Author Topic: i'm worried to the point of illness! HELP?!  (Read 1376 times)


  • *
  • Posts: 1
i'm worried to the point of illness! HELP?!
« on: Sep 04, 2012, 12:38:22 PM »
hi everyone

im urgently seeking advice on how bad my situatuon is, im literally worried to the point of illness. i cant remember what it feels like to actually wake up without a knotty feeling in the pit of my stomach, im worried sick!

at the moment, im currently unemployed. i owe vodafone over £1100, i owe lloyds tsb £600, my parents £700 (but thats not really debt, it still counts though), and on top of that i very stupidly took a payday loan out KNOWING i couldnt pay back on time. i just thought i could make a payment plan and pay when i can, little did i know how much it would shoot up. the worrying thing is, i dont know how much its gone up, they cant tell me until i make a payment plan. i borrowed £140 and had to pay back £181, however the due date was 31st august, i said i cant pay until atleast the 28th september because thats when maybe i'll have a job! fat chance though! fact is im still unemployed! :( will it shoot up silly amounts? how much about am i looking at?

i feel i cant turn to my parents because they're so angry at me with all the money i owe out, i feel so alone! ive been to citizens advice and arranged an appointment with them, but really, what can they do until ive got a job? im searcing for jobs everywhere, but im so worried about this loan! please can someone give me a rough estimate of how much im looking at? and am i in a lot of trouble? i literally cannot pay a penny back until im earning, ive even got a car, and my job seekers allowance pays for the insurance. i live in the vallies of south wales, and no matter what i NEED  this car to be able to travel for work and job interviews. im so stuck! someone please tell me how bad my situation is?!

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: i'm worried to the point of illness! HELP?!
« Reply #1 on: Sep 06, 2012, 11:14:29 AM »
Sorry to hear about your situation. I am not sure how much your payday loan will increase by but I would be pretty sure that you will end up owing at least double what you borrowed. Going to the CAB is exactly the right thing to be doing. I advise you to speak to them about a Debt Relief Order. This is a solution specially designed for people with debts of less than £15000 but who are on a very low income. The solution costs £90 to implement and then your debts are taken away from you. Definitely worth you finding out more about this solution.
Debt Expert & Author