100% agree on that! It is crazy to give a bunch of 18 year olds, most of whom have lived with their parents their whole life, £1000 in one hit at the start of each term. Most of them have only ever budgeted for small things before or at most saved for a holiday abroad with friends post A-level. They see the £££ signs and before they know it, it is all gone. I know very few people who didn't end up in debt with overdrafts and credit cards whilst at uni. The 'lucky' few had rich parents to pay it off but the rest ended up stuck with debt and realised a few years later what a bad idea it was. Not making excuses but some good, compulsory lessons in budgeting and in finances in general would be a great idea. Not to mention a change in the way installments are paid (weekly rather than termly).

I think it should be part of the National Curriculum to advise school leavers how to manage their finances, invest and not live of credit. Some harsh life lessons could probably be avoided this way. It's probably just as vital as sex education is.

It almost makes you regret uni, doesn't it! I have been in the exact same situation and still am. I have found that usually the people on the phone at the general customer service number are so unhelpful it is untrue! I was on the phone to 45 mintues whilst I was passed back and forth adn told that no one could help me at one bank. Then they finally gave me another number to call. By this point I was in such a state I was crying and the first thing the man I spoke to said was 'don't worry. I will help you so please calm down'.

They will eventually help you, I think they have to by law. Unfortunatly it is a real battle. First of all, I would go and see your bank manager, face to face. Be hounest, explain what has happened and he will probably be very helpful or will at least provide you with some advice on what to do. Good luck.

As a fairly recent graduate myself I can appreciate your situation. What I suggest you do is make arrangements with all of the lenders so that you can pay the debts back at a rate that you can afford. It will probably have a very negative affect on your credit history though because paying back at reduced rate to the original agreement constitutes what looks like arrears/missed payments on your credit history.

For this reason it may be difficult to obtain a consolidation loan because lenders may feel you will still not be able to make the payments to them plus you will score low in terms of your current history (which you have acknowledged yourself).

You can obtain a credit report and add whats called a "Notice of Correction" to it which is a small explanatory statement in which you can give your resaons for being in your current situation and what you are currently doing to resolve this.

I am very concerned about my finances after 3.5 years at university. I have 3 overdrafts and 3 credit cards, amounting to £8550. I also have a student loan and a car on finance (167.50) to pay each month. I have just qualified as a midwife and am in the process of applying for full time jobs.

At present I have creditors on my back with no way of being able to repay. I am wondering what the best course of action is. I have arrears on my credit card and 2 of my overdrafts are demanding final payments. I was hoping to get a graduate loan after University to consolidate all my university debts but my credit is too poor to do so. I am also struggling to get some jobs due to background credit searching. It seems a never ending circle that I cannot get out of. I am due to finish my training on the 1st February. In regards to finances what would you suggest is the best course of action.

I have already contacted my creditors and informed them of my situation however they were unsympathetic.