question category: Student Debt

Student going onto second year, in debt and very depressed.
Submitted on: 30th Jul 2009 by Non-Member | Total Answers: 1

I am curently unemployed as I have found it very difficult to find a job anywhere even though ive spent practicly everyday hunting.
I currently owe;

£350 for a payday loan (going up £18 a week)
£250 phone bill ( £35 a month)
and £240 rent for first month (I need to re submit some work for university by the 21st of augest so need to move inot my new house soon)
£1250 overdraft maxed out (interest free)
£350 credit card

I have no income whatsover except for the student loan which is coming late september-october and can see no way out of my predicament and have had suicidal thoughts, the loans company have threatened me with debt collectors and ccj's and my mum is shouting at me every day because of this.
I cant cope please help

Yours sincerly
James Leighton

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Re: Student going onto second year, in debt and very depressed.

Debt is a struggle and you certainly aren’t alone in that situation as a student.
If you have no income then you won’t be able to pay anything to your debts and you should write to them explaining that. We can help you do that.

I would also suggest you open a new bank account with someone you don’t owe any money to. You should then be able to budget more effectively when you get a job.

Obviously you have an income problem and you need a job as a priority. I know your debts seem hopeless right now but there is really very little your creditors can do other than accept your situation.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. Debt Advice Foundation provides a free, confidential helpline and can advise you . Click here to find out more.

Submitted on: 13th Aug 2009 by Darren Member

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