in debt and panicking

squigglette

I'm in debt by around £5000, I know this may not sound a lot to some people but it is for me,
the majority of my debt is with natwest £3600 the rest is with HSBC which I'm paying off slowly. The problem really is with Natwest, I've sent them proof of incomings and out goings (I get paid fortnightly JSA) I'm left with £38 per fortnight after paying for food ect, I pay the £38 to HSBC to get that one problem out the way, yet all natwest keeps doing is sending letters threatening to send my case to a DCA, (great just what I need)
They seem to be blanking my letters and I have even sent the letters recorded delivery so I know that they have been recieved.

Can someone please advise me on this, I'm literally losing sleep over this.

My accounts became overdrawn whilst on a spending spree, which I'm ashamed to admit now because it's nothing but sheer stupidity,
What can I say... I'm a student.

alwaysonthego_2

You need to visit your local cab who will be able to help you. You need to tske your paper work and have your income details. http://www.adviceguide.org.uk/d_budget_sheet.pdf in fact if you print off the following budget sheet and take it with you. Don't worry it can be sorted

angelavdavis

Hiya and welcome to DFW,

Well I guess the first step is to examine what your outgoings are so the good folk on here can assist to highlight any areas you could make savings.

You will find out how to complete your statement of affairs here.

I suggest you go through your income/outgoings and detail here so the good folk on here can suggest ways you could save (although it sounds like your outgoings are really low?)

Have you been paying Natwest anything during this time? Although I understand your wishing to get rid of the HSBC debt (which is lower I guess - perhaps you would like to detail this amount on the SOA too), you should split your money between the two. Although it won't stop Natwest sending letters, it will slow down the progress of going to court potentially.

What have you been doing to try to obtain a job?

CCCS_Emily

Hi Squigglette,

Try not to panic there are plenty of people here to help you out!

When you are making reduced payments to creditors it it standard practice for them to pass you debt onto DCA. Just make sure you keep on top of your post so you know where you debt is. Also bear in mind that most of the letters you receive from creditors are just computer generated, not written to you personally, so try not to take it that way. Easier said than done, I know.

You could also have a look at Debt Remedy (www.cccs.co.uk and follow the links) to find out what options you have. You need to deal with your debts as a whole really, so they all get their fair share of what ever you have left.

Keep us posted and good luck.

squigglette

Monthly Incomings:

My Money (benefits)- £236

Extra Money - £80 (from my dad)


Total - £316 per month Not much eh

Monthly Outgoings:

Mortgage/Rent - 0 (for now)
Phone and broadband - 33.00
Food - £100
Bus Fairs - £38
Food at college £40 per month

Total: £211.00

left over £105 per month

I'm at college
I look for part time work all them time and have even signed up to several agencies. and have even asked around the college as I know they often look for cleaners.
sharing the money out between the two hadnt even crossed my mind,

squigglette

I think I've just been doing what some others way have been doing, just burying my head in the sand and hope the problem goes away, but it wont go away and now i need to do something about it.

C_Ronaldo

squigglette wrote: »

Monthly Incomings:

My Money (benefits)- £236

Extra Money - £80 (from my dad)


Total - £316 per month Not much eh

Monthly Outgoings:

Mortgage/Rent - 0 (for now)
Phone and broadband - 33.00
Food - £100
Bus Fairs - £38
Food at college £40 per month

Total: £211.00

left over £105 per month

I'm at college
I look for part time work all them time and have even signed up to several agencies. and have even asked around the college as I know they often look for cleaners.
sharing the money out between the two hadnt even crossed my mind,

Can you not get the internet and phone cheaper, i see you spend £100 on food and then £40 at college for more food, try taking sandwhices made at home, you've finished college nw havent you, could you not look for a full time job just for the summer (whats left) or a prt time job,

findingmyownway

If you are a student, how are you claiming job seekers allowance??

squigglette

I'm a part-time student, the job centre advized me to go part time else I'd get no money at all, hence why I am searching for a job as well.

I'm going to go back to the agencies on Friday as thats when I finish college for the summer,

Broadband - I've just changed broadband provider so dont think I can leave them yet, I could ask my mum to help towards the phone as she uses it too, (I'm too nice for my own good at times)

x_raphael_xx

Hi, I second C_Ronaldo that £100 plus £40 is a lot of money for food. I usually spend around £80 a month for me and my dog a month.
What exactly does the college give for the £40? Is it cooked dinners or just cold lunches?

Try to drop your own shopping bill, challenge yourself to say £80 a month, then drop it by £5 the next month if you can manage it. And like C_Ronaldo said, bring your own food to college.

Robflh

Hi squigglette

Firstly, do not worry about the debt. I know that is easy to say and very difficult to do but worrying about it will do nothing to help you manage/remove these debts nor will it help you to find the money you need. However, worrying about it can very easily make you anxious and or depressed.

Secondly, what exactly are the two debts that you have? (Loans, overdrafts or something else). What are you supposed to be paying each month for these debts?

Thirdly, if you no not mind me asking, where are you living? (Bed-sit, flat, house, or with mum).

Fourthly, how far are you travelling by bus to get to the college or the Jobcentre?