currently paying the council via standing order and not entertaining the Bailiffs at all, as I'd rather deal with the council directly.

My partner also had a miscarriage 4 days after a very aggressive Bailiff visited our flat (I'm very tempted to sue either the Council or Rossendales Collection Ltd)

Thanks a lot for the advice though. I'll keep doing my research in regards to Administration Orders, and maybe even a trip down to my local Citizens Advice Bureau.