22 Years old and 12k in debt

RichieParl

Hi everyone,

With the new year I am looking to devote my 2020 to clearing my debts. I have accumulated my debts through gambling with Loans/Credit Cards/Overdrafts.

I have a stable job with a stable income, I just wanted to know if anyone has been through what I have and can give me any tips or advice which may help me along the way.

Cheers!

dan958

This entire website is what you can use for tips, just do some searching.

To get better help in this thread, more information is needed. Complete a state of affairs; https://www.lemonfool.co.uk/financecalculators/soa.php and then post the results here. With this information, people can start provide some assistance.

Willing2Learn

RichieParl wrote: »

...With the new year I am looking to devote my 2020 to clearing my debts. I have accumulated my debts through gambling with Loans/Credit Cards/Overdrafts.

I have a stable job with a stable income, I just wanted to know if anyone has been through what I have and can give me any tips or advice which may help me along the way...

Hi and welcome to the forum

If you want advice on how best to tackle your debts, then please post up your Statement of Affairs (SOA) into this thread. An SOA is a great starting point, as it looks at your monthly budget in detail.

zippygeorgeandben

Have you actually kicked the gambling? I think that's the most important part. When did you last place a bet?

TriggerHappy

You won't get your debts sorted until you've addressed your gambling... I speak from experience...

Get everything blocked and self excluded, then post an SOA here on the forum.

Retireby40

Hello OP.

First thing you need to address is the gambling. What do you gamble on? Where do you gamble? Do you gamble with friends as a social activity or solo?

Next question is your living arrangements. Who do you live with. Parents? Partner? Solo?

Also how much do you earn and you rough expenditure on necessities. Such as rent/food/travel to work/car upkeep general things that are needed.

When you give us this information I will certainly be able to give you some solid advice. As will others. All of the above may seem nosey. But theres a reason I ask each thing. And those factors will help you if you take the right actions.

SimonBck

Well done for admitting you have a problem and now want to face it and deal with it. If you have not already done so speak to someone who you can trust and will support you. Don't do this alone. In terms of your debt, you are in the right place to get some advice. There are some very knowledgeable people on here. You need to think about your credit report as well as this situation could have long term effects.