First Time in debt - advice needed!!

daveg33

Hi all, I am really needing some advice about my situation. I am 27 years old and for the first time in my life I find myself with real debt worries. I got myself into this position through an online casino gambling addiction which I came clean to family and friends about and through seeking help feel I have this under control. During my down period I missed council tax payments, electricity and gas payments as well as missing payments on a high interest loan and accumulating credit card payments.

I accumulated bank charges which I am seeking to get back after finding this site, even though I don't deserve them back since it was my idiotic behaviour that got me into the trouble in the first place. I have also contacted my utilities suppliers and came to agreed payment schemes that suit both of us and will prevent any disconnection. This was a huge step for me as I was hiding from the debts before.

Now I have the council tax summary of account to pay @ £1346.23, and fear a wage arrestment as my employer will find out.

Welcome Finance loan @ £2759.92
Capital One CC @ £539.88

I clear just under £1500 er month and after living costs/car costs etc are taken off there is no way I can afford to pay lump sums to all 3 of these. I have also been rejected for a few loans recently so do not think that will be an option.

If there is anyone around who has been in a simillar situation and can give me some advice on how to face up to these debts I would be sincerley greatful. Thanks for you time.

lynzpower

hiya dave

Welcome.

Your best bet to start off with is chck out southern scousers "first time posters". It gives all the details of how to do A SOA ( statemetn of affairs)

post it up once you are done, and we can all advise

Hang in there, plenty of support here for you whenever you need it

bargainbetty

Hello there,

Welcome to the boards!

First, bank charges have been proven to be unfair. Claim back what you can and don't feel bad about it - you might have been silly, but it's no reason to be a martyr!!

Use the posting by SouthernScouser to post a statement of affairs - it will give the lovely people on here a chance to recommend ways in which you might save a little/earn a little more.

You will also find template letters to write to creditors, explaining your circumstances and offering an affordable payment plan.

Contact the CCCS (links on this site) to get more advice. They will help you deal with creditors and set up a structured payment plan that will allow you to live within your means.

Think about stuff you might have laying about the house - could you Ebay things to raise a little cash?

Mainly, take a deep breath and take it slow.... baby steps all the way.

Good luck x

jo1972

Hi Dave and welcome :wave:

Do as Lynz suggested and have a look at the newbie thread and start preparing your statement of affairs then the good people on here can tell you where to make changes and what to do.

I gotta shoot out now but will be back later to see how you're getting on!!

Jo.x

david_hellier

'ello Dave.

SOA please.

hooters

Hi Dave,
Well done on admitting the problem, I messed up our finances through this evil addiction.
Second step is not to stress, it will reduce your willpower to sort this situation out and fight the habit.
I joined gamcare.org.uk, they are very supportive. I am also seeing a counsellor, I owe it to myself and my family, whether I feel I need a counsellor or not. It also shows willing to overcome this to any creditors or a judge, should the need arise.

Keep smiling, you'll get it sorted.