19 year old in NEED of help!

SamanthaA

Not a lot of help, but just remember what these "friends" have done & how much of trouble your in cose of them - make it your life`s work not to repeat this financial period in time!

The lesson they teach you will make you a far better "money" person in the future & remember "what goes around, comes around." And in my experience - Karma`s a butch!

Loanranger

Dean, do you live at home?
If you're renting could you give up your flat and return home?
You mention ringing your Dad so am wondering if you are living away from home.

Is the car owned by you or is it a family car that you pay something towards?
If it's yours, can you sell it?

You have a legally binding contract with the bank and accepted their charges when you took on the contract. You may ask them to look again and try to negotiate with them. I'm not an expert and have no experience so can't advise you of your chances of success.

But, the contract you have with the bank is this: you spend your money not theirs and you don't pay anything for their services, the security of your money, their handling of your salary, the convenience of direct debits, the provision of their IT systems that enables all of this and branches and the cash machines they provide for you to withdraw your money, the staff required to do this and so on.
As soon as you step outside the confines of the contract and start spending their money without their permission they are entitled to charge you. If you don't like the penalties then don't break the rules.

You need to take responsibility for everything that has happened rather than looking for scapegoats to blame and ways to not pay the bank and to make money by betting. Your decision to buy the phones for your friends; your decision to take loans off family and friends; your decision to run a car.

Having a car at 19 on a minimum wage is madness even if you only pay a share of the car to your parents.

De4noVincent

I do live with parents, and I'm a named driver. I need to be able to drive as I'm an I.T Technician, have to travel to other centres etc. I know it's all my fault, but I'm learning, I'm just wondering if there is a way.

intranicity

Hope you get this sorted mate, My daughters your age and I'm forever asking her if everything's OK to make sure she doesn't fall into this situation, hats off to you though for having the 'balls' to be facing up to it now. Your credit file will be a wreck, but 6 years time you'll still only be 26 and I bet you'll be in a much better place and situation than your so called 'Mates'!

PS, Where abouts in the country are you, I could do with a valet on my car and the garden needs digging if you're local

Loanranger

De4noVincent wrote: »

I do live with parents, and I'm a named driver. I need to be able to drive as I'm an I.T Technician, have to travel to other centres etc. I know it's all my fault, but I'm learning, I'm just wondering if there is a way.

Does your employer require you to provide a vehicle to get to other sites? Can you claim mileage allowance and how much per mile?
Have you informed your insurance company that you use the vehicle for business use?

If at all possible you should shift the costs of the vehicle to your employer. You should not be expected to provide a vehicle for your employer's convenience, particularly as they only pay you the minimum wage.

Hannah_10

Dean some of the hardest issues to help people with are the ones when the debtor is young. Young peoples debt problems are usually less serious than people in thier 50's say, because you plain haven't had time to amass a 60k debt or a financed car with 10k more owing than it's actually worth. You don't have 2 kids and a mortgage to complicate everything either. Nor are you a solicitor, accountant or baliff who would lose his job if he took certain steps. Young people tend not to have run up "priority debts" like council tax or electricity arears and you haven't got any. Looking at what you have told us so far your situation *should* be quite simple for us. But it isn't, because you're not helping yourself.

With the best will in the world mate, you need to stop and listen. We can tell you how to help yourself, but it isn't going to fix anything overnight and you have got to just accept and not keep looking for a quicker, more inventive idea. We ask you for a list of your debts because we need it. Without it we might as well pick a solution from a hat. I'm sure your Dad is an awesome bloke, but he clearly doesn't have RAS's technical knowledge for example or DancingFairy's personal experience. You see what I mean? We can teach you how to fix your financial situation properly and for good, so that you will be safe from any unneccsary consequences (like court/baliffs/seriously damaged credit files) and everything else... but you have got to play the game or we can't even get started. Can we have that list please, or not? You don't have to tell us, it's a free country, but if you don't then we can't help you. It's your life, you are free to decide as you see fit.

Twister84

Have you spoken to your Natwest branch? If not, ask them to put you through to the Collections team - they should be able to set up a Payment plan based on your income and expenditure. Also ringing from the branch won't cost you anything.