Not slept yet

StillTwenteen

I have restarted college at 21 to do my A Levels in order to move onto a Sports Journalism degree.

However I am about 7k in debt.

If I stay at college I cannot afford to pay off the debt, if I take the bankruptcy option then I wouldn't be able to afford Uni without loans etc.

If I quit then I am left with no qualifications and no hope.

Lovely situation

museumworker

Hello Twenteen and well done for posting, I think that is the first step on your journey.

Your future plans sound great, and good luck with your A levels. I returned to university as a (slightly) mature student and found that I was much more focused on getting what I wanted out of it. I think you should do everything you can to ensure that your education is not put in jepoardy through bankruptcy.

I don't know much about your personal circumstances - perhaps it might be worth posting a statement of affairs so some of the more experienced people can help comment/make sure you're getting everything you're entitled to? Also to work out where the money has been going so you can ensure the debts don't get any larger.

Can you get a part time job to see you through the A levels - I worked for a year and a half through mine, just gave it up a few months before the exams so I could focus. I also worked through the first two years of university part time to make ends meet - the summers are long, so you can earn a bit during this time alone.

Have you spoken to your lenders, or looked at a debt repayment schedule? Breaking it down into more manageable amounts might help it feel less overwhelming.

I've never been bankrupt so cannot advise on that option. However, a fair amount of your debt looks like it is for friends and family, so I assume this would still need to be repaid even if bankrupt?

Also, just seen this post which has some interesting comments:
http://forums.moneysavingexpert.com/showthread.html?t=1973711

Wishing you all the best.