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Dro,please don't judge

edited 30 November -1 at 1:00AM in IVA & DRO
9 replies 1.7K views
OneHubbyOneSon4DebtsOneHubbyOneSon4Debts Forumite
120 posts
edited 30 November -1 at 1:00AM in IVA & DRO
As title states please don't judge me just looking for some advice.

I've been a problem gambler for many many years, won thousands, lost thousands.

Finally and I really do mean finally I sought help and haven't gambled for 3 months, it's like I've been given a new lease of life, I feel free, BUT yes I'm in debt if around £17,000.

The debts are spread across 4 credit cards all in my name. I haven't missed any payments on these cards but today I paid each card the minimum payment and that's it can't pay them anymore because my mum and brother where helping me meet the minimum payments but they just can't afford it anymore.

3 months prior to my 3 months gambling free I spent a hell of amount on gambling approx £6,000, yes I know £6,000 in the space of 3 months on credit cards.

I really don't know what I was doing or thinking I'm so ashamed.

My question is, I do fit the bill for a dro, but would there be any chance at all of being granted one because of my stupidity and reckless spending.

Thanks

,

Replies

  • edited 17 May 2019 at 4:35PM
    sourcratessourcrates Forumite, Board Guide
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    edited 17 May 2019 at 4:35PM
    Hi,


    Stupidity and reckless spending are almost a pre-requisit for having a DRO, so relax on that score.


    Baisic criteria are :


    Must not be a homeowner


    Debts of no more than 20k


    No assets over £1000


    A car worth £1000 or less


    Must have less than £50 disposable income at month end (not inc debt repayments).


    More importantly, get help with the Gambling.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Thank you sourcrates.

    If we could only turn back time.

    All the above criteria I fit for a dro, just so worried it won't be accepted or revoked.
  • sourcratessourcrates Forumite, Board Guide
    20.7K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
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    Thank you sourcrates.

    If we could only turn back time.

    All the above criteria I fit for a dro, just so worried it won't be accepted or revoked.


    People get in financial trouble for no end of reasons, no one is perfect.


    How you ran up the debt will not effect you getting a DRO, unless any of the debts were due to fraud of some kind, your intermediary will go through your application, and once submitted, it will be granted (subject to the fraud checks mentioned earlier).
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Thanks again sourcrates

    What do you mean by fraud checks?
  • sourcratessourcrates Forumite, Board Guide
    20.7K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Thanks again sourcrates

    What do you mean by fraud checks?


    Standard fraud checks.


    Any debt that was the result of a fraud, for example claiming benefits when your not entitled to them, loans/cards taken out in someone elses name, that sort of thing.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Thanks for the clarification sourcrates my stomach was churning then. No I've done nothing like that.

    3 of the credit cards I've had for about 10/12 years, the other one was taken out in 2015, as I say never missed any payments but hand on heart I probably did exaggerate my circumstances when I applied for them.

    Could that cause problems.
  • sourcratessourcrates Forumite, Board Guide
    20.7K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Thanks for the clarification sourcrates my stomach was churning then. No I've done nothing like that.

    3 of the credit cards I've had for about 10/12 years, the other one was taken out in 2015, as I say never missed any payments but hand on heart I probably did exaggerate my circumstances when I applied for them.

    Could that cause problems.


    No one will ask, or care.


    Its a simple process, there to help, don`t overthink things, as long as you meet the criteria, thats it, there not interested in anything else.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • You've been an absolute star sourcrates :T

    I will leave you in peace now and ponder my next move, thank you for your time and all the info.

    No doubt I will be back with more questions :)
  • You've been an absolute star sourcrates :T

    I will leave you in peace now and ponder my next move, thank you for your time and all the info.

    No doubt I will be back with more questions :)

    Hi, I've just been reading your posts and I hope you have been able to continue not to gamble in the months since your last post. I've been there, done that, bought the t-shirt - in much larger amounts. It took me many years to address the actual problems behind my gambling and to realise that only by facing these could I stop gambling. It's an horrible afliction - I've fortunately never suffered from any other addiction, but I feel gambling has a couple of really unique hooks which really exacerbate the issue. Firstly, it is entirely invisible so the gambler can keep it hidden for so long. My wife had no idea until it escalated to the point of no return. An alcoholic or drug addict would be spotted much sooner, and intercepted by those around them. Secondly, with any other addiction, once you stop you begin to recover. With gambling, the gambler feels like they can't stop until they win back what they have lost. Chasing losses generally only leads to a massive escalation in losses. Stay strong - there is light at the end of the tunnel. Stay connected to the real things in the real world that are important to you.
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