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CC debt - any advice??

(7 Posts)
Debtlifeatm Tue 17-Oct-17 00:36:33

NC as I am so ashamed of how I’ve let myself get into this situation

No idea how this has happened but I have accumulated £1500 on a credit card, I am a student teacher and am freaking out how I am going to finish my course (from now until May) with literally no money! recently got a part time job but this is weekend only due to my studies and will only really cover enough for my food and petrol costs per month. No idea how I am going to pay this back, have sold everything I own that’s worth anything (kindle, old laptops for spares ect) and my bursary / loan which I receive only covers my outgoings such as car payments (insurance ect), phone, rent, then along with my income once I receive my first payment I’ll only just cover the min payments of this credit card IF THAT! The interest is approx £30 per month now.

Any suggestions? I’m starting to really panic and don’t want to forgo my studies for short time debt. Not entitled to anything additional from uni I’ve already asked :-(

If we can all pass the hat around and donate 1p each I’m sure I can pay this off lol, but seriously, any tips on clearing this quick?? Would be open to anything! 😀

Thank you x

hiddenmnetter Tue 17-Oct-17 00:43:11

Restructure to a personal loan so your interest bill is substantially lower or borrow money off parents or someone else who can offer you a gentler repayment schedule?

Debtlifeatm Tue 17-Oct-17 01:19:27

Parents can’t afford to lend my money, I grew up struggling so I wouldn’t ever ask anyway!

I’ll maybe look at different loans so I’m paying a fixed amount back but I’m nervous I’ll not be earning enough to cover this. My income and out goings are soooo tight and will remain so until next September sad

Ahhhh why is money so shit!!

Thanks for replying xx

Fluffycloudland77 Tue 17-Oct-17 06:50:30

Can't you transfer it to to a zero interest card?

chipsandpeas Tue 17-Oct-17 07:12:08

look at moving it to a 0% card, some only charge 1% of the balance or 25 as a min payment ie mbna do this least then you will sae on the interest

delilahbucket Tue 17-Oct-17 07:18:03

Do you have a student overdraft? These are often cheap or free. I wouldn't normally condone borrowing more but dire straights and all that. Do not go to a pay day lender. It will absolutely wreck your credit rating as well as costing you far more than £30 a month.

Debtlifeatm Tue 17-Oct-17 11:04:55

I am going to Look into a balance transfer today. 😀 thank you x

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