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Huge Gambling Debt Age 26
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I can't offer much more advice than already given, other than you've got time on your side. You're 26 - you could go bankrupt now (say 27) and be financially ready for a mortgage by the time you're 35. Try to remember that it's just money, and tackling your addiction is where you main priority needs to lie.
Yours,
(Someone who went bankrupt at 23, mostly with gambling debts)0 -
On a different but related point the next Government to say they will ban FOBT will get my vote.
Even if you aren't a gambler, take a look at gamcare and you'll see new threads every day from people who are genuinely wanting help. Of course it's such a great money spinner for them though.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0 -
Hi, mate
Reading your post felt like a twin script of my life as it stands, even the figures and stats are alike.
I got into gambling about three years ago when I started playing footie accumulators, won 80 quid on a free bet and got hooked on to it.
Three years on, it has ruined me, wasted my savings, took loans, credit cards. Overdrafts to feed it.
I had a great credit score and got the higher limits on cc easily and the same for loans and unfortunately now as you said no bank will touch me.
My wife has helped with her savings to an extent but the huge amount of debt remains unmoved year after year. She has also hoped to own a property and start a family but due to my gambling addiction and debts seems like a fantasy as it stands.
I have been depressed and suicidal for a long time now, been very close to attempt it, guess didnt have the balls to get through it..
I wish I could go back into my past and reverse what I got into, unfortunately...it's not possible0 -
Hi,
So I have been in your situation, i was addicted to online slots, I had debts of over £30k, and I was gambling all my pay each month. I self excluded myself on as many sites as I could, and contacted PayPlanPlus and sent up a dmp, which was 6 years ago, I only have £5k debt now and 12 months to go on my dmp. It's not been easy by any means and I have had the odd slip up where I've gambled again but just reminding myself of that awful sick feeling in the pit of my stomach has made me realise I can't carry on. Sometimes if I add myself to a new site I will be able to self exclude straight away. To be fair I think I would struggle to find a casino now online that I haven't already excluded from or a sister site.
Good luck, you've got this.LBM- may2010:A0 -
Just wanted to add my bit in, I went bankrupt at 30 mainly due to gambling and now it is due to fall off my credit report in 4 months time and I will be looking to buy a house and will have saved a 40% deposit.
It was the best decision for me at the time.
I know you have guarantor loans which will change things as with a bankruptcy you can't favour one creditor over another so there is that to consider.
But suicide doesn't solve any problems, it just transfers the hurt to someone else.
You also said if only I could get £30,000 you'd be sorted but don't try to do it all in one go either, I suspect this is why you continued gambling as well, you just wanted to win enough to pay off the loans and get yourself back to being level. I know because this was my justification to myself at the time.
Stay strong brother0
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