Threatened with Court, what do i do?

edinstudent

I am a 20 year old student, and because of some mistakes and mainly immaturity, I have managed to rack up approx £6,500 of debt, including overdue rent and student overdrafts i have gone over the limit on.

I now have 5 different letters from 5 different companies all stating they wish to take me to court to get the money. I work part time whilst at uni and barely am able to cover my bills per month while at the same time incurring charge after charge.

My credit history is so poor I can't get a loan without a guarantor and unfortunately i know no-one who owns a house, and the few that do won't help me. I am close to being evicted if i don't pay my rent and can't really afford to move elsewhere.

I'm really at a loss and constantly stressed and i don't know what to do. This can't happen to me so early on in life, all because of a few silly mistakes.

Please help me and give me advice someone cause i'm really, really stressed about this.

Thanks in advance.

tealady

Right. Rent HAS to be your priority. Can you ask your colleg or Uni for a crisis loan to clear the arrears.
As for everyone else well they can't have what you don't have.
If you post your full SOA (sticky at the top) we can give you some advice on the best way out of this.

fatbelly

edinstudent wrote: »

I now have 5 different letters from 5 different companies all stating they wish to take me to court to get the money. I work part time whilst at uni and barely am able to cover my bills per month while at the same time incurring charge after charge. .

We call them threatograms. Don't panic about them. Post here IF you do receive a court claim but my bet is that it won't happen.

As said earlier, do a SoA using this calculator (format for mse) and post it here.

P.S. Please don't even THINK about a guarantor loan.

david_hellier

Consider bankruptcy. At your age, if you have no assets, it could be the best option to start afresh......and maybe not get into debt again?

RAS

Get hold of your Welfare officer in the Union and the University and see if you can get a crisis loan or hardship payment to cover the rent.

With respect to the rest, please open a new basic bank aco!!!! into which you put all your income and organise soS FOR THE RENT FROM NOW ON.

fatbelly

david_hellier wrote: »

Consider bankruptcy. At your age, if you have no assets, it could be the best option to start afresh......and maybe not get into debt again?

Scottish Law - have a look at your options here:

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=01_bankruptcy

RAS

Scottish law is different and we do not know whch jurisdiction applies to the debts.