I need financial help, im 19 years of age and in debt, i just want some advice please?

my friend, i'll spare the lecture i would like to give, i think you understand your situation well enough. What you have right now is a income crisis. This needs to be addressed. You need to go find either a good full time job, or multiple part time jobs to clean this debt up. You can clean houses, deliver takeout, mow lawns or whatever is legal.

Speak to a free consumer debt advise agency such as national debtline and ask them about a new process called a debt relief order. This works for total debts of less than £5,000 and will write the debts off. Yes extra income could also work - but you may will still need to speak to the banks in the short term. If you are able to significantly increase your income in the next few years, then a debt management plan may also work for you. Again chat to the free agencies.

ahhh, feel for you! i got in the same situation as you but probably twice as much debt...at first i just ignored all the bad letters. It was horrible i was worried to answer the phone, door etc just incase it was people asking for money, i tried to go through a debt agency that take so much of you every month and settle a payment with all the companies on your behalf....but they take a chunk!!!!! so i wrote them all a letter, with a financial statement which basically sais all your incomings and outgoings and if you cant afford anything..they cant take anything form you!! you can agree to pay like £1.00 per month if thats what you can afford, they have to take it??? i started paying £5 to each one and then every 3 or 6 months they ring to see if your cercumstances have changed and if not they keep it at the same. you also need to ask them to freeze your interest so it dont go up any more....citezins advice bureau are really helpfull, there is usually one in most areas. or debt line?? there are loads of financial statement templates on line too just google it. once you do all this its brill, you dont need to worry, just think at least your paying something and just keep them informed all the time and they tend to be ok. hope this helped you :)

The Citizens Advise Bureau offers free advise. They can contact people you owe money to,and maybe able to freeze the interest. And they can work out a repayment programme. All the best

Some interesting answers so far. I bet you have already told yourself it's your fault, so that's not much help. I bet you know that if you got yourself a better job or earned more income you'd have more money to pay your creditors, so that wasn’t much help either then!! You already know that with your level of income you need to cut back in your spending. The person who advised you to contact your creditors was spot on. Whatever you do DONT IGNORE them, they will not go away. You should try to come to an arrangement to pay whatever you can. If that fails you could go to the local court and try to arrange an Administration Order. You will have to have at least one CCJ against you and less than £5000 of debt. The court will decide how much you can afford to pay each month. A Debt Relief Order is for people with less than £15,000 of debt, less than £300 worth of assets (you can have a car up to £1000) and less than £50 per month disposable income. The problem with the DRO is that it is almost the same as a Bankruptcy. Do you really want to have that on your credit file at your age? Probably not! You could do some Debt Management but to be honest with your level of debt you would be better off talking to your creditors and coming to an agreement with them.

You need to contact debtline which is a free number and I would ask orange if you can be put on the pay as you go service.Good luck.

Ok first, you shouldnt have gotten yourself into so much debt so its your own fault. But, if youre desperate, join the defence force. its amazing, there are excellent jobs, it can take you anywhere, and you are extremely employable once you leave.

Sam, you need to do 2 things - bring in some more income and cut some of your spending. Carry a notebook with you and jot down all your spending. It is always possible to pare down a little everywhere - the secret is in hanging on to your savings. If you cook for yourself, just one basic evening meal, and a loaf will provide sandwiches for several days' lunches at minimal cost. Porridge for breakfast, or egg on toast, both economical. Reduce or eliminate smoking, drinking, going out on the town - you can't afford them right now. If you do go out for a drink, make every second one plain water, preferably from the tap which should be free. To bring in more income, could you work extra hours, or teach someone how to play the guitar or to do something else you know how to do? Citizens Advice bureau will help you get to grip with your debts and show you how to approach the people you owe money to. Don't use the credit card - find another way to meet your needs. Mums are often very good at budgeting for their families - your friend's mum, where you are living now, might be a very good person to ask for ideas. She will probably tell you to cut up the credit card and learn to live without one. Find free or nearly free things to do with your friends - visit each others homes to watch DVDs or a footie match, attend free talks, concerts or exhibitions, go on hikes or even get involved in voluntary work. Everything doesn't have to cost bundles of cash. If you make it a challenge to spend as little as possible, even competing with your pals, being frugal could even become fun. Good luck !!

i feel your pain man i done the same thing at about 19 but i had a miracle and got some compensation and paid them of with that, remember though they cant take blood from a stone its not your fault you havnt got it, dont ignore them, and these companys accept a much lower amount like they would most probaly let you pay of your overdraft with £700 or something stupid, good luck son