first big step....

joe-bloggs1_2

Hi, ive been reading these forums for the past few weeks now and finally plucked up the courage to post my situation and hopefully pick up a few tips.
Ive been seriously stupid with money for the past 18 months and managed to get myself into debt by around the £5500 mark.
The thing is, im 21 and a full time college student. My current only source of income is delivering chinese meals monday-thursday, which probably makes me around £100-120 a week (after ive deducted petrol costs). I have been getting by.... just. But its a massive struggle.
Im approximately £1900 into my planned overdraft, £2500 on my tesco credit card, £700 on my bank credit card and i have a personal loan coming out monthly at £94 ( which is due to end roughly july/august time) add my monthly phone bill into the equation at just under £40 a month and im in a sticky situation.

Ive spoken to family members, but no ones in the position to help me out at the minute.
Ive been selling what i can on ebay and having the odd carboot when possible.

I dont see any other way than to drop out of college half way through my final year and get a fulltime job.

Anyone that could throw a few helpful tips my way, would be greatly appreciated. I know deep down im worrying wether ill see the next month out or not, but at the same time im trying to keep a calm head and not lose grip of the situation.

I got myself into this mess and im determined to get myself out of it.

nifferwilko

Firstly well done on finding the courage to recognise your debts and deciding to do something about it - that's the scariest part!

If you post a statement of affairs [http://www.makesenseofcards.com/soacalc.html] some more knowledgeable people than me will be able to offer some advice!

[Deleted User]

Do not drop out of college, especially in your final year! You only have another term to go now and hopefully the qualification will come in useful for finding a good/better/any job in the future!

As ^^^ says, post your SOA and try and trim costs in other ways and the £90-odd quid loan payments which end this year can then go towards other debt payments. There's always a way, even if it means beans on toast for a n umber of meals each week lol!

Sammy246

You have come to the right place and well done to you for seeking help...there will be lots of people popping by your thread to give you great advice and tips to help you through...all I would say is don't drop out of college specially as it's your final year!!!

Good luck!!