Need help choosing a solution. Debt since 18

sourcrates

Karonher wrote: »

As for your debts, have you concidered a debt relief order ? Google it, see if you qualify.

OP has £650 a month spare. As the car lease is £150 a month I would think it is worth more than £1000.

Hmmm, not an option then, a proper SOA may be helpful.

chevalier

I actually really sympathise with you. One of my relations was/is a gambling addict. It is a horrible addiction, one where you are always thinking, the next bet is the sure thing, and I will be able to pay everything off/back. The sick feeling when you lose and you realise you have just made the problem sometimes literally twice as worse is horrible.

So as I say I sympathise with you probably increasingly desparate attempts 'to get straight'. The Nationwide agreeing the loan must have seen like manna from heaven. And when you are in the throws of any addiction you can justify any behaviour.

But now you are clean from gambling and that is a massive achievement. Well done for that :T. So now what to do.

First of all what advice have you got from your dad? He must be in the know if he is basically doing all of your finances for you, and I would imagine he has an idea of the best way forward.

My thought would be that the two betting shops may not have complied with their own policies about stopping vulnerable people from gambling. Isn't there a code of conduct about this? Possibly you might be able to get some of the money back?

Regarding whether or not a bank/pay day lender did something illegal by giving you the money, I don't think is something you should look into. By, in desparation , I am sure lieing about how much you were paid, it is possible they might try and come after to for fraud. However I agree with you that there is no way they should have lent you that money, especially without wage slips that is just nuts on their part, and I am pretty sure wouldn't happen now.

If you are going to start tackling the debts, then you need to get all of your ducks in a row first. Can you give the lease car back and free us some money from there? But in the end it is your moral choice as to whether you duck and dive for another three years, or whether you think this is too long to wait and so try and make a start.

I would definitely get some advice from an impartial source. CAB or even Stepchange over the phone.

Try not to panic too much. You should take steps to sort this lot out now. Before you start wanting to settle down and then find that this debt and the credit score implications of it start holding you back. So as I said my first stop would be to call Stepchange or see the CAB. For the CAB ask to speak to a specialist debt advisor and take all of your paperwork with you.

Also remember that if you did do a DMP or similar then it won't take 10 years to pay back, because you are going to make something of yourself aren't you so that you get a much better wage!:T:T

good luck
chev