Debt Craziness - Really Worried :(

neas

NoCreditLifestyle wrote: »

I know I don't want to pursue any education right now, as I really do think I have enough experience to get myself into a good job, there is no point in me spending money on professional development, as my salary increase afterwards would be negligible.

This has really got me down though, that nobody sees a way for me to get credit to move to London. If I can't get that credit, it means I have to take a local job, which means I have to get a place here, which will be a 6 month rent. All of this would mean I couldn't pursue the career in London.

Is this my only option?

Some good companies pay expenses for interview (I know mine did).

Whats wrong with the SW job though.

You do realise a SW job at 28k is prob equivalent to a 'london' job at 33-35k anyways? Taking into account living expenses of london.

NoCreditLifestyle

neas wrote: »

I think deltawing makes some good points also. I'm just an Engineer and so only have experience with CV writing and the likes.

CVS these days list quals near the bottom with emphasis on experience (embedded with skills)and major achievements first. For example implementing a product/development that saved your company 100k would be a nice one to put on a CV. or Lead Engineer for say an £X Mill programme would show the level you are working at.

Point is on my CV at least my quals are at the bottom... But I do sneakily put my name followed by my qualifications/certifications.

I don't want to contradict what i've said earlier but want to clarify. GCSEs are useless if you have A-levels...A-levels are useless if you have a degree... degree is useless if you have s PHD. Chartered Status is a plus to those (degree/phd obviously :P).

Having a Degree shows you have gone through a structured programme of learning. When I learnt to program (Not my day job :P) I learnt in any ways I could to achieve a task. More often than not it was a 'hack it and crack it' job... It did not do any of the following:

- Employed the most efficient use of code (i.e. first way to make it work etc)
- Adhere to Coding Standards (structure,commenting etc)
- Adhere to Safety Standards (some software is safety critical e.g. Automotive/Aircraft)
- Employ formal methods of Software Development (Requirements, UML etc, Formal testing (High Level, Low Level, Module etc etc)
- Follow any normal software development structure.

It didn't follow any of this because I didn't have the foggiest what those things were. I could code...I could make something work but could I code well and prove the code worked and had no bugs? nope. Thats what an education partly is for. To show you have the capability to learn the basics and the aptitude to continually learn (to keep up with new tools/processed/languages). You learn some of it on the job as well though.

Degrees aren't necessary if you are a genius and passionate about what you do so you have learnt the 'formal stuff' because you love your subject area. If like me you aren't a mega genius then a degree offers structured learning to give you the background and evidence to move forward.

But I really wish if you are as good as you say you are you get the chance to prove yourself... as it would be a shame otherwise. Would really recommend you do a degree part time when you get settled thogh as in the future employability will be easier (not impossible without though) with one.

Neate, I agree with you completely. The list you wrote of what you didn't learn from self-teaching yourself are all things I am competent at. I can write secure, efficient, formally tested code, and have a good knowledge of agile and SDLC, I write good OO code, well structured, commented, and well styled. So I always pass any technical/code test. Yeah, I do write about a few key achievements, such as rescuing a hacked online shop with a turnover of 500k+ among some other good achievements.

For the first time in my life though, I think I do want to pursue a degree part time, if only to get some extra letters on my name, once I have myself sorted and happy.

NoCreditLifestyle

5t3ve wrote: »

If you've been offered a 28k job locally, then take it - get yourself out of debt, and then consider the move to London. London is one of the most expensive places to live in the country - so you really need to have some money behind you before you consider the move. For example, if you're going to rent a flat within reasonable distance of the city - expect to play over £800+ a month on rent and council tax - with a 3 month deposit just to secure the place.

By the way - I live and work in London in IT - 40k a year for an 18 year old without any qualifications is unrealistic. I don't mean to be harsh - but it's important you don't get led along with unrealistic expectations.

Yes, I know the living expenses are huge, and my main reason is to be in the city, I used to live in Chicago and loved it, now, being in Devon...it is horrible. But the 28k job is in the 2nd biggest city here, so I think I really have to consider this as a solid option.

neas wrote: »

Some good companies pay expenses for interview (I know mine did).

Whats wrong with the SW job though.

You do realise a SW job at 28k is prob equivalent to a 'london' job at 33-35k anyways? Taking into account living expenses of london.

As above, it's really about being in the city.

I already confirmed the Thursday interview, and I think I'm going to have to now explain to either the recruiter or company that I will be unable to attend it, and explain to them my reasons, is it worth actually explaining it, to possibly get some sort of pity help from the company, perhaps remote interviews followed by remote work until I can afford the relocation, or make it clear I will require relocation costs or it will be impossible?

neas

The letters are just that... letters . Like any qualification they just prove you are at a certain level. I guess programming has a different chartered body maybe BCS? I'm with the IET and to become Chartered a Masters Degree was handy... Not fully requred but the journey to chartered was a lot easier for me.


