debt help

[miasmum2012]

posting this for a friend

basically he went to university and couldn't afford it so he had to drop out, he doesn't have a job and they won't let him sign on to jobseekers until september because he is still classed as a student untill then

he is in a lot of debt with bank overdrafts and wonga loans (just got a wonga loan for about £900 to pay off student loans) just wondering if anyone has any advice about it

surely if he hasn't actually got any income he shouldn't have to be paying his debts off at the moment

help please tia x

 

[whatwillbex]

I'm not sure to be honest. I just know some how he needs to get the Wonga loan gone soonish as there interest rates are crazy.
Isn't there such thing as an IVA where you agree to pay a pound a month or something like that.
He should try and call the CAB they can point him in the right direction and hopefully help.
Maybe he can he do a car boot/ebay or something to generate some money?

Sorry I cant be of much help.

 

[nugget80]

You are responsible for paying off all debts even when not working. Student loans only need to be repaid when earning over a certain amount though that may be different if you drop out...!

 

[frantastic20]

He really shouldn't have gone to Wonga to pay off his student loans, he could end up in a real mess doing that.

I would advise him to call Consumer Credit Counselling Service on 0800 138 1111 - they are a debt advice charity who will advise him on how to deal with his debts and the advice is free. He will need to have all of his income, outgoings, and what money he owes to hand when he calls.

Hope he gets it sorted out soon!