Ruined my life with gambeling and need advice
GambledLife
Posts: 66 Forumite
Hello I need some advice as I don't know what to do, I have massive gambling debts of £36543.02 spread out across multiple credit cards and overdraft. the vast majority has been accrued in the past two months.
Current wage: 38460
After tax £2205
I have spent the last few days putting together a spreadsheet of everything I owe as well as incomings and outgoings as close as I can get including a buffer of 200 a month spend (socialising fund /encase I need new shoes or shirt for work or if the shopping / gas or elec is higher then normal) the image below shows all of the money I owe and as you can see as of this moment 4150 of my debt is in an overdraft of which I have recently been told by a friend a back can reduce / suspend at any time (I did Not know this).
I have tried to lay out a plan over the next two years to clear my debt but as you can see I will still be in my overdraft until the end of May / June if anything unforeseen occurs and my 200 fund cant corer it, there is no way around that (I will not be approved for loans or credit cards to cover the overdrafts 4k capacity, and what's worse is I will need the overdraft to at least have an available limit of the below as of the date listed to pay minimum payments and living expenses and just encase fund:
Overdraft amount: 4000
Overdraft amount need / until date:
3500 - 26th jan
3000 - 26th feb
2500 - 26th mar
2000 - 26th apr
1500 - 26th may
1000 - 26th jun
500 - 26th jul
Is it likely Halifax will force a reduce on my overdraft before may/ june?
- its not interest free so I am paying for it 1p for every £7 used per day in negative.
If so is it likely they will reduce it by more then the value need each month (listed above)?
- is there anything I can do to stop them?
What happens if they reduce it on by more then I need to cover living expenses and minimum payments?
Should I let the bank know I still need the overdraft until this date?
- I'm worried if I do this it will let them no my financial difficulty's and they will reduce it then and there
Any advice would be greatly appreciated.
The spreadsheet I have been working on is below in pipe separated .csv format as I cant insert an image or link yet.
To view this file you will unfortunately need to copy all text below and paste it into a note pad tool, save this as {filename}.csv you will then be able to open this in a tool like excel, sorry for any inconvenience I am currently in the process of creating the SOA format the forum is use to.
Date (26th of the mounth)|Bonus Payment|Wages after tax|expences|christmass gifts cost|Current account ON payday|Current account on 26th of mounth (Halifax)|capital one credit card debt inc intrest after payment|capital one credit card payment (min payment £100)|Tesco credit card debt inc intrest after payment|Tesco credit card payment (min payment £150)|Lloyds credit card debt (0% intrest 36 months)|Lloyds credit card payment (min payment currently unknown guessing based on other cards)|halifax credit card debt (0% intrest 35 months)|Halifax credit card (min payment £80)|Virgin credit card debt|Virgin credit card payment (min payment currently unknown guessing based on other cards)|Barclays credit card debt (0% intrest 35 months)|Barclays credit card payment (min payment £200)|credit card debt as of mounth|What was the total mount Payed on credit cards (per month)
December|||150|||-4000|"-£2,210.00"||"-£6,179.38"||"-£3,090.00"||"-£5,275.45"||"-£5,400.70"||"-£10,237.49"||"-£32,393.02"|
January|500|2705|765||-795|-3070|"-£2,164.81"|100|"-£6,106.06"|200|"-£2,950.00"|140|"-£5,195.45"|80|"-£5,260.70"|140|"-£10,037.49"|200|"-£31,714.51"|860
