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Debt totalling to 6.5k - help required

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Hello I am a young male, less than 25 years old and I need to get out of this situation as

I am a bright guy with good aspirations, just made a lot of mistakes when I was younger. I


am struggling at the moment to manage my debts.


I am starting to lose motivation due to stress and I really need to get this sorted as soon as possible for the good of my own health

so I thought I'd come here and see what you guys think about my plan.


My wages are approximately £1000.00 a month, with a phone bill of £50 a month and board payment of £100.00.


Let's start with the debt

- I have 2x utility bills (EON/United Utilities) of approx £160 each to pay from a previous property,

these haven't been passed to a DCA or anything but are starting to push for payment by the end of January.


I have 6x payday loan debts totalling to £1250.00.


I have a capital one credit card with a balance of £160.00.


A Natwest Gold Mastercard with £1300.00 balance, this has been passed to Triton who are pushing me for payment

and have issued a letter saying they will be sending someone round to my property.


Littlewoods account passed to NDR Money with a balance of £900 approx.


Very account in arrears, balance of £1300.00, hasn't been passed to a DCA yet but I am in arrears.


Loan with a company similar to Pounds to Pocket, not in arrears, up to date with payments with a balance of £1600 approx.



The Plan - My credit file is massively ruined anyway,

so I am not bothered about late payments to creditors.

I doubt that I am close to court summons,


on 31st December when I get paid, I was going to clear the total balance of the Payday Loan lenders with a little help

and demand they block me from using their services, as to be honest, these are what have got me in this mess in the first place.


That would mean from 31st January's pay, I will be much much more financially stable and already in much less of a mess.


I was then going to contact each of the other creditors to arrange payment plans with them

but I wondered what the best way to do this is as they are extremeley pushy, disrespectful and awful to deal with over the phone.


I genuinely believe that the best option for me is to pay off all these payday loans,

as it is mentally battling on every payday to mess about with choosing extension fees etc or re-loaning.


I know that these are classed as non-priority debts but I feel that paying these off will make me feel a lot stronger mentally.


I await your opinions and responses :) Thanks

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Hi sillyboy15


Just thought I'd give you a quick heads up about the outstanding balance with us.


If you're able to set up a payment arrangement, we'll be able to look at spreading the balance over a more manageable period.


We won't charge you interest and it'll also stop any debt follow up.


I do understand this is only a small part of what you're having to deal with but hope it helps a little. Best of luck with the other issues you mention.



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Thank you Malc for your input here.





We could do with some help from you.



 Have we helped you ...?         Please Donate button to the Consumer Action Group


If you want advice on your thread please PM me a link to your thread

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Hi & welcome, I am guessing these debts are all quite recent? Post 2007?


You are correct, non of these are priority debts.


You have to do what is best for you, and only you can decide what.


PDL attract a criminally ridiculous interest rate so getting shot of them is probably best.


Writing to the other creditors is definitely a good move, but you take control, they will try and exert their deluded authority to force you to pay what you can't afford, you tell them what you will pay, they do not dictate to you.


There are hardship letters you can send to support your case, and you MUST keep everything in writing, the only reason why they are so pushy on the phone, is because they think they can get away with it, and people don't record phonecalls, so unless you can record your calls, keep everything in writing.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!



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