Payday loan stupidity - misery

BigDebtBoy

Hi guys

I have made a major screw up, a few weeks back I got a £100 loan out with quickquid (had a couple of other ones over the last 6 months for like £50, and paid them back) however I was a bit worried about being able to pay this back, went onto the site and saw they were offering to top up my loan, now this is my problem, I am a gambling addict (trying to recover but it doesn't help that they are rammed down your throat 24/7) saw this as an oppertunity to win the money to pay for it, ended up getting another £400 and losing the lot (yes i know I am so stupid) so know I owe £170 this coming friday and £750 in 4 weeks
I have no hope of paying any of this back, I am unemployed, think i said I was employed on the forms, can't remember tbh I just wanted some money, got paid today my benefits which didnt even cover fridays payments let alone leave me anything to live off so I decided to try and win enough to do this (I know I know, but my brain doesn't compute till its too late) naturally I have lost all that now so no money for next 2 weeks or to pay even the first set of interest off (how they can get away with even charging £400 interest on a £550 loan I don't know never mind what they will try when I dont pay them)

The worse thing is I went bankrupt just 4 years ago after losing my business, falling into severe depression and gambling so been here before you would hope I would have learned by now wouldn't you , but no not even close
I am living with my parents and its imperative to keep this from them as they have enough to deal with and I will 100% be thrown out this time if I dont chuck myself under a bus

what are my options, I cant even afford to pay them on friday and they will just add up and up and up, what can I do ??

thanks for listening

glasgowsaver2011

BigDebtBoy wrote: »

Hi guys

I have made a major screw up, a few weeks back I got a £100 loan out with quickquid (had a couple of other ones over the last 6 months for like £50, and paid them back) however I was a bit worried about being able to pay this back, went onto the site and saw they were offering to top up my loan, now this is my problem, I am a gambling addict (trying to recover but it doesn't help that they are rammed down your throat 24/7) saw this as an oppertunity to win the money to pay for it, ended up getting another £400 and losing the lot (yes i know I am so stupid) so know I owe £170 this coming friday and £750 in 4 weeks
I have no hope of paying any of this back, I am unemployed, think i said I was employed on the forms, can't remember tbh I just wanted some money, got paid today my benefits which didnt even cover fridays payments let alone leave me anything to live off so I decided to try and win enough to do this (I know I know, but my brain doesn't compute till its too late) naturally I have lost all that now so no money for next 2 weeks or to pay even the first set of interest off (how they can get away with even charging £400 interest on a £550 loan I don't know never mind what they will try when I dont pay them)

The worse thing is I went bankrupt just 4 years ago after losing my business, falling into severe depression and gambling so been here before you would hope I would have learned by now wouldn't you , but no not even close
I am living with my parents and its imperative to keep this from them as they have enough to deal with and I will 100% be thrown out this time if I dont chuck myself under a bus

what are my options, I cant even afford to pay them on friday and they will just add up and up and up, what can I do ??

thanks for listening

Change the bank account your benefits get paid into - a friend/family...someone you trust

Tell the company the full situation

Ask them to stop the charges on your account and set up a regular payment plan even 10 quid a month

Its not as bad as it seems

eyeopener2

Hi

Firtsly you have to address your addiction, mine was alcohol, this is a priority if it is throwing you to the wolves continually. This will keep happening, but you know that.

Secondly, you haven't got anything, you have no money so that puts you in a strong position believe it or not. They can't threaten to take anything because you haven't got anything.

Change your bank acount if you can, contact the payday loan people explaining the full situation, bankrupt, unemployed, etc and offer them a token payment of £1 a month till your sorted. If they scream, let them, what they gonna do? Nothing.

Get in touch with Gambling helplines and sort yourself out. Please do this.

Take care

E2

geminilady

As another poster has said change your bank account or get your benefit paid at the post office.Once an addict always an addict get K9 on your computer now! its a free blocker just shut your eyes and press a few keys so you do not know the password.Also there is a great forum on gamcare all addicts like yourself.

chanz4

Ask the gambling site you use to block your account, then look at changing banks and contact the company

BigDebtBoy

Thanks for your replies and not being judgemental, feel such a fool and sick to the stoamch, no doubt they will try and take the money and I will get hit with bank charges and more payday made up charges on top as well

Idiot,Idiot,Idiot

DevCoder

You did agree to all these charges when applying but you seem genuinely low and upset with yourself so I do feel sorry for you.

Please seek help, both for you gambling and the debt you are now in. Debt charities such as CCCS etc are there to help you.

jamespir

i know how you feel towards the gambling went through a period myself where i thought i could win money to pay the bills but it never worked i would speak to gambleaware they can give you help to stop the gambling have used them myself and they are good

BigDebtBoy

In regards to contacting the payday company do I need to use some kind of template or just a average email saying cant pay them and why etc, do I need to contact cccs/payplan as well or just do it myself

camuk81

Can I ask which companies are they are some work in differing methods and there have been some great hints on here as to how to go about it

BigDebtBoy

Hi cam its with quickquid, only ones who would lend to me with being bankrupt, can't wait till I can get back working and out of this hole I have got myself into