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Chasing Losses Left me Broke.
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I also think it would be best for you to relinquish control of your wage until you have overcome your gambling compulsion. Cancelling all cards is another thing you should do so well done for cutting up credit cards. Deal in cash only for daily, weekly pocket money.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
The 365 Day 1p Challenge 2025 #1 £667.95/£667.95
Save £12k in 2025 #1 £12000/£150000 -
Dealing in cash - haven't done that for ages but i can see the benefit of it. Who knows, I might get the new £1 quicker!
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Forgot to say - I've had a few missed calls this morning from the payday loan companies. The letters will be sent today so they'll receive them tomorrow. Should I speak to them and tell them of my situation or wait for them to receive the letter?0
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Anyone?
Managed to arrange some counselling. Waiting for the appointment to come through.0 -
I would do everything in writing and ask them not to phone you.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
The 365 Day 1p Challenge 2025 #1 £667.95/£667.95
Save £12k in 2025 #1 £12000/£150000 -
Thank you. I'll send the letters today. Can they still add all the fees etc if I've asked them to freeze my account for 30 days? Talking of Payday Loans mainly.0
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Thank you. I'll send the letters today. Can they still add all the fees etc if I've asked them to freeze my account for 30 days? Talking of Payday Loans mainly.
They may still add interest and charges but in the letter you’re asking them to be reasonable and stop them as you're having financial difficulties. There’s a useful page here which links to a complaint which the FOS upheld where interest wasn’t frozen for someone experiencing financial difficulties.
https://debtcamel.co.uk/creditor-wont-freeze-interest/
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thanks for that. A very handy resource.0
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I've just spoken to HSBC and they say they will action a default notice and pass on the debt after 7 missed payments. If i am going on a dmp would i want the default to occur sooner rather than later? Waiting 7 months is quite some time away. Not sure what to do now. Any advice please? Thank you.0
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Anyone with more experience able to help?0
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