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Newly qualified and in debt!!
kb2010
Posts: 4 Newbie
I'm newly qualified and have a full time job which I m yet to start. I have a maxed out student overdraft, catalogue bill and a loan for a car of over £4000. Problem is, I didn't get a student bursery in my last month of training, and I have to work a month in hand before I get paid. I ave tried to borrow off family member to covers my bills, but it's too much. My creit rating is awful, and the company I have my car loan with wont let me suspend my paymet, and the catalogue comapny won't either.
I just don't know what to do
I just don't know what to do
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Comments
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Right well whatever you do, do not get a payday loan is the first thing.
The second thing is what are you paying on your car loan, and is it a hire purchase agreement or a loan organised by a lender?I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
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It's a hire purchase loan through the company we go the car from0
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When can you earn some money?0
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Being a bit more exact about this, how long until you get paid again?
I'll tell you what I'm thinking- defaulting ont he loan for the money to feed yourself would be the first most obvious idea. Then in the longer term put your SOA up (click here for what that is) and we'll see what can do with the overall picture. Loans come AFTER the food shopping Hon, not before.I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
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They can't have it if you don't have it hun, as Hannah said food has to come first.
((hugs)) I know exactly where your coming from, i'm in the same position, all our bills have come out and there isn't much left for food at the mo!!!was Proud to be dealing with debt! LBM 12.09.09 [STRIKE]£23,157.76,[/STRIKE] 28/03/11 £12.827.07:eek: Not quite sure on debts now as kind of gone by the wayside but back on form now! Will edit as i figure them out
Hsbs CC £5313.73 Overdrafts (3) £3173.84, Marks and spencer CC £0
AA CC £3400.180 -
If your credit rating is shot a couple of later payments wont hurt. Creditors wont help, but if you dont pay on time theres very little they can do apart from mark your credit record as a late payment.
Personally I would write a letter with a cheque for £1(send monthly till you receive enough to catch up) informing them that you have just started a new job and will catch up asap, they shouldnt default you unless you miss 3 whole payments. Any charges they add are unlawful and cant be reclaimed at a later time. 0
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