Advice needed... serious debts!

[Deleted User]

Hi, not really sure how to start this or what I should say but I'll start with how I got in this mess...


I've had a terrible gambling addiction for about 3 years now which has resulted in me first using all my savings (around £8k) before continuing with money that wasn't mine. I started by putting the balances on 0% balance transfer cards but found I was still using the cards for feeding my addiction. Problems recently meeting the minimum repayments has resulted in me taking out a couple of payday loans. It felt like the only solution at the time but I realize I should have stayed well clear. I should mention that I am getting help for my gambling and have excluded myself from all of my regular bookies.


I'm employed full time and don't expect my salary to change for the forseeable future. I'm very lucky to live with an understanding friend who only charges me the bare minimum for rent, which includes monthly expenses etc. I'm single so the only source of income is my salary and my only assets are my car which can't be worth more than £3k.


I'm hoping someone here might have a similar experience to me and could offer some advice on my next steps as meeting the minimum repayments is going to be a problem until the payday loans end at the end of March 2016. My total unsecured debt is around £35k, i'm deep into my overdraft and have credit card payments due for payment this month. I've let this get far too serious before doing something about it but would be grateful for any advice.


I've completed an SOA but I'm not sure how to upload it. Any ideas?


Thanks for taking the time to read this, I'm grateful for any input.

andyfromotley

Hi ParkLane.

Welcome, i am a Compulsive Gambler, fortunately i have been in recovery for a nember of years but i never forget that i am only ever potentially one day away from another bet. Controlling your CG is your number one priority. I always urge everyone to use Gamblers Anonymous. If you dont get control and REMAIN gambling free then any other advice is piontless.

Given the size of your debts and i assume an averageish salary your situation is probably going to require some form of debt relief, perhaps bankruptcy.

Seek advice from one of the following. National debtline, Stepchange, CAP. They are organisations that are respected on this forum. They will not charge ypou for help, EVER.

There is a button on the SOA which says format for MSE. use that to upload your soa.

Welcome, and stick around, there is a way out of this.

Andy

bexster1975

Hello ParkLane

I'm sorry to read your story. Andy is quite right. I am related to a CG and getting help for that has to be the start. A SOA will help people to help you sort your financial situation.

Keep reading, there are lots of people who have been in similar situations ( both financially and with addictions) on here and many of them are making great progress so that should help you see it can be fixed.

Very good luck to you with your next steps, don't disappear, keeping a diary may help you stay accountable.

Bexster

[Deleted User]

Hi Andy


Thanks very much for your reply.


I agree that the most important thing is getting my gambling in check. I've self excluded myself from all the websites I used (always been an online gambler). I haven't made a bet for just under a month, hardly a recovery but it's a start!


I'm really worried with my credit cards coming up for payment this month and next to nothing left in my account. I'm really at a loss of what to do.


I've tried to use the MSE button on the SOA but I just get a new blank screen open. User error I suspect!!

[Deleted User]

Hi Bexster, thank for your reply.


As someone who is related to a CG I'm sure you can understand how all consuming it is. I've buried my head in the sand for far too long pretending there was no problem but now the debts are looming over me it's given me the much needed wake up call, be it far far too late.


I intend on sticking around and getting in top of this no matter what it takes. I've spent the day putting unwanted bits and pieces on Ebay (every little helps). I will beat this and turn things around.


Still struggling with my SOA, doesn't seem to load properly

bexster1975

http://www.stoozing.com/calculator/soa.php

So, I've not posted an SOA on here before but link above should do it.

I might suggest calling step change or national Debtline as I'm not a debt specialist and they will def be able to help you ( for free) make next steps with creditors if you can't afford to pay.

https://www.nationaldebtline.org


It's very easy to say, but try not to panic. Lots of people on here have been where you are before and come out the other side.

Bexster