Cripplng gambling debt, no idea where to make savings

soolin

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

I’m not sure what you mean by this. If you go bankrupt all your debts are treated equally, you don’t get to chose to pay one back at the detriment of the others. 

strawb_shortcake

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

Things will get better, I have a sibling that is awful with money, their vice has been drugs and my parents lent £11k last year to stop him being repossessed, the debt is being paid back slowly. Their money now goes into my Mum's account and my Mum ensures the mortgage and bills get paid. 
Your parents will be disappointed and it won't be an easy conversation but they will forgive you, just look at it being the first step to a better life. 

Abandon

soolin said:

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

I’m not sure what you mean by this. If you go bankrupt all your debts are treated equally, you don’t get to chose to pay one back at the detriment of the others. 

Surely a family loan doesn't need to be included in a bankruptcy? Whatever happens, my grandparents WILL be repaid in full. 

[Deleted User]

If the family loan was cash in hand then don't include it then. I'm not saying it's right or wrong before the MSE police swoop. If the OR sees it on your bank statements they will ask about it.

fatbelly

If the grandparents are happy for it to be counted as a gift, then it doesn't need to be put on the application.
If it was a loan then it should be put on the application  - and the   advantage is that if  there is any distribution to creditors, they get a cut.
Once you are discharged what you do is up to you.

onwards&upwards

Abandon said:

soolin said:

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

I’m not sure what you mean by this. If you go bankrupt all your debts are treated equally, you don’t get to chose to pay one back at the detriment of the others. 

Surely a family loan doesn't need to be included in a bankruptcy? Whatever happens, my grandparents WILL be repaid in full. 

Ok, then you can’t use bankruptcy, that won’t allow you to repay them. 

Abandon

onwards&upwards said:

Abandon said:

soolin said:

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

I’m not sure what you mean by this. If you go bankrupt all your debts are treated equally, you don’t get to chose to pay one back at the detriment of the others. 

Surely a family loan doesn't need to be included in a bankruptcy? Whatever happens, my grandparents WILL be repaid in full. 

Ok, then you can’t use bankruptcy, that won’t allow you to repay them. 

What if I paid it back after I was discharged? Surely that's the solution? I don't want to break any laws through, but there is no contracts or anything. 

onwards&upwards

Abandon said:

onwards&upwards said:

Abandon said:

soolin said:

Abandon said:

annabanana82 said:

Sounds to me the best thing you could do is own up to your parents, tell them to stop the £250 a month as it's much more useful and needed in their pocket than yours. Then you'll have no choice but to action the other problem you have.
And there are loads of free games available to occupy your time rather than gambling, but I'm sure there are far more productive ways of spending your time that will help give you a sense of purpose

I've a horrible feeling you are right. I've been self reflecting a lot since I opened this thread. I am going to bring it up tonight. 
I am not including the grandparent loan if I go bankrupt, that have to be paid in full!! 

I’m not sure what you mean by this. If you go bankrupt all your debts are treated equally, you don’t get to chose to pay one back at the detriment of the others. 

Surely a family loan doesn't need to be included in a bankruptcy? Whatever happens, my grandparents WILL be repaid in full. 

Ok, then you can’t use bankruptcy, that won’t allow you to repay them. 

What if I paid it back after I was discharged? Surely that's the solution? I don't want to break any laws through, but there is no contracts or anything. 

Are they happy to wait with no payments at all until then? 

kazwookie

You don't have any money to pay anyone back or otherwise.

kezzygirl

I dont think you are ready to quit gambling. Your attitude in your responses is shocking, you seem almost pleased to go bankrupt so you can get yourself out of paying it back, taking the easy road without intention of stopping your behaviour. Unfortunately, some people have to hit rock bottom before waking up and realising that they need to change. And you seem to be one of them.