Luke asks :
Hi Lucy,
I'm a 24 year old just finished university and I'm back living at home, on a permanent basis. My problem is I owe my dad a lot of money, it’s all got out of control, he took out loans on my behalf to pay for a car, insurance, tuition fees etc., I've been paying back what can, but unless I can find another job with better pay, or have a miracle I feel like I'm going to be constantly trapped by these loans. I feel like I can't move on with my life until all these debts are cleared. But I don't know what to do? Thank you.
Hi Luke,
Agony Aunts on Female First
This sounds like a lot of pressure on you right now.
Could you find another job to supplement the one you already have? Perhaps if you are working part time you could find another one at nights or weekends to make your weekly hours equate to full time?
Or perhaps set yourself a target of jobs to apply for each week and stick to it so you are constantly sending out your CV and looking for interviews for jobs that bring in more money.
Could you sit down with your dad and work out a realistic payback amount each month that still ensures that you have a little bit spare to live from?
Could you find a way of consolidating all the debt into one so you only have to think about one payment each month rather than many? Whatever you decide, perhaps work with your dad on this and be open and honest about your repayments. He might be a bit more lenient with you than you think and spread the costs over a longer period if he is financially stable.
Maybe, all you can do to bring in more money is keep applying for jobs and try not to get out of the routine of it each week until you find something.
In the meantime if you could find a job, perhaps not your dream job but one that is flexible and brings in some more money, then you might have to settle for that for a little while.
The most important thing is not to resort to gambling or loans as this could get you into further debt that will drag on far into your adult life.
tagged in University yin and yang dad agony aunt
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