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Advice & a hug needed

cheekyvimto
Posts: 122 Forumite

Reading other posts on here has made me realise that its time I faced up to my problems too. Over the last six months my finances have just been getting worse and worse. I have been under a lot of stress which has caused me to become depressed (now on anti-depressants) and stupidly I have also become addicted to online gambling.
From the gambling point of view, today I closed my gaming account and am considering attending gamblers anon meetings.
Now for my finances..... which really made me face reality! I currently have £24.67 to my name, owe about £200 due in the next 7 days and have over two weeks to wait until payday. I have done a list of my SOA:
Monthly Incomings: £1,282.26
Monthly Outgoings:
Mortgage/Rent - £350
(includes all bills / c tax)
Phone - £20
Food - £120
Petrol - £60
Union Membership £13
Total: £563
DEBTS
HSBC Credit Card £3997.25 (limit £4000) 15.9% min £119HALIFAX ONE £2079.49 (lim £2100) 0% for 11 mths Min pay £42
HSBC Overdraft £1500 (£1000 @ 0%)
(£500 @ 15.9%) No actual min rep
LOAN Bal £7200 apr 6.4% 23 months to go £340
TOTAL DEBT PAYMENTS min £ 501
so income = 1282.26 outgoings = £1064
Recently I applied to RBS for a 0% apr cc (declined) as was a loan from the nationwide. Despite my gambling I dont think my credit rating is actually too bad. My current thinking is that I try my bank (HSBC) for a 5k loan to reduce apr on the credit card and also to pay off the £500 overdraft that I'm getting charged on. However, I'm worried that my gambling history will impact negatively on their decision.
In addition, as I have no money I have been looking at approaching a payday advance company to provide immediate cash (I know their fees are high but I am desperate).
Sorry for going on, but feeling quite desperate and need to take positive steps to get me out of this mess.
From the gambling point of view, today I closed my gaming account and am considering attending gamblers anon meetings.
Now for my finances..... which really made me face reality! I currently have £24.67 to my name, owe about £200 due in the next 7 days and have over two weeks to wait until payday. I have done a list of my SOA:
Monthly Incomings: £1,282.26
Monthly Outgoings:
Mortgage/Rent - £350
(includes all bills / c tax)
Phone - £20
Food - £120
Petrol - £60
Union Membership £13
Total: £563
DEBTS
HSBC Credit Card £3997.25 (limit £4000) 15.9% min £119HALIFAX ONE £2079.49 (lim £2100) 0% for 11 mths Min pay £42
HSBC Overdraft £1500 (£1000 @ 0%)
(£500 @ 15.9%) No actual min rep
LOAN Bal £7200 apr 6.4% 23 months to go £340
TOTAL DEBT PAYMENTS min £ 501
so income = 1282.26 outgoings = £1064
Recently I applied to RBS for a 0% apr cc (declined) as was a loan from the nationwide. Despite my gambling I dont think my credit rating is actually too bad. My current thinking is that I try my bank (HSBC) for a 5k loan to reduce apr on the credit card and also to pay off the £500 overdraft that I'm getting charged on. However, I'm worried that my gambling history will impact negatively on their decision.
In addition, as I have no money I have been looking at approaching a payday advance company to provide immediate cash (I know their fees are high but I am desperate).
Sorry for going on, but feeling quite desperate and need to take positive steps to get me out of this mess.
Sealed pot challenge: number 083
0
Comments
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Can't help with the advice, but this is a hug for you....
In fact, here is a really BIG HUG!!0 -
Hi cheeky,
here's a hug first now let's see where we stand.
Get hold of a copy of your credit report for free. See Martin's thread on how to do this. This will let you see where your credit rating is at.
Next, as you genuinely are struggling, write to your creditors, tell them and if you think you can keep payments up in the next month, ask if you can miss a month to get level. If not, then you will have to talk to the creditors about reducing payments.
You don't have to do this alone, speak to CCCS or national debtline and they can talk to creditors for you.
If you're gaming accounts are online, there is a software package you can buy that permmenantly blocks your computer so you cannot access them. If this interests you i can dig out the thread for you.
Hope this helps and will post again if i think of anything.0 -
Hi and welcome cheeky vimto.Well done for posting,it is very hard to admit that you have a problem with gambling.There far more experienced people who will be along shortly to help get your finances back on track.I am a compulsive gambler in recovery and I would like to give you this link
http://www.sfcghub.com/cgsf1.html
As this forum is about offering mutual support in getting out of debt,the link I have posted is about other gamblers supporting each other.Apart from being a forum it has a live chat room visited by some wonderful people who are non judgmental and will offer heaps of support.It is,in the main visited by folks from Norh America but there a number of others now coming from the U.K.I say this because of the time change between here and the States.
Good to hear that you have cancelled your casino accounts,a great start.
Please,please realise that there are many of us gamblers out there and many of us now are in recovery.I wish you the very best.0 -
what is the 200 owed for?
is there anyone, family / friend who could loan you the money on the basis you would repay it immediately on pay day
would your bank increase your overdraft limit
why would your bank etc know about your gambling0 -
This link http://www.sfcghub.com/cgsf1.html provides software which will block any attempt to access on-line casinos.0
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This post really demonstartes how debilitating debt can be. You should have nearly 60% of your income left after expenses, which could give you a reasonable lifestyle.0
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Thanks everyone for the advice.
The 200 is for repayments that are due before I get paid. Can't ask anyone for help as my sis has already helped me out as much as she can.
Have flogged anything of value in Ebay too so I think I'll either have to resort to a payday advance company or ask banks if I could miss a month.Sealed pot challenge: number 0830 -
i would go with asking them if you can miss a month. those advance companies are not only a rip off, but it'll just delay the problem till next month when your paycheck is not only 200 short but also minus their fee. tell them you get paid in two weeks and can make payment then. and perhaps can you change the date your debt payments get made till your monthly payday so you don't need to try and keep the money for two weeks.0
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hi just want to send you a hug also ..as you no doubt know yo have came to the right place there are a few on here with problems relating to gambling and are a very nice bunch of people that will totally understand what you are going through i can't offer any advice except to say try your hardest not to go to a pay advance company they are just not gonna be the answer all the best and a huge good luck hug from me0
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Hi cheeky. Well done for closing down accounts & blocking computer. Agree with others that gamblers anon would be a good idea & there are others on here who are in the same position so will be able to provide some moral support & good advice to help you get out of this. Well done for tackling this & starting to sort...big hugs...Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.0
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