Help please - my man has been using loans to gamble

barnettsarah

I have recently found out that my partner has been gambling, it all came to a head a week ago, i have taken over his bank to try to sort it out.

The BIG problem is ALL the loans -11 so far which i've found - are the 'payday loans' kind of loans eg. payday uk, quickquid, minicredit, tower credit, to name a few.

They seem to have no paper work as they are done over phone/internet BUT all have his bank details and set up direct debits and try to take money whenever they like from his account.

Because of this, he's had bank charges for unpaid direct debits as he does not know how much or when these have been due to be taken

S on top of the loan payments he has bank charges for £125 this month along, courtesy of HSBC.

I really want to pay them or make arrangements with them, but have no paper just endless junk emails which are no help at all.

Next Friday - 9th - there are supposedly 4 of these loans payments coming out, childminders fees to pay, bank charges of £125 as above, plus he is due to pay a regular loan which he took out with his former partner, which not surprisingly is in arrears too.

Family have been made aware of all this and are helping with support but cannot do anything financially. They sugested cancelling all the payday loan direct debits with the bank which at least should crystallise the situation and make sure next week's payments can be made with no more bank excess charges being caused, but surely that would really much things up with all tehse loan companies.

I really really do not know which way to turn to where to start.

A friend suggested this site where they had received advise before so I am asking any of you that can help just to give me an idea where to start

PLEASE HELP WHERE TO BEGIN ????

dmg24

Hi Sarah, welcome to MSE.

You would be best to post this on the Debtfree Wannabee board. They can give you details of debt charities that will be able to help you negotiate with the lenders.

barnettsarah

Thank you ever so much, I'll leave this tread on here, but also copy my post on the otehr board

mattlfc79

Can he close his account to prevent payday loan sharks from nicking all his money?

Then deal with them via letter and make a proposal to reduce the debt monthly.

Maybe national debtline could advise?

Hope it works out for you!

mrcow

Cancel all of the direct debits now. If you have online banking, you can do it immediately - if not, do it via your telephone banking or go into a branch. Cancel everything that is not 100% essentail (eg. mortgage/rent/utilities etc). You can deal with everything manually for now to stop any more bank charges.

Get a copy of his credit reports - today online - from both Experian and Equifax to see exactly what you are dealing with here.

Write to the companies involved and ask them for the credit agreement that he will have signed. This will include details of how much he owes, what the APRs are and what terms he signed up to.

If any of them need payments, send them cheques (do NOT give them any debit card etc details for his account or for any of yours - all payments are to be by cheque until this is sorted out) for £1 or whatever you can afford along with a letter stating that this is a token payment until you have the correct paperwork from them.

Come back when you have more info on what you are dealing with and whether you can actually afford your repayments. You'll need to do a statement of your accounts (including all your incomings and outgoings) to find out where you stand.

More to the point - what are you doing about his gambling addiction?

iolanthe07

Unless he sorts out his gambling addiction as a matter of urgency, believe me, he will ruin your life, as well as his own. Get him help - gamblers anonymous is a good place to start. I agree that he needs to close his bank account to stop them taking money and open a basic account, one where his pay can be deposited but with no overdraft or loan facilities. Cut up all his cards too.

barnettsarah

Thanks for the advice! great to have people who understand and help.

copier_guy

Check you debit card. some of these companies keep debit card details which means they could possibly take a payment. Maybe you could 'lose' them