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As I am writing this, I feel like I am about to explode with the worry over my ever increasing debts.

So I feel that I need to get it all down here now and that way I can have some minor weight lifted off.

 

I started university in 2010 and didn't have the best time in my first year.

 

I tried to committ suicide early on and after that I was using my credit cards to pay for gambling, drink and food.

 

This was made worse by the fact that I was kicked out of my own home, because other members of my family couldn't afford to pay their rent. This led to a downward spiral.

 

Back at uni in 2011, I didn't get on with the people that I lived with and shut myself off for the most part.

If I did go out, it was to my friend's house via taxi - and the costs for that mounted up too.

 

It all became too much financially and I started with payday loans. As of now I have 7 outstanding loans, totalling to over £2500.

 

The suicidal thoughts came into my head again recently and I was crying every day,

so I decided to seek some help by emailing a local mental health charity.

 

The lady that I had a meeting with was very helpful and has pointed me into the directions I can go with regards to getting me back on track again.

 

I also have a dmp which is dealing with my debts and will also be going to a local financial charity to see what help they can provide me with, too.

 

This is obviously a brief outline of what's been happening in the past 18 or so months, but I just needed to get it out there.

 

Thanks for reading

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Hey there. Not sure if you're just airing things or want some advice. I'm sure that you'll see from looking around here that you're not alone - so many people in debt. The fact is, none of the debt is important compared to your good self. £2,500 really isn't I problem to worry too much about - hoody payday loans are a nightmare. I take it all charges and interest is now frozen under you DMP? If not, go down to your local CAB and they will happily get this done for you to stop getting it any worse.

 

Very pleased that you are getting help. There's been times that I could ave one with some help in my time but, unlike you, I didn't have the nerve to ask for it unfortunately. You can get loads of great free advice on here and share experiences - your experiences ay well also help others too.

 

Well done for getting things back on track.

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Hello erimus1, thanks for your reply.

 

As far as I'm concerned, my priority is finishing university.

 

This summer is going to be long and hard in terms of earning money and getting my finances into some kind of manageable order,

but I think that - with the help I will be receiving - that I can get through it.

 

Almost all charges have been frozen under my dmp, but certain places are 'playing hard to get' so to speak.

 

The reason I sought help from external sources, is because my family is in tatters and it's pretty much only me and my nan that have stuck together through it all.

I went to see a counsellor a few days ago and I broke down crying in front of her, because I couldn't take it any more - I needed help.

 

Also, because I have depression, there are times when I will simply bury my head in the sand if things go awry,

so I need someone else to make me get a grip (I'll be seeing a doctor soon too, so he can help me medically and stick to medication/psychotherapy unlike previous attempts).

 

As it's the weekend, I've been envisaging so many nightmare scenarios with my debts - debt collectors, bailiffs, CCJs.

I guess it happens to a few of us when we're left to our own devices - things get over-thought and the worst case scenario is nearly always dreamt up!

 

Aswell as the £2500, I also have debts with credit cards that bring the total to around £7000, but the credit cards are being fair with me and understanding.

 

Anybody can talk to me about their experiences and I have been reading alot on here over the past couple of days. The success stories really do spur me on to get over my hurdles.

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I'm sure that the CAB would be able to sort out the remaining sticky creditors for you - they are actually very good. It may be an idea fir you to get a doctor's note to supply to your creditors too - this will keep them off your back completely. You have the option to request payment brakes with creditors too. Keep up to positive thinking and good work.

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Yes, I think that I should get a note from the doctor. My counsellor said that I should wait until I have spoken to the finance charity, but she wants a blow-by-blow account of what's happening with me so that she can make sure I don't go in a backward direction.

 

But if anyone is reading this and their debt is due to any depression or mental health problems, they should get it sorted asap because leaving it will only prolong the agony and be detrimental to your health.

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one of the biggest things you can do to give yourself

boost is look at reclaiming.

 

PENALTY charges and PPI are the main targets.

 

and they WILL be there i bet.

 

can you list your dets and whom they a with?

 

might be an idea to look at your credit file too.

 

see below

 

noddle is free.

 

dx


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Should I ask about reclaiming charges when I get to see the finance charity?

 

My list of debts are:

 

Barclaycard

Aqua

Capital One

Wonga

Quick Quid

TxtLoan

Payday UK

Payday Express

MiniCredit

1 Month Loan

 

I just looked at my credit file and not all of them show up, only:

Barclaycard

Aqua

Capital One

Quickbridge

MEM Consumer Finance

Micro Credit

 

The latest update on my credit file appears to be on 01/05/2012. What does it mean if some don't show up?

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I'd say the first 3 will be littered with penalty fees. I'm sure somebody with more experience will be along to offer you more advice.

 

You're not alone, you have an army of caggers supporting you now also.

 

Good luck and keep us all updated


It never rains but it pours...

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Should I ask about reclaiming charges when I get to see the finance charity?

 

My list of debts are:

 

Barclaycard

Aqua

Capital One

Wonga

Quick Quid

TxtLoan

Payday UK

Payday Express

MiniCredit

1 Month Loan

 

I just looked at my credit file and not all of them show up, only:

Barclaycard

Aqua

Capital One

Quickbridge

MEM Consumer Finance

Micro Credit

 

The latest update on my credit file appears to be on 01/05/2012. What does it mean if some don't show up?

 

 

Hi - you could do with getting a copy from all three main credit agencies. Some creditors only report to one of them so that is why you won't see them all here. Noddle only update their records once a month so although it's free, it's not as updated as Equifax or Experien. See if you can join both of these on the free month trial and get the screenshots up here so we can have a look - make sure to remove any personal details beforehand though.

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Hello Blackeyed.

 

Firstly, all of your debts - including the Payday loans - should be included within your DMP; this way you are treating all of your creditors fairly. As payday loan companies can use your debt card try try and take money out of your bank account you should contact all the lenders instructing them that you wish to remove the 'continuous payment authority' which gives them the right to do this. You should also be able to contact your bank to remove the authority - although some banks are a little slow in acknowledging that this is possible. It very much is possible, it's written in law and confirmed by the Financial Servcies Authority. Better still, you could always consider moving banks to someone else; ensure that you choose a bank completely independent from all creditors; this is called a safe account.

 

How much do you pay for your DMP? Can you afford the payment each month? When you spoken to the firm who set it up did the advise you on all of the options available to you? You may wish to complete our online budget sheet at mymoneysteps.org to double-check.

 

You may wish to know about an option known as a Debt Relief Order. These can stop creditors from putting pressure on you very quicky, also the debt would be written-off after 12 months. They are a formal option and there are implications attached. There is also a strict criteria that you would have to meet in order to apply. They can, however, allow you to make a fresh start and concentrate on your studies; here's our fact sheet:

 

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=37_debt_relief_orders

 

Best wishes,

 

National Debtline.


For Free, Confidential and Independent advice: 0808 808 4000

Monday - Friday 9am to 9pm // Saturday 9.30am to 1pm // 24-hour voicemail. Please leave a message to request an information pack. http://www.nationaldebtline.org // http://www.mymoneysteps.org

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Hi as you are a student have you approached them for a hardship payment, most universities offer them for various things, I got them because I drove a 50 mile round trip to get to uni because I owned my own homw and couldnt move any nearer, so they can help with all sorts of things.


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It looks like you have taken some positive steps in order to sort out both your physical/mental health and your financial health :)

 

National Debtline rep has offered some good suggestions in an earlier post and they are very easy to talk to on the phone and of course you can speak to them in complete confidence. They dont judge you.. just offer sound advice.

 

You will have read round the forums that you are not alone and there is light at the end of the tunnel :)


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