Please help w/ debt problem...

Alfred_Borden

Thanks alot RAS, and that's great news elfen. Did you go through uni finincial services to sort out the token payments, or go direct to your bank? And I'll be sure to enquire about hardship grants, and unfortunately, my overdraft is as high as it can be for my student account.

katsu

What do you have to ebay/sell? Any old textbooks you no longer need? Amazon has netted me £30 profit for 3 textbooks (books are from the last 5yrs). My old uni had a 2nd hand bookstore that took your books and paid you some of the money.

Can you take a cleaning job? Security? Supermarket shifts? Bar work? Things like these may have hours that fit around lectures. Try agencies around the uni area or try your uni to look for suggested jobs.

Contact the uni and find out about grants and their hardship funds.

Go see someone in student support on finances - either a uni employee or someone via your students union.

For advice on your situation if the above does not help then only use a free organisation - people use CCCS, Payplan, National Debtline or Citizens Advice. Do not pay anyone - you have no money and no need to.

katsu

token payments are a thing you give to the person you owe a debt to. On this board if you search for token payments letter, or on the National Debtline (I think) website, you will find a template to go with the token payment which you can send to the CC company.

elfen

Alf, I went through the DCA themselves. Got the number, phoned them up, said I wanted to set up repayments, told them my measly income and got it sorted.

Alfred_Borden

Who do you mean by DCA, the debt collection agency? As in the company they hire to follow up and collect the debt? In my case, that would be a group called Moorcroft.

Token payments is something I should look into, but I'm worried the interest will keep rising as I'm paying a small amount. Is there anyway they would freeze the interest? Who can I contact to help me with this?

Nargleblast

Alfred, I am afraid you cannot force your creditors to stop adding charges and interest but maybe Citizens Advice or one of the debt counselling charities might speak to them on your behalf. Eventually creditors do end up freezing the account and often sell it on to a third party to cut their losses - this is often to your benefit as all charges and interest stops there if not before. Crack on with the letter to Moorcroft asap and that will get the ball rolling.