no idea ho to even start tackling this

galahad_

ok first of all, my caps lock is broken, apologies, lol.

basically, i'm in debt. not a lot to some people, about 2k, but for a 20 y/o who is just about to become a student, it's quite a lot.

like, £450 for argos (this is the last time i checked. like, a year ago. made no payments... because i've been so skint) , £500 on my overdraft, £150 with a gym (that's with debt collectors), and i just got slapped with a £600 fine from tv license. a couple of smaller debts also.

tv license has cost me £600 because apparently, they took me to court in july. i didn't go, because i was homeless, and therefore had no idea about it. they sent me a letter saying i need to pay the £600 in full by the 4th october. spoke to them on the phone and they sent me an expenditure form for a repayment plan, but i'm so stressed.

i'm going to be in such a tough stiuation for the next few months - once i get my student maintanence, ill be left with about £500 for the next 3 months after i've paid out what i need to pay. £775 for my deposit that my flatmate paid, £500 to my mum because she gave me it for my months rent upfront, 3 months rent, and then then my money's nearly all gone. i need to pay for travel, food etc.... not to mention that i live in london which makes things more expensive.

i have no idea how to start tackling the debt, i have mental health problems and the thought of this looming over me is making it so much worse. i'm so scared of having bailiffs turn up - if they do, i'm !!!!ed, because i'm in a flatshare. my credit rating is ruined, and i'm not even 21

if anyone can give me advice on how to start facing this, just the thought of it makes me panic. again, i know it's not /a lot/ of debt in comparison to others, but it's a lot for someone who really doesn't have a lot of money at all

any advice, anyone?

Arleen

Heya!

While this may look grim, it's not bad - as you owe little and still have plenty of time to fix what you've broken on your credit file. Nothing is lost, and not being able to take more credit will stop you from falling further down the hole.

The first step to address this is to fill in an SOA, check out the link here: http://www.stoozing.com/calculator/soa.php do not omit anything, it's very important to get this straight as in order to do so you will have to get a clear picture of your financial affairs. Or make it clear that you don't know where your finances are at.

You also need to get a hold of all your debts and get crystal clear where they are at, a threat of bailiffs for such debt is minimal, but not impossible. For that, though they would first need to get a CCJ against you, so start getting the paperwork together to see what's what.

The second step will be getting a job. You owe money but have no way to repay it meaning that you will need income. Given that you don't owe much, you should be able to repay it from working evenings/weekends relatively quickly.

Windofchange

As per above - get a job? The second time I went through uni, I was working about 20 hours a week ontop of the course to make ends meet.

fatbelly

Arleen's advice is good regarding the non-priority debts.

However can I emphasise that your debts are chalk and cheese. The argos debt, the overdraft and the gym debt (even though it is with a collection agency) are non-priority.

The TV licence debt is a criminal fine in the magistrates court and on the verge of being given to a bailiff. As an exception to the general rule, he can attend with a locksmith to force entry to anywhere he suspects you have property. They have given you a form to consider payment by instalments or attachment to benefits. You must complete and return this by 4 Oct.

datlex

I'm puzzled by the TV licence. It seems unusual for a 20 year old not to live with parents. Also if you are homeless you are not liable to pay a licence. I think this is a hoax thread.

tempus_fugit

datlex wrote: »

I'm puzzled by the TV licence. It seems unusual for a 20 year old not to live with parents. Also if you are homeless you are not liable to pay a licence. I think this is a hoax thread.

I don't understand this statement. Why do you say that it is unusual for a 20-year old not to live with parents? And even if this were the case, it still happens and I don't see it as a reason to come to the conclusion that the thread is a hoax.

fatbelly

datlex wrote: »

I'm puzzled by the TV licence. It seems unusual for a 20 year old not to live with parents. Also if you are homeless you are not liable to pay a licence. I think this is a hoax thread.

Looked up the stats for you for 20 y-os living with parents

male 60%
female 52%
overall 56%

so it's not that unusual.

The liability for a licence occurred before the OP lost their accommodation, and the fine is the amount I usually see after everything is added in. For me it rings true, and that's always my starting point when giving advice, even if part of me suspects I am not being told the whole truth.

galahad_

Hello!

Its not a hoax thread - I have been living on my own since I was 18. I was in a hostel for about 8 months where I stupidly didn't have a license. I put my hands up and admit that was wrong of me.

Thank you for the advice, everyone. Currently trying to find a job, have a couple of interviews coming up, so here's hoping. Will also prioritise the TV license - you've all been very helpful. Thank you!

Arleen

galahad_ wrote: »

Hello!

Its not a hoax thread - I have been living on my own since I was 18. I was in a hostel for about 8 months where I stupidly didn't have a license. I put my hands up and admit that was wrong of me.

Thank you for the advice, everyone. Currently trying to find a job, have a couple of interviews coming up, so here's hoping. Will also prioritise the TV license - you've all been very helpful. Thank you!

Great progress right there! Please come and update us in a while. And still consider posting a SOA - it is a true eye opener for most everyone.

patman99

You might benefit by talking to Stepchange. They may suggest several options from a DMP through to a DRO.