Daily Life | I’m in debt

I’m in debt and unemployed

Radio Presenter:  Good morning, my name is Rosie Hakes and this is today’s version of Me and you. Debt is today’s discussion. Debt has increased rapidly over the years and many people continue to spend money which they don’t have. One such person is on the line now. His name is Dave from Lincolnshire. Hello Dave . .

Dave: Hello

RP: Dave I believe from our preliminary discussion you are in debt. Because of your current medical problem which you say has become worse over the last six months, you cannot work – is that right?

Dave: Yes it is. I haven’t worked now since I left University – that was over 20 years ago.

RP: Have you been ill all that time?

Dave: I developed my illness at university and I suffer from stress in a work situation. To compensate I write short stories but don’t have a novel in me.

RP: Interesting! So Dave, how much debt are you in?

Dave: Almost £12.000 on credit cards and overdrafts

RP: and what is your income whilst on benefits?

Dave: Around 10,500 a year which doesn’t include over £7000 in housing benefits.

RP: so, you and your family lie on just under £900 per month

Dave: yes

RP: how much are you repaying every month to the Credit Card company

Dave: Its a fixed amount of just over £100

RP Surely Dave you can’t be making much headway into repaying the debt.

Dave: That’s right. IN fact, the amount never decreases

RP: How did you get into debt?

Dave: I applied but was economical with the truth. I told them I was a homemaker and that my wife worked.

RP: What does your wife do?

Dave: She’s a carer for our youngest son who has Down syndrome.

RP: why did you apply for the credit?

Dave: every summer our children would tell us where their friends were going on holiday. I thought then they too must have a holiday. So, I borrowed the money to take them on holiday. I bet that will have a few of your listeners spitting at the radio?

RP: I take it your wife doesn’t know?

Dave: No she doesn’t. In fact, I have a confession to make. I applied for a bank account and credit card in her name. I have run up around £4000 worth of debt in my wife’s name

RP: Your wife doesn’t know . . . So Dave what are you going to do?

Dave: I was wondering why the Credit Card companies let me get into this mess

RP: But Dave, you lied on your application form

Dave: I’ll just carry on paying the money and hope interest rates don’t change else I’ll be in trouble and won’t be able to repay the money