£30,000 gambling debt need help!!!

DarkConvict

To address a post further up, i do not believe bankruptcy would work as these debts are excluded.

Contributing to the bankruptcy by gambling or extravagance;
Incurring debts with no reasonable prospect of being able to meet the liability incurred;
Entering into transactions to prefer friends or relatives ahead of other creditors or at a value less than the true value

http://www.debtadvicebureau.org.uk/news/2005/20051104-bad-news-for-bad-faith-bankrupts.shtml

Frozenace

Jamesey,

that's up to the person to decide what to do with their life and I agree that some of your points have merit, but they are not appropriate.

He's got quite a high paying job, so if he:

1) self-excluded himself from all the accounts
2) attend a workshop of sorts
3) seek help

then he might have a chance.

To be honest, if he doesn't start now, he'll be homeless, jobless etc very soon.

Maybe watch Spendaholics for a starter.

I used to gamble quite heavily, but came out pretty much even, now if I lose, I self exclude, simple as that.

You can't beat the odds of the Casinos.

itsalongroad

Original Poster

Attack the route issue here 1st - your gambling. Go to GA you will find people in similar situations, or worse who are sympathetic and are struggling to tackle their addiction

Do not use any more credit / or consolidate any debt which will allow you access to existing credit

Please dont think of this as a financial problem , but as a lifestyle and behaviopural one.

I gambled for 15 yrs, and ended up with 75k of consumer debt, after reconsolidating and remortgaging as well. I am now paying back - and have halved my debt so far, and not gambled for 2 yrs. I have seen a lot of people give up gambling but go back to it as they
- chased their losses
- gave up due to size of debt mountain
- paid debts, but left credit avenues open which lead to temptation

You will sort things out, but dont rush. Concentrate on yourself not on the debts. Take small steps, and remember you can sort out your moeny, your life and your peace of mind, but dont think like a gambler, think like a measured individual who is wise and learning from mistakes

go to ga

and good luck

dancingfairy

Hi. I am glad that you recognise you have a problem and need help. Whether or not an IVA is suitable for you will depend on many factors and it is not possible to say from the info given. You need to get proper and free advice 1) with the gambling and 2) with the debts but you need to have tackled the gambling first.
I am glad that someone has posted the link to the gamblers and exgamblers support thread hopefully that will help you.
I'm just sorry that there are always people who want to troll and make stupid, unhelpful comments or who think that people are here to shirk responsibility and get out of paying money back at any cost.
Please ignore the immature comments some people have made on here.
df

Pobby

To the OP. It`s hard to quit alone so I guess some support would be a help right now.

http://www.gamcare.org.uk/

Have a look at this site. There is so much help and support.

fermi

DarkConvict wrote: »

To address a post further up, i do not believe bankruptcy would work as these debts are excluded.


http://www.debtadvicebureau.org.uk/news/2005/20051104-bad-news-for-bad-faith-bankrupts.shtml

Gambling debts are no longer excluded from being wiped out by bankruptcy.

However, where gambling is the principle cause or a significant factor in a bankruptcy, you would be looking at a HEFTY Bankruptcy Restrictions Undertaking/Order.

That extends the restrictions of bankruptcy for 2 to 15 years. For some people that is no bad thing, as it limits their ability to get credit.

cantcope

Hi gamblermug. Well done for getting on here and admitting you have a problem. The people on the DFW will offer sound advice and support just as they did when i first admitted my problem and debt.
Please come over to the other thread http://forums.moneysavingexpert.com/showthread.html?t=1090463
we can offer you support, advice and our experiences to help you deal with the problem. Have a read through the whole thread and you'll see that life can get better and once you stop gambling your debt will not get any worse. If you continue I guarantee it will.

Good luck x

flatbroke49

I can very much sympathise with you regarding your gambling. I have got myself into a similiar situation and have gone on a dmp to repay my debts as I ran up credit cards, loans ect. to pay for my addiction. I have found the previously mentioned forum extremely helpful and also a free gambling site block Blue Coat K9. It is intended for parental use, but it blocks out gambling sites as well. When I did this I did not have the money to pay for the gambloc site and therefore this was a lifesaver. The only tip is to get someone else to set your password then you cannot overide it. I wish you well on your journey and with the support from the folks on these forums you will change your life. I dont normally post, I am a lurker (lol) but felt the need to let you know that you are not alone and help is available.:A

Tweezer

Gambling is often cited as a major reason for personal bankruptcy, and yes if those debts are on cards and loans you can include it in your bankruptcy.

You should take a look at the stories of some of the Bankruptcy Heroes site, you'll see what sort of mess people got into, and they do get further sanctions imposed on them in the form of BRO's.

There's a link to the BR Heroes on the 'Bankruptcy & Living with it Forum' under the thread 'Famous Bankrupt's Past & Present'. It's eye-opening stuff.