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please help, in debt!!!

pure_persian

hii ...................

Reply 1

Juno

20

Go to see your Citizen's Advice Bureau. They'll be able to help you decide what to do, and how to negotiate with the people you're in debt to. This may mean they can reduce your monthly repayments to something you can manage!

Reply 2

pure_persian

OP

huuuuuuuuuh

Reply 3

Juno

20

Link to The Citizen's Advice Bureau:

http://www.adviceguide.org.uk/index/life/debt.htm

You may be able to apply for the hardship fund, but it does depend on your university. Look around your universty's website to see what they do and their eligibility criteria, as it varies. But the CAB is probably your best bet.

Reply 4

nikk

15

hehe my debts are now in excess of 10k and i'm starting uni in a few days! ah well tis more to life than money!

Reply 5

pure_persian

OP

hiiiiiiiiiiiiiiiii

Reply 6

Juno

20

pure_persian

by the way, what is CAB?

read my posts again!

Reply 7

Fluffy

15

pure_persian

im nearly £900 in debt which i am payin monthly installements of around £200 a month

i start uni this week and its gonna be so hard for me to raise the cash, and if i stop paying my debt ill be taken to court with legal action
obviously this puts a lot of pressure on me while at uni..

does anyone know if there are any funds which help students with financial difficulties? i heard something about "the hardship fund"?
how much do they pay out and is there any other help?
anyone know?

please help
much appreciate

P

Are you a UK/EU citizen? Sorry if this seems rude. Access funds are for UK/EU students, and they aren't usually given to peeps in financial pooh before they even start uni. :frown:

Reply 8

Pencil

16

pure_persian

im nearly £900 in debt which i am payin monthly installements of around £200 a month

i start uni this week and its gonna be so hard for me to raise the cash, and if i stop paying my debt ill be taken to court with legal action
obviously this puts a lot of pressure on me while at uni..

does anyone know if there are any funds which help students with financial difficulties? i heard something about "the hardship fund"?
how much do they pay out and is there any other help?
anyone know?

please help
much appreciate

P

How much are you paid at work?

Reply 9

Fluffy

15

check out

http://www.support4learning.org.uk/money/funds_access.htm#ALF

Reply 10

pure_persian

OP

okkkkkkkkkkkkkk

Reply 11

Tev

6

you're most likely to get an overdraft with your student bank account. that should keep you going, you can work over christmas and summer to pay it off.

Reply 12

sashh

apply for access funds but also get some information from the consumer credit council - it's free and is VERY good advice.

They give you sample letters to send to your creditors and a calculation of how much you should pay to each one. In your letters to your creditors say you have used the calculation from the CCC. From personal experience (mine and a friend) most creditors will accrept this, it's in their interests to do this because if they took you to court the court would order you to pay the same amount or possibky less.

Also ask your creditors to freeze any interest, they may do, they may also give you a lower interest rate for a while r they may not but it's worth asking.

http://www.cccs.co.uk/home.htm

Reply 13

Fluffy

15

pure_persian

yes i live and study in the uk and have been for the past 15 years!
i know they dont help with debt before u start uni but if im paying out more money every month than i am getting in and if i cant continue with my education due to my financial difficulties then theres gotta be help

That was kinda my point- in order to get access funds you're going to have to get yourselve in a worse state (not nice! and will add to the old stress level!). I'd go see the CAB, and also contact the peeps you owe money too - if it's a 'proper' debt (ie with a consumer agreement, and not borrowed off Dodgy Barry form number 38) then they should be able to help you by reducing the payments so that you can meet then without risking a CCJ.

Reply 14

Chicken

12

pure_persian

are u paying anything towards ur debt on a monthly basis?
would u mind if i asked how much?

oh and im going to UEA, i think they have hardship funds

by the way, what is CAB?

I'm at UEA, I'm pretty sure that they have hardship funds but its more to do with your parents rather than you (ie have either of your parents been to university? Grants are available if you're the first person in your family to go and stuff like that). When you get there go and see the registry as they might be able to help, and if you are eligable for a fund then use it to pay off a lump sum towards the £900 before it gets higher with interest and such.

Also, I really wouldn't worry about debt too much once you're at uni...I'm already £3000 in debt to the student loan company and am still overdrawn from last term, and will be until my loan arrives, but thats just the way its gonna happen while you're a student!

Reply 15

pure_persian

OP

teeeeeeeeeeeeeeet

Reply 16

LittleMinx

1

Tev

you're most likely to get an overdraft with your student bank account. that should keep you going, you can work over christmas and summer to pay it off.

I was gonna suggest that. Cant you pay back your debt with your student bank account? Most offer £1000 interest free overdraft which should cover it. Who are you in debt to? Barclaycard also offer a student credit card which is interest free for 3 months. You could pay it off with that and then pay your credit card bill once your student loan comes through (assuming youre getting one that is).

Reply 17

Dr. Blazed

16

Take out your maximum student loan, pay your debt back with that, then use your overdraft to make up the difference. Of course, any way you solve it will involve living like a pauper for three years.

Reply 18

pure_persian

OP

hiiiiiiiiiiiiiii

please help, in debt!!!

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