Help - Young and In Debt

Merlot

Right then , ask your father, if you don't want too, restart the claim from fresh. Do you have any paperwork at all from the Natwest advising you that they are looking into the claims, if not, start again, and today, you can only claim for the past 6 years in England, 5, I think in Scotland. Do it today.

I'll find a link to the free credit rating thing, I'll be back in a mo.

Merlot.x.

tallyhoh

Not being harsh but it would appear that you have a fair bit left after paying your bills listed as "clothes" "going out" & "Misc".

Are you actually paying anything off the debt owed? Even if you get a loan or whatever to pay it off, you still have to repay that.

Are you repaying your parents anything, or is it that they think you are not paying enough? A monthly standing order for half your clothes bill & going out towards your parents debt might preserve relations (£80) & then you could start thinking about the rest.

4littleone

Can you sit down with your dad and tell him you really want to sort out all your finances yourself but you need to know what he has and hasn't done.

Also tell him that you really appreciate the money they helped you with but would like to pay it back so the sooner you know what you owe and to whom the sooner that can happen.

If i were you i would send off for your credit files by post, £2 each and you don't need to give card details. Most of the online checkers either ask you for a larger payment to view your file or will only let you view a very limited file for free which doesn't give you a true picture.

Merlot

The credit agencies' desire to sell us an ongoing ‘credit monitoring' service costing around £70 a year leaves a loophole open. To tempt you, they offer ‘free trials', which involve setting up a Direct Debit or regular credit card payment, in the hope you'll just let it drip from the account.

So sign up, then view your file at no cost (either instantly or after they've sent a passcode) and then cancel the subscription. Even though they allow 30 days, I'd do this straight away; leave it a month and you may forget.

• Equifax. Its Credit Watch Gold* has two options, one at £7.50 a month, but the one to choose is the ‘Free for 30 days and then £69.99 for the year'. When you sign up a payment card will need to be authorised but the £1 fee is not actually charged to your card if you cancel in time. To request cancellation call 0870 0100583 and quote your account reference.
• Experian. Its Credit Expert* offers a ‘free 30 day trial then £6.99 per month' service which includes your credit report. It charges an extra £5.99 to show your credit score. To cancel, call the free-phone number 0800 656 9000, or email [EMAIL="customerservice@creditexpert.co.uk"]customerservice@creditexpert.co.uk [/EMAIL]

If you're worried about hassle, and just want a simple online report, then use the CheckMyFile*, credit report, which for £19.95 provides some credit details from all three agencies, in one very easy to understand report.

This is from martins article, I have copied and pasted it for you.

Hope it helps.

Merlot.x.

alottaklass

Arrggh my god there is so much to do.

Where is this SOA calculator? and i'm totally skint have no money to pay for a credit check until next week!?!

But thank you all for your advice all heard loud and clear, and I think i'm just trying to avoid talking to me dad about everything! And I do realise I spend far too much on luxries, i was just be honest!

My parents will not accept any money from me on a monthly basis.

Merlot

http://forums.moneysavingexpert.com/showthread.html?t=107280

This is for the SOA.

http://www.makesenseofcards.com/soacalc.html

This is for the calculator.


Sit down with your Dad, and explain to him that you want to repay all your debts and you want his help (not financially, but experience, honestly that can work a treat, if he sees you taking the right steps, they may just give you some slack on the constant reminder of the family debt) Remember too, to keep us posted, and please do not think of getting another credit card/loan, it will lead to more problems later.

HTH

Merlot.x.

epsilondraconis

alottaklass wrote: »

Arrggh my god there is so much to do.

Where is this SOA calculator? and i'm totally skint have no money to pay for a credit check until next week!?!

You don't need to pay for the credit check. Go with the 30day experian option first, print out your credit report (and ensure you cancel within the 30days so it doesn't cost you anything). On the Experian report, you are looking for lots of green circles with 0's in them.

Don't bother paying for the credit score, it really doesn't mean a great deal as the financial institutions don't use these credit scores in making a decision, they have their own method for determining your suitability for credit.

If you have a Capital One credit card, you can get twoEquifax credit reports free over a 12 month period. Don't apply for the Capital One card to get the credit report - only take up this option if you already have a capital one card. See:

http://www.equifax.com/consumer/capitalone/en_uk

I think it is good advise for you to speak to your parents and discuss the situation with them. Just say you have buried your head in the sand for long enough and would like their support, not financial support, just emotional support and experience etc. There have been thousands of people in the same situation as you - they have got through it and feel the experience has made them stronger as a person. The same will be true in your case if you tackle the issues. Good luck...

Ma77hew

http://www.annualcreditreport.co.uk/

Provides a free credit report, I don't think it gives you a credit score but it does show credit you have and whever or not any payments have been missed.

You can request it be delivered by post which is the free option. You then get a passcode to access your file online.

TurnaroundSue

I am a bit confused when you say that your dad keeps reminding you on a daily basis about the money you owe him, but then won't take any money of you? Was the money lent with the intention of paying it back, or did he just 'give' you the money?

Like others have said, you really do need to sit down and talk to him, find out exactly where you stand and whether you are expected to pay the money he has loaned/given you back to him. Once you have that clear, you will be able to move forward and start repaying your debts.