February||2205|665||-185|-2390|"-£2,118.50"|100|"-£6,031.23"|200|"-£2,810.00"|140|"-£5,115.45"|80|"-£5,120.70"|140|"-£9,837.49"|200|"-£31,033.37"|860
March||2205|665||-185|-1710|"-£2,071.03"|100|"-£5,954.87"|200|"-£2,670.00"|140|"-£5,035.45"|80|"-£4,980.70"|140|"-£9,637.49"|200|"-£30,349.55"|860
April||2205|665||495|-1030|"-£2,022.40"|100|"-£5,876.95"|200|"-£2,530.00"|140|"-£4,955.45"|80|"-£4,840.70"|140|"-£9,437.49"|200|"-£29,662.98"|860
May||2205|665||1175|-350|"-£1,972.55"|100|"-£5,797.42"|200|"-£2,390.00"|140|"-£4,875.45"|80|"-£4,700.70"|140|"-£9,237.49"|200|"-£28,973.61"|860
June||2205|665||1855|130|"-£1,721.47"|300|"-£5,716.27"|200|"-£2,250.00"|140|"-£4,795.45"|80|"-£4,560.70"|140|"-£9,037.49"|200|"-£28,081.38"|1060
July||2205|665||2335|410|"-£1,264.16"|500|"-£5,633.45"|200|"-£2,110.00"|140|"-£4,715.45"|80|"-£4,420.70"|140|"-£8,837.49"|200|"-£26,981.26"|1260
August||2205|665||2615|690|-£795.51|500|"-£5,548.94"|200|"-£1,970.00"|140|"-£4,635.45"|80|"-£4,280.70"|140|"-£8,637.49"|200|"-£25,868.09"|1260
September||2205|665||2895|654.76|£0.00|815.24|"-£5,462.69"|200|"-£1,830.00"|140|"-£4,555.45"|80|"-£4,140.70"|140|"-£8,437.49"|200|"-£24,426.34"|1575.24
October||2205|665||2859.76|734.76|£0.00|0|"-£4,674.68"|900|"-£1,690.00"|140|"-£4,475.45"|80|"-£4,000.70"|140|"-£8,237.49"|200|"-£23,078.32"|1460
November||2205|665||2939.76|714.76|£0.00|0|"-£3,770.51"|1000|"-£1,550.00"|140|"-£4,395.45"|80|"-£3,860.70"|140|"-£8,037.49"|200|"-£21,614.15"|1560
December||2205|665|250|2919.76|444.76|£0.00|0|"-£2,847.81"|1000|"-£1,410.00"|140|"-£4,315.45"|80|"-£3,720.70"|140|"-£7,837.49"|200|"-£20,131.45"|1560
January|1000|3205|665||4649.76|424.76|£0.00|0|-£906.19|2000|"-£1,270.00"|140|"-£4,235.45"|80|"-£3,580.70"|140|"-£7,637.49"|200|"-£17,629.83"|2560
February||2205|665||2629.76|320|£0.00|0|£0.00|924.76|-£970.00|300|"-£4,155.45"|80|"-£3,440.70"|140|"-£7,437.49"|200|"-£16,003.64"|1644.76
March||2205|665||2525|580|£0.00|0|£0.00|0|-£110.00|860|"-£4,075.45"|80|"-£3,300.70"|140|"-£7,237.49"|200|"-£14,723.64"|1280
April||2205|665||2785|870|£0.00|0|£0.00|0|£0.00|110|"-£3,575.45"|500|"-£3,160.70"|140|"-£6,737.49"|500|"-£13,473.64"|1250
May||2205|665||3075|1070|£0.00|0|£0.00|0|£0.00|0|"-£2,575.45"|1000|"-£3,020.70"|140|"-£6,537.49"|200|"-£12,133.64"|1340
June||2205|665||3275|910|£0.00|0|£0.00|0|£0.00|0|"-£1,575.45"|1000|"-£2,520.70"|500|"-£6,337.49"|200|"-£10,433.64"|1700
July||2205|665||3115|750|£0.00|0|£0.00|0|£0.00|0|-£575.45|1000|"-£2,020.70"|500|"-£6,137.49"|200|"-£8,733.64"|1700
August||2205|665||2955|914.55|£0.00|0|£0.00|0|£0.00|0|£0.00|575.45|"-£1,520.70"|500|"-£5,837.49"|300|"-£7,358.19"|1375.45
September||2205|665||3119.55|954.55|£0.00|0|£0.00|0|£0.00|0|£0.00|0|"-£1,020.70"|500|"-£4,837.49"|1000|"-£5,858.19"|1500
October||2205|665||3159.55|994.55|£0.00|0|£0.00|0|£0.00|0|£0.00|0|-£520.70|500|"-£3,837.49"|1000|"-£4,358.19"|1500
November||2205|665||3199.55|1013.85|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|520.7|"-£2,837.49"|1000|"-£2,837.49"|1520.7
December||2205|665|250|3218.85|1103.85|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|0|"-£1,637.49"|1200|"-£1,637.49"|1200
January|1500|3705|665||6308.85|2506.36|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|1637.49|£0.00|1637.49
Current wage: 38460
After tax £2205
I have spent the last few days putting together a spreadsheet of everything I owe as well as incomings and outgoings as close as I can get including a buffer of 200 a month spend (socialising fund /encase I need new shoes or shirt for work or if the shopping / gas or elec is higher then normal) the image below shows all of the money I owe and as you can see as of this moment 4150 of my debt is in an overdraft of which I have recently been told by a friend a back can reduce / suspend at any time (I did Not know this).
