Gambling with payday loans

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GDEKS
GDEKS Posts: 5 Forumite
in Loans
Hello, I’m 18 years old and lost all my money through gambling, I stupidly started taking payday loans out to try and win back what I lost but now I’m in about £1500 debt.

The worst part is I lied about having a job to get these loans because I kept telling myself I’m going to win the money back and pay them off, I think I’m addicted to be honest.

I know what I have done is immoral and illegal but I have no clue how to get myself out of this mess so looking for any tips, thanks.
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  • Sncjw
    Sncjw Posts: 3,509 Forumite
    First Anniversary Name Dropper First Post
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    First self ban yourself from the sites. Then look for a job to oy the loans back even a shop job.
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • dresdendave
    dresdendave Posts: 889 Forumite
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    Sncjw wrote: »
    First self ban yourself from the sites. Then look for a job to oy the loans back even a shop job.

    I'm sure people who work in shops will appreciate the respect you obviously have for them.
  • Sncjw
    Sncjw Posts: 3,509 Forumite
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    I used to work in a shop. I ment it as the op may look at work I that will take a long time to get As he or she may set his aspirations high for a job
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • Sncjw
    Sncjw Posts: 3,509 Forumite
    First Anniversary Name Dropper First Post
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    I meant to get a job quickly to pay off the debts
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • GDEKS
    GDEKS Posts: 5 Forumite
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    Okay thanks, I am at college 5 days a week till summer doing my A levels so I might only be able to work certain days, if I am taking ages to pay the loans back will the payday loan companies not procecute because I lied on the applications?
  • Sncjw
    Sncjw Posts: 3,509 Forumite
    First Anniversary Name Dropper First Post
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    Most places esp shops have students and offer flexible working.
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • Sncjw
    Sncjw Posts: 3,509 Forumite
    First Anniversary Name Dropper First Post
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    Have you got any money in the gambling accounts. If so withdraw it and use to pay some of the debt off
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • Shakin_Steve
    Shakin_Steve Posts: 2,701 Forumite
    First Anniversary Photogenic First Post Name Dropper
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    GDEKS wrote: »
    Okay thanks, I am at college 5 days a week till summer doing my A levels so I might only be able to work certain days, if I am taking ages to pay the loans back will the payday loan companies not procecute because I lied on the applications?
    They won't prosecute you but they might pass your details to a debt collection agency. Your credit file will take a hit too.
    You've made a big mistake. But your are young and can learn valuable lessons from this.
    Leave the gambling alone, it's a mugs game. Come clean with the lenders, they can't kill you.
    I came into this world with nothing and I've got most of it left.
  • BrassicWoman
    BrassicWoman Posts: 3,202 Forumite
    First Anniversary Name Dropper First Post Mortgage-free Glee!
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    throw yourself on the mercy of your parents. and work nights in a pub.
    2021 GC £1365.71/ £2400
  • GDEKS
    GDEKS Posts: 5 Forumite
    Options
    Okay thank you, I know I have made a massive mistake and I appreciate the help, I have closed all accounts now and I am going to tell the companies what Ive done and tell them Im going to find a job.
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