Student in Debt

Student_in_Debt

Hello all, I really hope you don't mind me coming along here with a new diary. I used to read these forums all the time and have now decided to bite the bullet and join as burying my head in the sand is just not working. I have A LOT of debt unfortunately all of which I am extremely ashamed about. As far as I am aware no-one knows about my situation and I would be ever so embarassed if anyone did find out.

A little bit about me..

I previously had a very well paid job and felt I was in a position to take loans and credit cards as I would always have that job and it would be easy enough to pay everything off. Over a few years my job gradually changed until it was no longer anything like what I used to do and I was desperately unhappy. After yet another telling off from my boss I told them where to stick it :eek: which was the worst thing I could have done as I had no job to go to so I spent my whole £3.5k overdraft whilst looking for work. During this time I had a good look at my life and realised what it was that I wanted to do so fast forward a few years and I am now at university studying something which I truly love. However, I never have any money and hate not being able to things my friends are doing.
I hadn't taken out any more finance (until last month) and have repayment plans set up with the companies I have debt with. I get a student loan which covers all my bills but nothing else. I recently started a job which I really love but it is a zero hour contract and at the minute I'm not getting the hours I had hoped I would.
Last month I had to take a payday loan to cover my rent and I really do not wish to be in that situation again which is why I have started this diary. I feel like every thing is in a great big muddle and I feel like I'm beginning to drown in it all.

I have a rough idea how much I owe but I'm going to contact my debt companies today for exact figures and I shall post my SOA later

SiD x

dddougal

Unlucky mate. don't get another payday loan unless you know exactly how and when you can pay it back...Better to struggle on really than get any more debt.

Bex296

Hi! Looking at the SOA is the first step.
If you haven't already tried these, most unis have a finance department and offer emergency/hardship grants, which can be very useful- I benefitted from them at my uni several times. It can be very useful to get you out of a hole. They might even be able to offer you advice and recommend other grants etc. available to you, though it does depend a bit on your situation, for example if you're a post-graduate doing a second degree you might be eligible for less help.
There might also be other little pots of cash available for uni costs, so have a really good google for student bursaries for your town/county. I got about £50 a year for books from a little charity in my parent's town, which isn't a lot but every little helps!