Very extreme reason for hardship

Ryan.Maloney

Hi. I'm a student.

I've been unfortunately - something I really don't want to dwell on. My father has been very abusive to my mother and my sister and they are finally living apart. My father is not a very nice man (it's so hard to say that about my own dad... I feel like I owe him alot.. but anyway..)

I have a very strong academic background - All A Grades at GCSE and A-Level (Science and Maths) with over 90% in my modules. This is nothing special - I know - plenty of law students, medical students etc. have grades like this...

I have been underperforming at uni. My doctor diagnosed me with depression and my finances are really bad


Applying for hardship fund (Access to Learning Fund) - I couldn't do this - I would feel ashamed and embarrased & I really don't want anyone at uni reading about my problems. I also feel like a total sponger - it's really something I don't want to do.


I'm at uni in London and the rents here are insane.

I owe £10k in professional loans, £10k on credit cards and overdrafts to 3 banks of nearly £2k each (I was only supposed to open one account but I fibbed - intially to get the free gifts but then I became more and more depserate for money)

I have been using cash advances to make loan repayments.


Should I just go for bankrupcty? I won't be able to get credit again but I've run out of 'credit'.


I realise I should get professional advice, but I'm just wondering if any of you have any advice. Could the bankcrupty judge give the credit card companies and banks my clothes and stuff (could they sieze it then sell it?)


Now I would feel bad about declaring bankcrupty cos in effect i am steeling that money from those companies. But I kind of feel morally justified.. I feel they have big profits and they won't feel it. But then I feel like the general public's interest and fees will go up.. so that's on my conscience.



..sorry I know this is a bit of a rant, but any advice would be great. Thanks

chugalug

Sorry you're having such a rough time. Have you spoken to the student welfare officer? Sometimes it just helps to talk things over with someone to get it all in perspective.

I can see where you're coming from with the hardship funding but really, its there for people when they're struggling. It can be really hard to ask (I know I took one look at the forms and decided not to but wish I had!) but it would really help in the long run.

Really, you have an awful lot to cope with at the moment - IMO you shouldnt really be rushing into a decision about bankruptcy until you're well yourself. Depression can be debilitating and can distort your perception of a situation and also your ability to cope with it. While you've got so much to deal with maybe you should delay any major financial decisions.

You may get rid of your credit card debts and overdrafts in the bankruptcy but the implications are far reaching. You would still have your student loans, you would be barred from certain professions and you would find it really hard to find accommodation as you would fail the credit checks most landlords make. You would also have trouble getting even the most basic bank account as the bankruptcy would stay on your credit file for 6 years.

Anyway, perhaps if you could just access some of the available services at Uni you could try and make some headway. Even making a plan helps. Anything you discuss would be completely confidential - not even your tutor would know if you didnt want them to.

I hope you can take the first steps to getting help with this and if you want to ask any more questions here I'm sure someone will be around to help. Good luck.

jojo2004

Totally agree with chugalug - and I've been in the same sitch as you Ryan.Maloney, it's rough. But Access to Learning is supplied by the Gov and if it doesn't get claimed by that Uni for that year, it's reduced next year, so you're not taking anything you're not entitled to. And you can't feel bad taking money off the fat cats, surely!
And welfare/finance people have loads of things they can offer to help, so go talk to them. Also, your uni should have a counselling service - don't forget they can help with debt problems as well as general counselling.
Feel better, don't stress, money's not the only thing in life, honest! And loads of people find finances difficult - my mum does most of mine for me, and I'm 25, doing a PhD!! No shame in that. Be honest, and your mates will rally round, as will family etc.

sophlowe45

Go get advice!!! See your welfare officer, student financial advisor at uni etc.

Aren't there new rules in place regarding bankruptcy? that allow you to walk away from debts after 12 months or something, but definately go get advice to find out if bankruptcy would be the best option available to you or not and apply to the Access to Learning Fund.

Best of luck.

chugalug

Yes, you are discharged from bankruptcy after 12 months BUT it will stay on your credit file for 6 years. You will therefore have problems for 6 years following your bankruptcy discharge - 7 years in total.

There is also quite a high fee when you petition for bankruptcy - many people in severe financial difficulty can't afford to go bankrupt!!

