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Debt issues amongst others.

edited 30 November -1 at 12:00AM in Debt Free Diaries
83 replies 3.6K views
FloorspeedFloorspeed Forumite
13 posts
MoneySaving Newbie
edited 30 November -1 at 12:00AM in Debt Free Diaries
Hi my name is dave, I am currently working as a contractor in Germany for a while now and want to get back to the uk to my girlfriend.

I have been in debt for over 10 years and pretty much all my adult life due to a gambling problem I have.

I have addressed some of the problems which keep me in debt like not having access to cards and stopping payday loan company’s allowing me credit by emailing them.

I can not thank the uk government enough for preventing credit cards being used on gambling sites that’s for sure which come into affect in April this year.

With all this in mind I better talk about how much debt I am currently in.

£1515 capital one
£999 PayPal
£615 uncle buck payday loan
£600 Satsuma loans
£1000 bamboo loans
£540 Vanquous card
£430 amazon card
£108.50 likely loans

Total £5,807.5

One of the reasons I always fall back to my old ways is because I don’t talk about it. I am hoping by adding this thread that I can progress and become debt free and keep it that way by giving weekly updates and progress reports and hopefully find some helpful tips from people on this forum.

I welcome any support or advice and hope I can stick with my plan of becoming debt free before my 30th birthday in May.
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Replies

  • Purplemumof2Purplemumof2 Forumite
    7.8K posts
    Part of the Furniture 1,000 Posts I've been Money Tipped!
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    Good luck on your journey.

    There are some very lovely supportive people on here.

    Keep posting

    Pmo2
    xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
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  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    Thank you for the support I will keep posting and keep updates.
  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    Week one: the beginning of paying back debts and staying gamble free.

    Here is a breakdown of my payments today from my weekly wage.

    £166 bamboo ✅ is the
    £155 satsuma ✅
    £108.5 likely loans ✅
    £35 Vanquous ✅
    £55 capital one
    £15 amazon card ✅
    £60 expenditure for dad ✅

    Total £534.5

    So my first reaction to getting paid was getting a Mac Donald’s but then while I was eating it I was swiftly loggedinto my creditors paying back arrears. The worse one was satsuma loans which hasn’t been paid in over 3 weeks which now is a relief it is paid.

    My capital one credit card payment now puts me under my credit limit of £1500 including my Vanquis which putting me under the £500 mark by only £5 but I will hopefully make a further payment next Friday to keep myself way under my limit on that card.

    My likely loans account is finally closed now with my last payment which was a 1 year loan so I am very much happy about that. With my bamboo loan which is another year loan I Made 2 catch up payments for 2 missing weeks of arrears including the normal payment on Friday.

    My amazon credit card for me will be one to chip away with but I am thinking at the moment would it be better to tackle the larger debts first more so than the smaller ones.

    Gambling thoughts and actions: well I have been having thoughts about gambling which in turn have luckily not turn into actions on this weeks pay day. I have walked away from the instruments of death that in-prison My mind into a horrible cycle which in turn would put me into more debt.

    Luckily all cards related to this thread are cut up and can’t be used which is helping towards my goal, seems the government changes towards using credit cards for gambling was a bit late coming in my eyes but still very much welcomed.

    I now have £67 for the rest of this week and will be withdrawing this money in euros and it looks like another weekend of staying in and watching Netflix... probably clearing up the flat may take my mind away from betting sites and delusions of grandeur 🤔

    Anyways I will keep people posted and may give daily updates on my thoughts and actions.

    "God grant me the serenity to accept the things I can not change, courage to change the things I can! And the wisdom to know the difference."
  • pidge04pidge04 Forumite
    779 posts
    500 Posts Second Anniversary
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    Rooting for you! You can do this.
    CC £4,012 left to pay (was £5400).
  • MovingForwardsMovingForwards Forumite
    9K posts
    1,000 Posts Second Anniversary Name Dropper Photogenic
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    I've seen people on MSE have self-excluded themselves from gambling sites, unfortunately, I haven't looked into what they do to achieve it, but it is something you should seriously consider. I'm sure I've also seen there is an AA-type support group for gamblers.

    As you will be fully aware, it's so easy to slip back into old ways, you need to remove the ability to gamble and find something else to fill the space.

    Wishing you well with getting financially straight and the support you need to be free.
  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    I just wrote a long post and my German IP address got banned by the forum,
    Luckily I have my British phone to be able to log in and post.

    I have self excluded myself and registered on a self exclusion program which alerts a lot of gambling sites that I can register and bet.

    For anyone else that maybe reading who thinks they have a gambling addiction i would advise going to GA meetings locally which were very helpful for myself when I was in the UK.

    Unfortunately I don’t have that support being here in Germany sadly but I am trying to change my patterns of behaviour and this forum is part of that.

    I am unsure but I am thinking of creating a YouTube channel to give progress updates on top of my regular posts here in the forum which would include debts and life problems I have had and overcome and the ones I am dealing with.

    On top of all this I am also bipolar but take medication for that.

    I think my main goal is to get back to the UK and get back to that support and have a flat or house I can call my own and be free.

    I made a cash withdrawal of 70 euros for the week and got my hair cut. With what was left £5.72 I put that straight towards my Vanquis credit card.

    It doesn’t feel great at the moment but if I can do some small steps hopefully that can lead to bigger steps with change of behaviour, thinking and filling that space/void with more useful and productive things that benefit my health in a positive way mentally and physically.
  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    Can’t register and bet*
  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    I made a purchase for my girlfriend as she wanted a electric salt and pepper grinder £25.99.

    Unfortunately this purchase was made on my PayPal credit due to making out my debt payments.

    This weeks wage is not going to be able to pay off as much as last week due to work and moving location and needing a buffer of about £200 for any emergency items I might need.

    With this move I will be making more money also and will be sending my girlfriend £250 towards building up some funds to rent so we can move in together when I come back to the uk.

    I have also downloaded a debt calculator which shows the snowball effect if I pay off large debts with the highest interest paid first.

    If my pay is correct and I receive £900 a week on top of a monthly pay of £500 I can be debt free by the end of March and have money to be able to rent back in the uk.

    It’s rather difficult to do a monthly calculation down to the penny because of my pay which varies.

    Next update should be this Friday.
  • enthusiasticsaverenthusiasticsaver Forumite, Board Guide
    11.7K posts
    10,000 Posts Seventh Anniversary Name Dropper I've been Money Tipped!
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    You have made a good start and I am glad you are addressing the gambling problems. They have caused untold misery for many on this forum. Good idea to save for emergencies alongside paying off debt. You need to know the interest rates so you know which debts to tackle first.

    On the plus side if you normally are able to afford £500+ from a weekly wage then you will get this debt paid off very quickly. Does your girlfriend know about the gambling and the debt?
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected]
  • FloorspeedFloorspeed Forumite
    13 posts
    MoneySaving Newbie
    I am aware of the interest on each account and will tackle from high to low.

    My girlfriend is aware of my debt and what’s some what frustrating is that she is also in debt her self sadly. My girlfriend is also aware that I am a compulsive gambler and I have said to her that I can’t do this alone and need help otherwise it’s just a viscous circle.

    I know when I get back I can get the full support I need in regards to the disease that I have!

    Yes the affordability is £500+ each week and I have been juggling numbers most of the day with what I could potential get but nothing is set in stone other than my £250 payment to her.
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