Hope someone can help

[I am in a huge mess]

Hi - Hope someone can help. After 3 years of illness and an attempt to start my own business I find myself owing approximately £25,000 in Credit Card and Bank Loans. I have managed to pull myself back from the brink mentally and began a degree course last September funded by Student Loans and a Maintenance Grant. I also work 16 hours a week.

For the last 6 months I have been funding my loan and credit card payments by drawing cash from my credit cards but they are now close to their maximum.

I have no valuable assets, I rent my home and have no dependents. I do have a car (value £3K).

The Debt Advice agencies advertised on the TV are only interested in the full time employed - so I feel my only option is to declare myself bankrupt.

I am concerned that if I go down this route I will not be eligible for next years Student Loan to continue my studies. Does anyone know for sure?

I have tried the Student Loan web site but cannot find anything.

What should I do?

Desperately seeking advice.

[ukmoneyadvice]

Hello there. It is best to talk through you whole situation with a Qualified Debt Adviser. Bankruptcy can often be an option, but consider all first. Remember, this is about what is absolutely the best solution for you, in your situation.
You could give yourself some breathing space and write to your creditors, we would also be happy to do this for you FREE of charge. We are a non-profit agency assisting people with all sorts of debt problems. There are also many people on this very helpful site who can offer advice. Try to avoid paying money to people unless absolutely necessary. We are more than happy to speak to you if you so wish. Good luck.

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ukmoneyadvice
Your input is refreshing and much needed,welcome.