i was young and didnt know what was waht so of course ened up getting myself in debt, then getting further to try and get out of it, still, it wass not a problem as i had a reasonable job and always paid. Until, i was made redundant, that messed everything up, but i managed to get another job and started paying agin, but i have recently lost that job and so now jobless, i have terrible debts and dont know what to do.

the harassment is making me ill, i am already being treated for depression due to various reason, not just the debt problem, but it doesnt help, and everytime, i get off the phone or get a letter, it sinks me futher down.

i am living with my parents, so dont own a home, and dont own anything really, and as for my income, well as you can imaging, JSA barly gives you enough to live, let alone anything else, and of corse i still have to pay my own way, pay my parents rent, pay for electric ect. so i have the worry of being kicked out over my head to.

i just dont know what to do, i have no spare money at all, i cant even think about bankrupsy becuse being unemployed, i cant afford it! and getting more and more ill and there not being hardly nay jobs about, its looking like a terrbile time is going to contiune.

Hi, have you thought about Debt Management? - that way you are paying off your debts... but at a rate you can afford.

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yesterday is history , tomorrow is a mystery and today is an opportunity

OK. Deep breath.

First thing: write down exactly how much money you have coming in each month. If it's just JSA and nothing else, then fine, put that down.

Then beneath this, write down all the expenditure you need. Include anything you pay your parents, and anything you need to get by - payments for mobile phone, food, travel, anything you can't avoid paying out.

What happens next depends on whether you have any money left to offer your creditors after your expenditure has been deducted from your income. If so, then maybe - MAYBE - debt management plans might be for you. If you have no money or very little money left, then carry on reading.

Next, you need to establish whether you have more than £15,000 of debt. If you have less than £15,000 debt, and you have no assets, and you have less than £50 per month to offer your creditors, then you are probably eligible for a Debt Relief Order. These were recently brought in and are for people with no assets who owe less than £15,000 in debt. You will have to go through an intermediary - search for Debt Relief Orders on Google - and they cost just £90 to set up. They last one year, and you don't pay anything during that time. If your circumstances improve and you become able to pay your creditors then your Debt Relief Order might be cancelled, but in one year, if nothing changes, your debts are wiped. Think of it as bankruptcy-lite. It might be ideal for you.

Unfortunately if you do owe more than £15,000 in debt then you might still have to look at bankruptcy. There is a fee to pay and this is daunting. However you are on JSA you might get some help with some of it. My advice would be - if you want to go bankrupt, stop paying your creditors completely and save money that way. Not paying them hardly matters if you're going to declare yourself bankrupt. And speak to the Citizens' Advoce Bureau for more information about bankruptcy and what it might mean for you.

IVAs can be a fantastic alternative to going bankrupt. Don't get too down with debt, there are companies out there who do a genuine job give them a call. Student debt is going to become a significant factor in the UK for a coming generation. Our company is preparing for this future market. Gain advice, it can't do any harm.

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