I’m a young guy in my 20s. 6 months ago, I had a well-paid job, and I was able to rent a room in a nice house share in London. Now, I’m barely making enough money to scrape by, I have no fixed address and I’m reliant on the kindness of friends and family who have a spare bed or sofa. I’m trapped in a vicious cycle of debt, which is preventing me from renting a home and getting back into full time work. I’m desperate for some help with my finances. Please read my story below. Ultimately, I’m asking for a second chance and if possible, I ask you to please consider helping me: paypal.me/j922.
Growing up I felt a lot of pressure to be successful. It’s unfortunate that earning lots of money was central to my perception of success. I forewent opportunities to pursue my passions and instead pursued a career that paid well. Being paid well came at the cost of my happiness. I filled the void with spending and racked up a lot of debt, which peaked at £25,000. I found myself in a position where I was shackled to a job that I hated due to my debt obligations. Eventually I recognised the futility of my position and began paying down my debts so that I could leave and retrain for a new career. Unfortunately, last year the stress and pressure of the job became too much. I suffered a severe mental breakdown, and I was forced to leave the job. At this point, I was still in £12,000 of debt.
In September last year I had to leave my home because, without a job, I couldn’t afford to pay rent and continue to make monthly payments on my credit card and loan. I am fortunate that friends and family have offered to take me in. However constantly moving around staying in different beds, on different sofas has been unsettling.
Since December I have found some work, but the pay is low, and the hours are not guaranteed. Using money from the part-time work, I have been studying for a qualification to get into a career that I’m passionate about. However, in my current position I’m barely making enough to pay my monthly loan repayment of £485 and my minimum monthly credit card payment of around £320. In fact, this month I don’t have enough money to cover both. I have over £10,000 on my credit card and it’s only growing with interest. I’m due to finish my qualification in a couple of months and I’m keen to get started in my new career as soon as possible. However, it’s going to be incredibly difficult to get a job without a stable home, I’m constantly at the mercy of friends and family. While the small income I have available is being more than absorbed by my debt payments, it’s impossible for me to save for a deposit to rent somewhere.
My debt is a contestant source of anxiety and stress for me, it’s had a huge impact on my mental health. I finally feel like I’m on the right path with my career, but the debt is still weighing me down and creating a barrier to getting started. Therefore, I’m asking for some support with my loan repayments and paying down my credit card. Any help you can provide will be endlessly appreciated: paypal.me/j922.