Introducing Myself and asking for a bit of advice :)

[Deleted User]

Hi everyone

Been reading on here for a while but only just plucked up the courage to join I am a 22 year old finished at university and hopefully working my way up through a large car retailer. At Uni I, like may other students, abused my student overdraft to live a hectic lifestyle and now find myself in debt. Enough is Enough now and I want to get out of it by Xmas 2012!!

Firstly I have become part of the pay day loan roundabout. I find myself lending around 800 pound each month just to cover the cost of the last loan. My first step is to open a co opoerative cash minder and have my wages sent to this account, then offer Wonga a payment plan of 100 pound per month? Is this the most sensible thing to do?

I owe £900 to the student loans company for a student grant over payment and wish to pay this off at £100 a month also, although they have asked for the whole amount in full, is it unreasonable to ask them for a payment plan?

My current income is around 1076 per month and I see most of this monry going to payday loans.

Has anyone got any other advice? Sorry if this is all abit jumbled I am very new to this!

Thank you and I hope you all had a great xmas!!

[Deleted User]

I got overpaid a grant of £751 - offered to pay them £30 a month they quite happily accepted that.

As long as you pay something then its fine.

Once I have my credit cards paid off that payment will be increased but its interest free so no point paying more to that at the moment.

Good luck

Dxxx

[Deleted User]

Deleted_User wrote: »

I got overpaid a grant of £751 - offered to pay them £30 a month they quite happily accepted that.

As long as you pay something then its fine.

Thank you, I have emailed them asking if I can pay £50 a month so hopefully they will accept that and I will stop getting letters off them!

curlytop12

welcome to wonderful MSE world.

great idea re.new account and payment offers.

would you like to do a "statement of affairs" to see in anyone can help your monthly budget?

there is a template in the stickies on debt free wannabe,think about 6 lines down,

someone will come along and post a link for you i am sure..........:j

Lemon_Tree

welcome to the boards, you'll no doubt find lots of helpful advice and people on here.
There's barely one of us who hasn't gotten into debt and felt silly about it but with the people on here and some hard work you will be able to get free of the weight that debts are hanging around your neck.

my first advice is that before you offer payments to people you need to draw up your budget so that you know what you can afford, you don't want to dig yourself in deeper by not having all the information to hand.

[Deleted User]

Hi people just had a reply off quick quid. Didn't go aswell as I would like. Below is the reply


"We received your email regarding your !loan balance of £312.50 and your situation has been noted. Unfortunately, we are unable to set up a monthly payment arrangement for £50.00; however, you do have the option to contact us to make your payment(s) when your funds become available. Unfortunately, with this option, collection procedures will continue until an acceptable payment arrangement is made. We apologize for any inconvenience or frustration this may cause."

What would any of you advise?

RAS

Read saltnvinegar's excellent thread and follow the advice https://forums.moneysavingexpert.com/discussion/2735257.