I am a 19 year old student who has got into so much debt it's unbelievable. With an ambition to go into the IT profession, but with no available funds to afford tuition, equipment, etc. I resorted to taking out multiple loans from multiple companies...the latest of which was from Minicredit. I was not eligible for a student loan as I am attending college, not university. Either way, I think payday loans were definitely the wrong choice...what was I thinking??? I received a letter today from Minicredit demanding that I pay in excess of £950 (i think the amount was £962.50). I borrowed £400 from them about 4 months ago, on a 30 day pay back basis. At the time I was receiving very low income...and I knew it would be hard to pay back. But at the time I did not stop to think for a moment as to just HOW this was going to work out. I also owe money to TxtLoan, Wonga, QuickQuid, and I daren't think how many more. I was desperate to get onto this course, for which I needed certain equipment. I also needed to fund transport to and from college daily as its an 18 mile trek each way. On top of that we have the tuition fees, which are not damn cheap, followed by exam fees. I had to fund this myself, no parental back-up (which is fair enough...I am 19!), and no job. Jobs are impossible to come by...in my little remote town in devon, there are little to no vacancies. Payday loans were the worst idea possible...WHAT WAS I THINKING? At the time, though, it was a choice of finding necessary funds...or not getting onto the course basically. If I didn't get onto the course, it would be another year before I could apply again. Bear in mind, this is a specialist course...I have clear plans laid out for what I want in life. So I couldn't settle for just "any" course. Anyway, I may be a whiz on computers...but I am rubbish at budgeting. This has been proven simply by the fact I got myself into this situation...and now cannot get out of it! At time of posting this I have less than £5 in the bank! I earn a standard income of £68.85 a week! But I have expenses even now, that I am still paying for. Let's put it this way...I get around £250 a month...by the end of the month I have less than £5. I am not particularly buying anything either...that's me paying for expenses. Expenses that I am not yet in debt for, if you get me. Minicredit want in excess of £950. Wonga (haven't heard from them in a while). TxtLoan are demanding like £350. QuickQuid are demanding around £650. Bear in mind I borrowed £400 from Wonga, £400 from Minicredit, and £100 from TxtLoan, and £400 from QuickQuid. In total I borrowed around £1300 to £1500 (give or take a few hundred pounds...not going into exact amounts here). Anyway, the amount of debt i am in, including interest, amounts to an excess of £3000. And the worst bit is, they go up by hundreds of pounds a month. I am probably nearing 6 months overdue with my most overdue debt. What I'm trying to say is...over the course of 6 months...I have pretty much screwed my life up. Can you imagine it? 6 months ago, my credit rating was superb! Bills paid on time...a perfect citizen i was. Now, as soon as income stopped, and expenses started as I stepped out into the real world...look at the dramatic change! Minicredit are threatening court action. So are QuickQuid, and TxtLoan. And what worries me about Wonga...is I haven't heard from them in like 3 months??? I don't know what to do. If this goes to court, they cannot order me to pay money I do not have. Yes! They can issue a court order to seize my assets! I have a few valuables...a mac computer (I use that for graphics...part of my tuition). I am happy to sell everything I own...except for the mac (as I need that). But the worry is...even if I do sell everything I own....the total value will only meet half of my debt! WHAT CAN I DO????????????