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Last year, I was pretty silly and got myself involved with store cards with Littlewoods, Very and Great Universal. At the time I thought it was a good easy idea and would not struggle with the repayments. I think in a way I became addicted to just buying clothes and paying next year, and got very carried away. I then could not afford to meet minimum payments, as I had a small bar maid job working just twice a week and am very silly with money. I managed to find myself a new job with a good wage, but by this time, by account was now in arrears. Thinking the easy way out was to use a payday loan, I borrowed money from websites such as wonga and lending stream. In an unfortunate turn of events, I then got made redundant. With no job and no way of making any payments full stop. I have been getting hundreds of calls from all of my creditors and when I have tried to explain that I don’t have any money to make repayments they have shouted down the phone at me and threatened to send debt collectors round to my door. My debt in total including everything is £3078, and I have a very poor credit history because of all of this. I know it is all my fault and I think about it every day, and at 19, I am so depressed from being so childish and immature. What can I do? And if there are any websites/telephone numbers I can call, please put them down. I was considering speaking to my parents, but they aren’t the type to take this sort of thing lightly, and would go mad with me for being so stupid. I also do not want to worry and upset them, as I know they are going through a hard time at the moment. Is there a way I could borrow £3000 of some company to make my debts into one? Please help, I am terrified of waking up to debt collectors one day.

4 Thoughts on I’m in a lot of debt, and don’t know how to get out of it?
  1. Reply
    November 29, 2011 at 3:28 am

    You won’t get a loan.
    Any company that promises you a loan in your situation will be a scam.
    Do not dare touch online sites for this. The scam is easy to operate.
    By asking this, you have just begged for about 50 answers from sites for loans.
    They advertise wildly on here

  2. Reply
    Lucy H
    November 29, 2011 at 4:09 am

    Maybe sell some of your stuff, to clear some of the debt.

  3. Reply
    November 29, 2011 at 4:59 am

    yes – DO NOT go to any online or TV advertised loan shark type company as they could make things worse – I have seen payday loan type companies advertising rates over 2500%.

    I would suggest addressing the problem by contacting the lenders directly and informing them of your situation and ask for the interest to be minimal or set aside. Then discuss with them how much you can afford to pay each month and stick by this plan religiously. £3K to a 19 year old is a mountain of money – however keep your chin up and tackle this responsibly – on the bright side it is a great learning curve that you will personally go through!

    Stay positive and take action and control before the lenders start taking action and ruining your Credit further by going to court etc? Even if they do take you to court then you are allowed to pay them what you can afford to pay the debt off?

    The problem will not go away – so DO NOT ignore it – address it? I personally have steered my company out from murky waters over a 3 year period with debts about 500 times yours? Keep your head down and keep working to clear it off you will be a better person for it in the end! Concentrate on how to earn more to help clear the debt quicker?

    Is Clinton Lewis a SCAM – check the link:

  4. Reply
    Aimee Invaluable
    November 29, 2011 at 5:56 am

    sell your clothes….

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