Out of control debt and no idea how to tackle it, please help

Stuckinarutt

Hi,

Please can someone point me in the right direction as I am so confused about my out of control debt and have no idea how to tackle it.

Brief Overview

I started taking out loans and credit cards while I was at Uni 12 years ago, this quickly got out of control and severley affected my credit file, I was very naive.

Since then I have never really managed to get on top of my debt situation, I have always moved debt around, taking out loans to pay other ones and so forth. The truth is that I have suffered with a gambling addiction for many years which has ruined me financially and have only recently managed to get on top of this and start turning my life around, but now though I have to face my responsibilities and debts that I have been running from for so long.

My debts total around £17k of unsecured debt, these included banks loans, overdrafts, paydays loans, unpaid gym memberships, basically everything over the last for years just spiralled and now it is such a mess.

It has got to the stage where all of these debts are with debt collector companies and resulted in a bailiff visiting my mums house this morning, which has really shock her up and I feel dreadful, I really need to get a grip on this.

I am fully employed now and am renting a room in a friends house, I am really starting to turn things around but just have no idea where to start with this, whether bankruptcy would be a good idea, IVA or a debt management plan, I know my credit file is ruined already but not sure of the real implications these will have later on.

I know I have been extremely irresponsible with these debts and letting them all get to this stage but I am ready to face it now, if anyone could give me any advice it would be greatly appreciated.

Thank you

kwmlondon

Okay. You've done a really big and important thing and it's been the hardest thing you'll go through. I had it on a small scale when I left uni and the bank took away my direct debit card and I had to really confront my debts. You've been allowed to go a lot further, but it's still something you can sort out.

First step is see citizens advice. It seems like you've got an idea of your debt, but you need to bring full details. It will involve reading ALL the letters and statements.

From now on it's a process that you'll have to follow, but get help from a CAB.

Oh, and tell your mum that she needs to turn away any debt collectors. Under no account let them in, ever, ever, ever. You don't live there. She's under no obligation to tell them anything.