Redemption - The journey of a recovering gambling addict.

Ok. 

Here goes. 

This is my journal on my journey to redemption. 

First post is to outline my current situation. 

Salary- £75k +

Married 
Two Children 

Personal Debts 
Bank Loan 1 CAR - £20433 - £352 4.3%
Debt Consolidation Loan £10,344 £153 5.2% 
MBMA - £4300 - 0% 14 months 
NatWest £3000 - 0% 12 months 

I have told my wife everything and now it’s time to move on with recovery and debt payments. 

Lucky to say all payments can be made and nothing is at risk. 

I have a gambling addiction and will journal my process of the recovery. 

Aim is to clear credit card debt in one year. 

LG 
Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

Current Situation Started Posting in Apil 24:
Unsecured Personal Debt - May 2025
Natwest CC 0% - £3000 (Cleared November 2024)
Lloyds CC 0% £4500 - £2000
Barclaycard CC 0% £12,567 - £7900

10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
«13456753

Comments

  • WinterWarrior
    WinterWarrior Posts: 6,086 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Hi lonelygambler, welcome to the diaries. 
    On your salary I think clearing the cards in a year is very doable with a bit of focus, so that’s good news.
    Have you registered for gamstop? I have a bit of a love of spinny shiny online slots and tried many times to self manage it, but came to the realisation that the only way was to get them blocked. It’s ok saying close your account, but so easy to just open a different one 5 minutes later 😖 I freely admit they were a lot of fun, but you never come out winning overall. I never got into debt, but the money I wasted 😢
    Having something new to focus on really helps, along with the knowledge that even if you wanted to, you can’t! 
    I really like Dave Ramsey’s snowball method for debt repayment. Try watching some of his YouTube/podcasts, they may help get you in the debt paying mindset. 
    Extra good luck. 
    Not all who wander are lost - J.R.R.Tolkien
    🌊 A smooth sea never made a skilled sailor 🌊

    My WW and friends diary is here 😁 … 
    https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p1

  • njkmr
    njkmr Posts: 252 Forumite
    100 Posts First Anniversary
    Good luck
    You have faced up to it and I'm sure you will overcome it.
    I'm sure it won't be easy but all the very best.
    Regards
    Rob.
  • FootyFanDan
    FootyFanDan Posts: 1,645 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Good luck on your journey
    it is good that you have opened up to your wife, having her on board should hopefully make this journey more doable. I second above have you gone down route of gamstop yet, they were an absolute lifesaver for myself when I realised that I was spending ridiculous amounts on slots and in the end no matter how many times I tried to close the account I would just open another. Luckily I never got into debt through it, but after one big win I felt like I was always chasing that next big win. I can't even begin to imagine how much i wasted through this. 


    Days to Orlando: 483- ☀️🎢

  • Time to check in. 

    I didn’t realise I couldn’t edit my posts. Here is a current overview of our financial position. 

    Home Owners
    £395,000 Mortgage

    All house bills come to £4100 including food and nursery bills for two toddlers.

    My wife contributes £1350 and I contribute £2790.

    My personal bills are £160 including two life insurance policies, three mobile Apple 0% and work membership.

    On top of debt minimums I am aiming to pay off £500+ a month approx £1070 all together. 

    This leaves me £50 a month savings and £200 for spending money. 

    Never found it challenging to budget for our joint account however myself has been a self confessed nightmare. 

    LG
    Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

    Current Situation Started Posting in Apil 24:
    Unsecured Personal Debt - May 2025
    Natwest CC 0% - £3000 (Cleared November 2024)
    Lloyds CC 0% £4500 - £2000
    Barclaycard CC 0% £12,567 - £7900

    10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
  • Hi lonelygambler, welcome to the diaries. 
    On your salary I think clearing the cards in a year is very doable with a bit of focus, so that’s good news.
    Have you registered for gamstop? I have a bit of a love of spinny shiny online slots and tried many times to self manage it, but came to the realisation that the only way was to get them blocked. It’s ok saying close your account, but so easy to just open a different one 5 minutes later 😖 I freely admit they were a lot of fun, but you never come out winning overall. I never got into debt, but the money I wasted 😢
    Having something new to focus on really helps, along with the knowledge that even if you wanted to, you can’t! 
    I really like Dave Ramsey’s snowball method for debt repayment. Try watching some of his YouTube/podcasts, they may help get you in the debt paying mindset. 
    Extra good luck. 
    Thank you for engaging with my diary. 

    After losing 2k in two nights I’d had enough. Signed up to Gamstop and that’s that. 

    Snowballing looks like my preference starting on my smallest credit card. 

    I will check out those podcasts 

    LG
    Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

    Current Situation Started Posting in Apil 24:
    Unsecured Personal Debt - May 2025
    Natwest CC 0% - £3000 (Cleared November 2024)
    Lloyds CC 0% £4500 - £2000
    Barclaycard CC 0% £12,567 - £7900

    10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
  • njkmr said:
    Good luck
    You have faced up to it and I'm sure you will overcome it.
    I'm sure it won't be easy but all the very best.
    Regards
    Rob.
    Thank you. 

    It was a morning spent with my boys thinking I don’t want to hide this debt and just get it cleared. 

    I’m hopeful in time my wife will support me. 
    Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

    Current Situation Started Posting in Apil 24:
    Unsecured Personal Debt - May 2025
    Natwest CC 0% - £3000 (Cleared November 2024)
    Lloyds CC 0% £4500 - £2000
    Barclaycard CC 0% £12,567 - £7900

    10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
  • Good luck on your journey
    it is good that you have opened up to your wife, having her on board should hopefully make this journey more doable. I second above have you gone down route of gamstop yet, they were an absolute lifesaver for myself when I realised that I was spending ridiculous amounts on slots and in the end no matter how many times I tried to close the account I would just open another. Luckily I never got into debt through it, but after one big win I felt like I was always chasing that next big win. I can't even begin to imagine how much i wasted through this. 


    The sad reality for me is no win would be big enough. 

    Enough is enough. 

    Thank you for dropping in. 
    Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

    Current Situation Started Posting in Apil 24:
    Unsecured Personal Debt - May 2025
    Natwest CC 0% - £3000 (Cleared November 2024)
    Lloyds CC 0% £4500 - £2000
    Barclaycard CC 0% £12,567 - £7900

    10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
  • pogg000
    pogg000 Posts: 588 Forumite
    Part of the Furniture 500 Posts
    I wish you well on your journey 
    lbm 11/06/12 dept total 11499.47
  • pogg000 said:
    I wish you well on your journey 
    Thank you. 

    The journey to debt free should be ok. My battle with gambling I can foresee being more challenging. 
    Gambling Addict - Acting now before it's too late. Gambling losses well over 25k. 

    Current Situation Started Posting in Apil 24:
    Unsecured Personal Debt - May 2025
    Natwest CC 0% - £3000 (Cleared November 2024)
    Lloyds CC 0% £4500 - £2000
    Barclaycard CC 0% £12,567 - £7900

    10/5/24 - 15 MonthsGamble Free - Longest in years. Gambling is an illness. Seek help. It is not worth your life. 
  • No advice on either the debt or gambling front, but I wanted to wish you the best of luck and mental strength to resolve both situations.
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