I have tried to lay out a plan over the next two years to clear my debt but as you can see I will still be in my overdraft until the end of May / June if anything unforeseen occurs and my 200 fund cant corer it, there is no way around that (I will not be approved for loans or credit cards to cover the overdrafts 4k capacity, and what's worse is I will need the overdraft to at least have an available limit of the below as of the date listed to pay minimum payments and living expenses and just encase fund:
Overdraft amount: 4000
Overdraft amount need / until date:
3500 - 26th jan
3000 - 26th feb
2500 - 26th mar
2000 - 26th apr
1500 - 26th may
1000 - 26th jun
500 - 26th jul
Is it likely Halifax will force a reduce on my overdraft before may/ june?
- its not interest free so I am paying for it 1p for every £7 used per day in negative.
If so is it likely they will reduce it by more then the value need each month (listed above)?
- is there anything I can do to stop them?
What happens if they reduce it on by more then I need to cover living expenses and minimum payments?
Should I let the bank know I still need the overdraft until this date?
- I'm worried if I do this it will let them no my financial difficulty's and they will reduce it then and there
Any advice would be greatly appreciated.
The spreadsheet I have been working on is below in pipe separated .csv format as I cant insert an image or link yet.
To view this file you will unfortunately need to copy all text below and paste it into a note pad tool, save this as {filename}.csv you will then be able to open this in a tool like excel, sorry for any inconvenience I am currently in the process of creating the SOA format the forum is use to.
Date (26th of the mounth)|Bonus Payment|Wages after tax|expences|christmass gifts cost|Current account ON payday|Current account on 26th of mounth (Halifax)|capital one credit card debt inc intrest after payment|capital one credit card payment (min payment £100)|Tesco credit card debt inc intrest after payment|Tesco credit card payment (min payment £150)|Lloyds credit card debt (0% intrest 36 months)|Lloyds credit card payment (min payment currently unknown guessing based on other cards)|halifax credit card debt (0% intrest 35 months)|Halifax credit card (min payment £80)|Virgin credit card debt|Virgin credit card payment (min payment currently unknown guessing based on other cards)|Barclays credit card debt (0% intrest 35 months)|Barclays credit card payment (min payment £200)|credit card debt as of mounth|What was the total mount Payed on credit cards (per month)
December|||150|||-4000|"-£2,210.00"||"-£6,179.38"||"-£3,090.00"||"-£5,275.45"||"-£5,400.70"||"-£10,237.49"||"-£32,393.02"|
January|500|2705|765||-795|-3070|"-£2,164.81"|100|"-£6,106.06"|200|"-£2,950.00"|140|"-£5,195.45"|80|"-£5,260.70"|140|"-£10,037.49"|200|"-£31,714.51"|860
February||2205|665||-185|-2390|"-£2,118.50"|100|"-£6,031.23"|200|"-£2,810.00"|140|"-£5,115.45"|80|"-£5,120.70"|140|"-£9,837.49"|200|"-£31,033.37"|860
March||2205|665||-185|-1710|"-£2,071.03"|100|"-£5,954.87"|200|"-£2,670.00"|140|"-£5,035.45"|80|"-£4,980.70"|140|"-£9,637.49"|200|"-£30,349.55"|860
April||2205|665||495|-1030|"-£2,022.40"|100|"-£5,876.95"|200|"-£2,530.00"|140|"-£4,955.45"|80|"-£4,840.70"|140|"-£9,437.49"|200|"-£29,662.98"|860
