Help!

kingoftheland

hi im in need of some advice please

1st off im an apprentice engineer and im on a very low wage blow minimum and i paid for something on an argos card which was 470 now gone up to 530 adding on 11 pounds each month and i dont know how i can go about paying this back as i have nothing after my out goings each month please help! someone suggeseted getting a credit card to pay it off but i dont know if i can get that limit and i dont want to digg myself deeper.

any help will be appreciated

many thanks

Larumbelle

Slap the person who suggested a credit card! And then pat yourself on the back for realising straight away, something that some of us took years to learn

Have you called Argos and explained the situation? You might well be able to get them to halt interest and accept a plan paying back what you can afford each month. Make sure that the offer is AFFORDABLE since if you agree then can't pay it they won't take too kindly.

If they will not help you need to call CCCS or National Debt Helpline. Numbers are at the top of this board under the link 'problem debt'.

Can you get a part time job for a few months to pay it off? Bar or shop work for a few hours per week, perhaps. It can even be quite fun and sociable, and after you have paid your debt you might decide to keep it to give you a little extra splurging money!

It is a relatively small amount, I am sure you will find a solution so please don't panic. Just get it sorted, dust yourself off and learn a lesson that will help you make a better choice next time

pania

HI hon and welldone for finding this lovely site and making your first post, below minimum wage? GOSH!! isn't that illegal?
ok couple of suggestions but firstly don't panic.
1) do you have any other ways of earning extra money? evening bar work? on line surveys? have you got anything to ebay or amazon?
2) Do post your statement of affairs, (a list of your incomings and outgoings each month, include everything, christmas birthdays car tax etc etc) That way we maybe able to assist you in cutting back somewhere and making the most of the income you do get.
3) are you entitled to any form of bursary for training? hopefully some lovely person on here will tell you where you can get info on this.

Lots of hugs and keep on posting.
xxx

kingoftheland

well basicly im on 530 a month i pay 40 quid on a contract and 400 on rent lol
im an apprentice engineer and im learning alot and getting qualified quick so i wont be broke forever lol thing is its on my mind and its like im in a hole i cant get out of. i have to survive some how lol im 19 years old i work full time 6 days a week so jobs out of the question.

GeorgeUK

Try this site - see if there's anything you should be getting that you aren't currently.
http://www.entitledto.co.uk/

Larumbelle

Apprenticeships are one of the few exclusions from the minimum wage.

Can you get any benefits help? Try popping your details in at www.entitledto.co.uk and check if there's something you could be claiming

LOL george you must have posted it while I was still wording my post!

kingoftheland

nothing lol bad ehh i think i can pay it off £50 would that be worth it will £11 interest being added each month?? thing is i want to get it out the way because its on my mind but i have a lot of outgoings.

teeni

do you get housing benefit towards your rent. it is restricted for your age but could be £47 per week approx if you are entitled

Larumbelle

If you call argos and explain the situation nicely they might agree to freeze the interest for you. I have never done this with Argos but I have with other stores and with banks.

Even if they won't freeze the interest £50 per month will reduce the interest as well as the balance. Do a snowball calculation here http://www.whatsthecost.com/snowball.aspx?country=uk and see!

kingoftheland

nope i get nothing ... just like to say thanks to all off you that replied never been to a site so responsive lol i just spoke to Argos and said it will take 10 months at 54 quid to clear i might put that in a direct debt also the interest rate will go down

Larumbelle

:T Well done for making that call. And for getting things sorted. And for realising that there was a problem before it got unmanageable.

:beer: Good for you!:j