KizzyK_2

Please believe me when I say there isn't any shame in going to see your welfare officer / student financial advisor, a few years ago when I was at college my dad was made redundent. At first I found it hard to go in and ask for money to cover costs on my course and for the stuff I needed and it took me a few days of walking past the office to get the guts up to go in. I did in the end and they were really helpful, gave me loads of info for other stuff I could apply for and help with filling in the forms.
As for being worried about people reading about your problems, it'll be nothing that they haven't dealt with before and will still be dealing with long after you've left uni and no one will know outside of the welfare office.
Good luck either way

Ryan.Maloney

chugalug wrote:

Yes, you are discharged from bankruptcy after 12 months BUT it will stay on your credit file for 6 years. You will therefore have problems for 6 years following your bankruptcy discharge - 7 years in total.

There is also quite a high fee when you petition for bankruptcy - many people in severe financial difficulty can't afford to go bankrupt!!

How ironic:

To issue a bankruptcy petition for your own affairs (debtor’s petition) £150

Taken from http://www.hmcourts-service.gov.uk/infoabout/fees/county.htm


The other thing is - I can't even afford a suit, so if I go before a judge I'd look really scruffy and disrespectful.


Thanks everyone - for your suggestions.

jr666

You can pick up a suit from a charity shop for a fiver.

You're clearly in a bit of a hole and i'm sorry about that but i think you need to stop feeling sorry for yourself and seek out the help thats avaliable, there is plenty of free debt advice availiable. Try looking at the debt free wannabe board (if you haven't already) there are some amazing people there who will be more than willing to talk you through your options and set up a plan to get you back on the right road.

lellie

WELFARE OFFICE - seriously.. Go to your union and talk to the nice welfare officer.. They're usually very supportive and they've had basic counselling training too so could help with your depression, or at least help you get support. I think it's more important you treat that, than worry about your finances at the moment. As you come out of the depression you'll be able to sort everything else out. Try and sort out a short term solution - access to learning is the easiest and will help you to keep up with interest payments, while you sort out what else you need to do.

Apply for access to learning fund - seriously. That's why it's there. So often it goes unclaimed or ends up going to people that really don't need it, because the university has it left over and has to use it or the money is lost. It will really help you to sort out things in the short term, while you look for the best solution. It's there to help. Don't be ashamed. You need it. It's better that it goes to the people that need it than it sitting in university bank accounts, or going to some stupid student that's blown all their loan in the first week, on designer sunglasses (yes that does happen and it makes me so angry).

As for people looking at your affairs. If it helps it's worth it. I don't like the thought of people at uni finding out about personal problems, but everything is confidential and these people can help. It's better than struggling to cope on your own.

To the person that told him to stop feeling sorry from himself:
- that's not something you say to someone who is suffering from depression. Depression is not something you can control. I'm sure he'd love to sort things out and get on with things, but his illness will be stopping him. You feel yourself wanting to get help and get better, but something inside you makes this near impossible. Some days you won't want to get out of bed, and people think you're just being lazy or full of self pity, but you really can't do it. He's probably not intentionally feeling sorry for himself. I find it upsetting that there's still this stigma towards any mental health problems.

lovemystudentloan

Hey Ryan, big love to you, you've done really well to reach out and ask for some help and that's the way you have to keep going. Ask for any and all help that's going because you need it and that's what it's there for. I know it's not very reassuring just now, but this will pass. You know it will because everything passes, like when you went to sit your GCSEs and your A levels and you worried yourself sick, but it all worked out alright. And don't worry about your grades. They may not be as good as you'd like but you are suffering from a genuine illness and you cannot help that. I hope your Dr is looking after you and if not, go back and tell him you need help. If he has prescribed you anything take it and stick with it, it may take a few weeks to kick in but when it does it will be worth it. You need to get your health sorted out first. You can e-mail your banks and tell them the problems your having and they will help work out a loan repayment with youand give you a bit of breathing space. Also you're very conscientious about going bankrupt. I always figured if I was going to go bankrupt I would get a loan for a silly amount of money, blow it on having a really good time, and then go bankrupt, so your worry is very commendable! And as everyone else has said, see your student advisor! Immediately! Grades and money are most definitely not everything. your health is invaluable, so get your depression sorted first. Perhaps later you could transfer to a different uni somewhere cheaper to live. Big hugs to you Ryan XXX

freebie_junkie

hi, from one student and sufferer of mental health and family problems to another, you really need to get yourself together and decide that youre gonna face it, one day at a time and one 'brave' challenge at a time.

your first challenge could be to go to the welfare office! there is absolutely no shame in it (unless you think that several people here on this forum are 'spongers'?!) and it will really help you out, you need it.

good luck and remember - be brave!!!