what do u lot reckon? :/

stephaniek6838

hi, im 21 just started a full time art and design course at local college(been working full time fr last 4years). i have £3000 worth of debt £1200 bank loan and rest on two credit cards. i worked out my statment of affairs and worked out i have £18 to myself a MONTH!:eek: i work part time and decided to go to the bank and consolidate my debt. the bank would not lend me the money has i am not earning enough, but id be paying less if i got the loan.:mad: so i have decided to quit college and work full time to pay off the debts and then start again next year.would you agree thats the right thing to do? THANKYOU:rotfl:

PasturesNew

stephaniek6838 wrote: »

the bank would not lend me the money has i am not earning enough, but id be paying less if i got the loan.

While, from your perspective, it seems crazy they wouldn't do it, from their viewpoint they would be taking ON a risk that isn't currently theirs.

At the moment if you fail to pay, it's not a debt on their books.

Anyway ... so where's the full SOA so the wonderful people here can help ...

parikoo

just remember if you quit and want a student loan the year after you may not get it unless you have medical proof for leaving, I would consider going to access to learning fund at your college they may help.

I am a parent helping two through uni, one of them quit twice and it HURTS financialy.

stephaniek6838

hi, im not at uni just yet just at college, i need to do this course if i am to go to uni nxt year. SOA bank loan £106, mint card- min payment £34, egg card around £18 (min payment) tuition fees £56, and a £300 overdraft vodafone bill £16. I earn around £40 a week and get £30 adult learning grant a week. thanks

[Deleted User]

If you can't afford to pay those monthly bills you could try going to a debt adviser and get them to help you renegotiate your payments. If you go to a registered debt adviser, do a financial statement and keep up with agreed payments many of your creditors will agree to a lower payments.

You can get free debt advice from your local Citizen's Advice Bureau - find yours here http://www.citizensadvice.org.uk/index/getadvice

Best of luck