Sounds like you know what you talking about and really thats all that one needs...

I'm off to bed but I leave you with one last thought.

Successfull people are often risk takers who do things that others disagree with (like all of us in this thread). If i was you I would try and find a way to get to London.... It may be that its expensive it may be that now its similar to SW... BUT if you are as good as you portray then it would be a stop gap (3 year job jump anyone? ) to further salary increases.

Whats it cost to get to London? £50 National Express? Or cheaper on Megabus. Assume you already got suit? Try couch surfer for accomodation and just get your interview done... If it doesn't work then you know you tried, take the SW job get some cash then resume London seaarch.

NoCreditLifestyle

Wow, I feel fantastic this morning, stayed up till 4am watching Jon Snow's dispatches report on 4od about the banking scandals, disappointed they're only ever 30 minutes now...

Wait, now I feel even better! Not only is the coffee kicking in, but I just logged onto creditexpert to take a look, and my credit card is suddenly "satisfactory," and my loan hasn't been updated yet! My current account is apparently 1 payment late, which it isn't -- 'Balance £0'... no overdraft.

Anyway, the real reason for my new found happiness is I did the CCCS debt remedy, and found that if I take the job in Exeter, I can repay the debts in around 4-5 months with using the majority of my disposable income on it. I also realised my car payments are significantly reduced, because Experian includes the balloon payment! (car is financed on personal contract purchase.)

So my debts actually stand at a much more reasonable:

Loan:
Total: £1544.48
Monthly Payment: £193.06
Next Payment: 1st August 2012 (if possible)
Last Payment: 1st March 2013

Credit Card:
Total: £1774.11
Monthly Payment £150.00, until 1st March 2013, then add loan contributions to it - £343.06
Next Payment: 1st August 2012 (if possible)
Last Payment: 1st May 2013

Hire Purchase:
Total (excl. final payment): £5155.70
Monthly Payment: £171.82
Next Payment (in arrears 1mnth, 1st August 2012)
Last Payment: 15th December 2014 = New Car Date!

I will be contacting HSBC to explain my situation, and the day I start that job I will be using the 'I am tackling my debts, therefore give me 1 month to get things sorted,' and by then, I will have the money to pay up all the arrears (as I will be living at home.) I can then, when my mother kicks me out, move to the local city, and start saving for London!

Anybody see any flaws? :j

19lottie82

unless i've missed it, im suprised that no one else has missed this no brainer........

sell the car! this will reduce your outgoings, allow you to pay off some of your debts and finance your move.

will you really need one if you're moving to London anyway?

AND £100 for a mobile phone?! if this is for an iphone / ipad duel contract or something (still seems high tho), sell them and use the cash to pay off your debts / finance your move.

NoCreditLifestyle

19lottie82 wrote: »

unless i've missed it, im suprised that no one else has missed this no brainer........

sell the car! this will reduce your outgoings, allow you to pay off some of your debts and finance your move.

will you really need one if you're moving to London anyway?

AND £100 for a mobile phone?! if this is for an iphone / ipad duel contract or something (still seems high tho), sell them and use the cash to pay off your debts / finance your move.

Just sold my iPad (all paid for.) And I can sell my unlocked iPhone 4S (bought direct from Apple, see I used to be good with money ) when my contract is renewed and I can get an upgrade to the new iPhone 5 (when it's released.) Sorry, I really couldn't imagine/bear selling my iPhone...just not happening.

Car is bought on PCP and in negative equity, decent car, 2010 vw polo 5d.

Thanks for the ideas though.

I just absolutely went mad at the bank, they've added missed payments x2 to my experian, say I miss a DD payment to my loan, they add a late payment to my loan, and a late payment to my current account for the returned DD. They !!!!ing sicken me, I am going to write to their CEO (already talking to FOS about a final notice about not giving me £600 in bank charges, awaiting the banks response to the FOS then they will write back to me.) asking them to remove the markers on my account, and going to speak to them about my credit card when I can stomach it.

Thanks for all the support guys, love this forum so much, and feel so much better in just one day! :money:<3

eyeopener2

Have you missed a payment on your loan? and your in arrears on your car?

NoCreditLifestyle

eyeopener2 wrote: »

Have you missed a payment on your loan? and your in arrears on your car?

I was late on my loan payment, but I caught up now and it is down to 1544.48, with 8 payments remaining.

I am in arrears on my car 1 month, tried calling today but office closed. I'm going to call them tomorrow and explain my situation, and come to some sort of arrangement. Insurance is the one I'm really worried about because they could simply cancel it... will talk to them too.

19lottie82

NoCreditLifestyle wrote: »

I can get an upgrade to the new iPhone 5 (when it's released.)

so you're thousands in debt and you're talking about taking out a new £40 a month phone contract? smart

also, im a bit confused. if you bought your phone direct from apple, why are you stuck in a £100 a month phone contract?