I owe £18,850 and don't have a job

rockabilly_rebel

Hi guys

I am new here, please bear with me and I am after help not critiscism. I owe £18.850 to someone (prefer not to go into this in depth if you guys dont mind). And only receive Jobseekers allowance £96.80 a fortnight. Also I owe Barclays about £2800 in a CDL and they have agreed to take £25 a month.

I have not that many outgoings as I had to give up my flat.
I pay out £25 a month to Barclays.

I am wondering if there are any ways I can raise extra money to pay towards the debt.

I have been doing matched betting to raise funds with money that I do have. This is helping raise a bit, but I dont have a big enough float to earn large amounts

SOA = £193.60

Outgoings = £25 a month to Career Development Loan
£30 a month to guitar lessons (My only pleasure)

= £138.60 a month, Best case scenario is to pay this into the debt fund. How can I somehow boost my income? Besides the obvious of looking for a job

I am desperate for any kind of advice or help.

Cheers guys

LeeSouthEast

Well, besides the obvious, do you have anything to sell? Skills you can sell? Have you posted your SOA so we can interminably pick holes in your budgeting skills and try and save you money on your general outgoings?

chalkie99

No job, deep in debt and squandering your benefits on gambling.

It's not really a plan.

mrcow

Matched betting isn't gambling.

It's bonus bagging.

talana

chalkie99 wrote: »

No job, deep in debt and squandering your benefits on gambling.
It's not really a plan.

Matched betting isn't the same as gambling, assuming the OP know's what he's doing on that score.

OP, try here for ideas in the first instance.
http://www.moneysavingexpert.com/protect/make-money

chalkie99

OK - I Googled it and found this from the first hit:

The matched betting guide section contains a free and comprehensive step by step explanation on how to use this technique to make over £1,000 without too much effort.

So there you go - it's the bookies who need help - not the OP

RecoveringAlcoholic

mrcow wrote: »

Matched betting isn't gambling.

It's bonus bagging.

If nobody loses, where does the money come from?


.

LeeSouthEast

Same place as quantitative easing.

Ames

I thought JSA was 50 a week if under 25, how come you're getting less than this?

mrcow

RecoveringAlcoholic wrote: »

If nobody loses, where does the money come from?


.

The bookie loses. They lose the bonus that they use to incentivise you to bet with them.

You place a bet at the bookie.
You match the bet at a betting exchange
You end up evens.

Then.......

The bookie gives you eg. a £50 free bet which you place (the offers are usually place a bet, get a free bet)
You match that bet at the betting exchange
You end up £50 up (minus any betfair commissions and odds differences)

Then.....


You move onto a new bookie and start again (there are loads to chose from)

it's easy when you know how and it's quite simple to earn £1000 of spare cash within a few weeks of starting.

rockabilly_rebel

Ames wrote: »

I thought JSA was 50 a week if under 25, how come you're getting less than this?

I got given a small crisis loan of about £89 and pay off about £5.10 a fortnight to pay it back