Will you start uni in debt?

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Reply 20

Reue

Original post by simplylldxo

I do think the age for applying for these things should be raised to 21 or even 25.

So legal adults would be unable to enter into contracts? I dont think thats the solution.

Reply 21

simplylldxo

Original post by Reue

So legal adults would be unable to enter into contracts? I dont think thats the solution.

tbh legal adults aren't much better in terms of debt...

Changing how a person can apply for them may be the better solution...

It's too easy to apply for credit cards, store cards, phone contracts and loans at the moment.

Reply 22

Reue

Original post by simplylldxo

Changing how a person can apply for them may be the better solution...

It's too easy to apply for credit cards, store cards, phone contracts and loans at the moment.

I totally agree with that.

Reply 23

simplylldxo

Original post by Reue

I totally agree with that.

When I was writing one of my earlier posts on this thread; two payday loan adverts aired back to back - Amigo and Sunny to be precise. Their main taglines to get people to purchase loans from there were: 'easy repayments' and 'apply today, cash tomorrow.' I know sh*t happens in life but payday loans aren't the solution.

Same with credit cards, I've had numerous applications over the years from various companies - I know it's to do with companies selling your details over to third parties.

The worst ones for me are phone contracts and store cards; you can't even go into a phone shop without the sale advisors coming over literally the second you walk in and wanting their commission. Same with the shops that do store cards, they ask you when you are about to purchase your items so you are put on the spot.

Reply 24

Reue

Original post by simplylldxo

Taking on debt should always be calculated and pre-planned. In my opinion the worst are those offering payday loans with cash within 5 minutes. Some even provide it through a helpful app :rolleyes:

I'm waiting for the courtcase where someone claims they used the app whilst intoxicated and so the contract is void.

Reply 25

username1107539

Original post by simplylldxo

Phone contracts, store cards, credit cards, payday loans. You have to be 18 to apply for one and at 18; your credit record will be perfect.

I do think the age for applying for these things should be raised to 21 or even 25.

Your credit record isn't perfect, it's non-existent, my boyfriend was refused phone contracts because he had no credit history.

Original post by simplylldxo

If it was me in this position; I would cancel three of the cards but keep one on case of an emergency (because they do occur).

I would also make a list of necessities that need to paid for then a list of luxuries if I had some spare income.

I would also look for a part time job (zero hour contracts are ideal for students) for that extra security!

Good luck 😊

Beware of zero hours contracts, you're never guaranteed work :/ depending on the employer, if you say you can't work one day, and then call to ask for work on another day, they may simply ignore you because there will be hundreds of others willing to work when you can't :/

Reply 26

simplylldxo

Original post by cah846

Your credit record isn't perfect, it's non-existent, my boyfriend was refused phone contracts because he had no credit history.

Beware of zero hours contracts, you're never guaranteed work :/ depending on the employer, if you say you can't work one day, and then call to ask for work on another day, they may simply ignore you because there will be hundreds of others willing to work when you can't :/

Then again, if your boyfriend hasn't had something that would boost his credit history; they may not be able to get a contract.

I know the zero hour contracts aren't the best things in the world but they suit a student who needs a bit more income. Part-time positions don't always suit a student as some employers want their employees to be fully flexible so if they need someone to do overtime but you have lectures that day; it'll put the employer off from employing students in the future. I've had rejections from employers over it; even though I'm only timetabled for 10 hours a week at university.

Alternatively there is shift work, I think that's why students more commonly work at places like McDonald's or at nightclubs/bars

Reply 27

kodama

I studied on a different course for two years prior to my new course starting in October, so yes. It was on the old system of funding, thankfully.

Reply 28

username996405

I dropped out last year so I'm paying back loans and overpayment of grant.
Restarting uni in two months but I'll still be paying back 40 a month. It's not much, I suppose but I'd rather not have 40 disappear out of my account every month! :frown:

Reply 29

Arihc

Yes, I was in that position. I had to pay a deposit and upfront rent for my halls at the beginning of September in 1st year even though we didn't start till late September and student loans didn't come in till then. Same happened with second year as I had to pay half rent and deposit on my house for 2nd year

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