Need Advice Urgently

tarici

Hi all,

This is my first post on the forum, I have most of the time just browsed around and read the posts on the forum for over a year, but now I guess it’s my turn... so I'll get to the point.

I am having problems managing my debts, & my credit rating is absolutely atrocious. I currently owe £7900 approx all over the place and if you include my £12000 Student Loan that increases it to just under £20K.

All these problems pretty much started when I became a student.. First my Lloyds TSB student account with the maxed out £2500 od was not changed to a Graduate account after my graduation, instead the bank removed the entire od and asked for me to pay it back..which I am now paying at £10 p/m (I know its not much!!) However they advised me they have frozen the interest, but that is not the case and are charging me over £60 p/m so I am just accumulating more debt with them.

I also had to resort to a student credit card with them as I had no funds to pay for my Uni fees. That is at about £700 with an APR of 27.9%

And other debts include HSBC od and Credit card which again amount to some of the debt, sufficed to say my debts are all over the place.

I have wanted to try and consolidate all the debts into 1 loan to try and pay them off, but because of my really poor credit history I am unable to get one unless its about 50-177% APR and I am not going down that route.

Please could someone give me some advice/guidance as to how I can pay this off?!!

trying-very-trying

Hi! tarici, and welcome. You've made a start by recognising your problem and posting this thread. Don't consolidate your debts, that very seldom works from the postings on this board. There will be more better qualified people along shortly with loads of good advice. You will need to post a SOA before anyone can really help you.