£25,000 in debt, no job and for emergency reasons i have 2-3 months to pay it off

G83JD219

First of all im 23 years old. So I have no idea how this all happened so fast but a family member asked me for some money as it was an emergency situation. It was a close family member so I trusted that person. I lent them my credit card for £10,000 and they used every penny of it. They disappeared and now its down to me to pay it off.

Second of all I have £2000 in payday loans which are due by the end of this month which im not sure how i'm going to pay off as I currently don't have a job. I had to leave my previous job and leave the country for a few months in an emergency so now i return with nothing but debt.

I live with my parents so i don't have any expenses but they cant financially help me as they arent in great shape themselves.

On top of that I had to borrow £5,000 from a close friend which i promised to pay off by the end of this year.

As well as a few other loans such as student finance, and other purchases.

The total adds up to £25,000.

My issue is, I can't consolidate the debts and pay off £400-500 a month which would be the perfect option to me because how do I explain I need to pay off a debt to a friend? Can I include debts like that in my consolidation?

Also, if this is the case, how do i go about consolidating debts? What are the more popular companies?

Thanks

TadleyBaggie

If you have no job, I assume that means no income. So no one is going to lend you more money.

[Deleted User]

You can't consolidate. You will get no further credit.

Speak to the creditors and arrange payment plans with them or consider a formal DMP.

Make separate arrangements with your friends

DCFC79

Oh and get yourself a job, any job, a Mac job would be enough, work 2 jobs if it will help.

Even if you can repay the £5k to the close friend and maybe pay off some of the £2k payday loans.

TadleyBaggie

What happened to the £30K you had 2 years ago to buy a house?

https://forums.moneysavingexpert.com/discussion/5175820

The_Real_Cheddar_Bob

troll perhaps?

Geoff1963

I don't see the need to pay off £25k in 2 - 3 months.
A job is the first thing to get, ideally with unlimited overtime ; it brings money in, and you'll be so worn out that no matter how bad you are trying to worry, you'll sleep like a log.

Gambler101

Seriously is the OP really thinking they can get a £25K loan with no job or income.

BorisThomson

TadleyBaggie wrote: »

What happened to the £30K you had 2 years ago to buy a house?

https://forums.moneysavingexpert.com/discussion/5175820

Lost a year in age too!

adindas

TadleyBaggie wrote: »

What happened to the £30K you had 2 years ago to buy a house?

https://forums.moneysavingexpert.com/discussion/5175820

BorisThomson wrote: »

Lost a year in age too!

And a finance student using the term debt consolidation when in fact adding more debt.

:rotfl::rotfl::rotfl:

Is it what the student in finance being told nowadays ?

Do not feed the troll

DCFC79

adindas wrote: »

And a finance student using the term debt consolidation when in fact adding more debt.

:rotfl::rotfl::rotfl:

Is it what the student in fiance student being told nowadays

Do not feed the troll

I wonder which uni the OP is a graduate of ?