Umm i might be the youngest person here in debt !!!

Zude

Hey,

I just turned 18 (2 months ago) and im currently in £13,765,48 debt and i currently have a debt company after me for it i moved home which i know is wrong but im unemployed and im streesed out with this as its allways on my mind im just looking for some advise on what to do about it ??


Regards,
Mr A

p.s. Admins if this is in the wrong section of the forums please forgive me and move it to the right part !!! thanks

sparklymessygirl

Mr A,

Welcome to the DFW boards :beer: You look as if you have been lurking for a while since joining? Hopefully you have picked up some good tips and have now had your lightbulb moment!

You need to provide some details in the form of a Statement of Affairs with your income and outgoings and the debts, payments and rate of interest. Perhaps explain how you got into so much debt too.

Sounds like you also need to contact Debtline or CCCS too when you have got all your info together.

Tell us about your unemployment situation/ qualifications too and what kind of jobs you are applying for etc.

Good luck - at least you are facing your debt.

Sparkly

loopyloulou_3

Hi Zude, you are in the right place for help and advice, and I am sure there will be plenty of people here (more experienced than me!) to help you.

Well done for taking the first step and admitting you are in debt and need to deal with it. I too was in debt at the age of 18, but instead of doing something about it then, i let is spiral and its taken me til the age of 25 to realise I need to get myself Debt Free!!

Chin up, and welcome to DFW :-)

Zude

sparklymessygirl wrote:

Mr A,

Welcome to the boards :beer:

You need to provide some details in the form of a Statement of Affairs with your income and outgoings and the debts, payments and rate of interest. Perhaps explain how you got into so much debt too.

Sounds like you also need to contact Debtline or CCCS too when you have got all your info together.

Tell us about your unemployment situation/ qualifications too and what kind of jobs you are applying for etc.

Good luck - at least you are facing your debt.

Sparkly

Hi sparklymessygirl,

(SOA BELOW)

The big part of the debt was a from a company i bought alot of stuff from which is not a credit agreement. but in there terms and conditions of sale that ie. the stuff is owned by them until they recieve full payment.

Since ive left school ive not able to get a job i left early due to the date my birthday i could leave months before everyone else did i dont have any standerd grades (due to was in hospital ill at the time) so im finding it really hard plus this debt is driveing me nuts i feel like going and jumping off a bridge to tell you the truth but i wont anyway.


Hope this gives you a little insite into my life.

Any advise would be greatly welcomed.

Regards,
Mr A

overbudget

Zude wrote:

The big part of the debt was a from a company i bought alot of stuff from which is not a credit agreement. but in there terms and conditions of sale that ie. the stuff is owned by them until they recieve full payment.

What sort of stuff? Do you still have it? Could you return goods to cover debt?

Zude

overbudget wrote:

What sort of stuff? Do you still have it? Could you return goods to cover debt?

I cant really say but it was stuff for the home and i cant return any of it due to i dont have it (sold it)

Molanole

Hi there, welcome to the debt free wannabe board. There are loads of people on here who will be able to give you some real advice on what to do but to do so we need to take a look at your full SOA (i.e. completely breaking down all of our outgoings, oustanding debt amounts, monthly repayments etc etc).

Take a look at Southern Scouser's sticky for first time posters which should give you an idea of what a full SOA looks like:

http://forums.moneysavingexpert.com/showthread.html?t=107280

Don't panic. Once your SOA is up we'll all try to help.

ianian99

how did you manage to get in that much debt in 2 months?

Zude

Molanole wrote:

Hi there, welcome to the debt free wannabe board. There are loads of people on here who will be able to give you some real advice on what to do but to do so we need to take a look at your full SOA (i.e. completely breaking down all of our outgoings, oustanding debt amounts, monthly repayments etc etc).

Take a look at Southern Scouser's sticky for first time posters which should give you an idea of what a full SOA looks like:

http://forums.moneysavingexpert.com/showthread.html?t=107280

Don't panic. Once your SOA is up we'll all try to help.

Hey,

Thanks here is my SOA everything i can think of hmm

Monthly Incomings:

Benefits - £280

Total - £280


Monthly Outgoings:

NTL - £40
Mobile Contract (Orange) - £50
Food - £35
Credit Card - £Depends

Total: £125


Capital One (29.9% APR) (Limit £250) (Spent £120)

My space £155 might goto a nights out or something along the lines of that over the month depends i usealy spend £40 on a night out only once a week.

Regards,
Mr A

Zude

ianian99 wrote:

how did you manage to get in that much debt in 2 months?

Ordering too much ?

Glitterari

cancel NTL and mobile, cut up credit card, move back to your parents, get any job you can get your hands on - bar work, shelf stacking - you don't need qualifications for that.

What have you been doing with yourself for the past 2 years since school?