May||2205|665||1175|-350|"-£1,972.55"|100|"-£5,797.42"|200|"-£2,390.00"|140|"-£4,875.45"|80|"-£4,700.70"|140|"-£9,237.49"|200|"-£28,973.61"|860
June||2205|665||1855|130|"-£1,721.47"|300|"-£5,716.27"|200|"-£2,250.00"|140|"-£4,795.45"|80|"-£4,560.70"|140|"-£9,037.49"|200|"-£28,081.38"|1060
July||2205|665||2335|410|"-£1,264.16"|500|"-£5,633.45"|200|"-£2,110.00"|140|"-£4,715.45"|80|"-£4,420.70"|140|"-£8,837.49"|200|"-£26,981.26"|1260
August||2205|665||2615|690|-£795.51|500|"-£5,548.94"|200|"-£1,970.00"|140|"-£4,635.45"|80|"-£4,280.70"|140|"-£8,637.49"|200|"-£25,868.09"|1260
September||2205|665||2895|654.76|£0.00|815.24|"-£5,462.69"|200|"-£1,830.00"|140|"-£4,555.45"|80|"-£4,140.70"|140|"-£8,437.49"|200|"-£24,426.34"|1575.24
October||2205|665||2859.76|734.76|£0.00|0|"-£4,674.68"|900|"-£1,690.00"|140|"-£4,475.45"|80|"-£4,000.70"|140|"-£8,237.49"|200|"-£23,078.32"|1460
November||2205|665||2939.76|714.76|£0.00|0|"-£3,770.51"|1000|"-£1,550.00"|140|"-£4,395.45"|80|"-£3,860.70"|140|"-£8,037.49"|200|"-£21,614.15"|1560
December||2205|665|250|2919.76|444.76|£0.00|0|"-£2,847.81"|1000|"-£1,410.00"|140|"-£4,315.45"|80|"-£3,720.70"|140|"-£7,837.49"|200|"-£20,131.45"|1560
January|1000|3205|665||4649.76|424.76|£0.00|0|-£906.19|2000|"-£1,270.00"|140|"-£4,235.45"|80|"-£3,580.70"|140|"-£7,637.49"|200|"-£17,629.83"|2560
February||2205|665||2629.76|320|£0.00|0|£0.00|924.76|-£970.00|300|"-£4,155.45"|80|"-£3,440.70"|140|"-£7,437.49"|200|"-£16,003.64"|1644.76
March||2205|665||2525|580|£0.00|0|£0.00|0|-£110.00|860|"-£4,075.45"|80|"-£3,300.70"|140|"-£7,237.49"|200|"-£14,723.64"|1280
April||2205|665||2785|870|£0.00|0|£0.00|0|£0.00|110|"-£3,575.45"|500|"-£3,160.70"|140|"-£6,737.49"|500|"-£13,473.64"|1250
May||2205|665||3075|1070|£0.00|0|£0.00|0|£0.00|0|"-£2,575.45"|1000|"-£3,020.70"|140|"-£6,537.49"|200|"-£12,133.64"|1340
June||2205|665||3275|910|£0.00|0|£0.00|0|£0.00|0|"-£1,575.45"|1000|"-£2,520.70"|500|"-£6,337.49"|200|"-£10,433.64"|1700
July||2205|665||3115|750|£0.00|0|£0.00|0|£0.00|0|-£575.45|1000|"-£2,020.70"|500|"-£6,137.49"|200|"-£8,733.64"|1700
August||2205|665||2955|914.55|£0.00|0|£0.00|0|£0.00|0|£0.00|575.45|"-£1,520.70"|500|"-£5,837.49"|300|"-£7,358.19"|1375.45
September||2205|665||3119.55|954.55|£0.00|0|£0.00|0|£0.00|0|£0.00|0|"-£1,020.70"|500|"-£4,837.49"|1000|"-£5,858.19"|1500
October||2205|665||3159.55|994.55|£0.00|0|£0.00|0|£0.00|0|£0.00|0|-£520.70|500|"-£3,837.49"|1000|"-£4,358.19"|1500
November||2205|665||3199.55|1013.85|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|520.7|"-£2,837.49"|1000|"-£2,837.49"|1520.7
December||2205|665|250|3218.85|1103.85|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|0|"-£1,637.49"|1200|"-£1,637.49"|1200
January|1500|3705|665||6308.85|2506.36|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|0|£0.00|1637.49|£0.00|1637.49
0
Comments
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I'm not sure that anybody is going to make head or tail of the list of numbers you have put above. I think the clearest way forwards is a statement of affairs. The big thing is have you stopped gambling? If you are still wasting money on that then there really is no helping you.0
-
first things first do you think/admit you have a problem
thats the first thing you need to do if you want to get yourself out of this mess
if so get yourself down to a gamblers annonymous meeting asap
thats the only way i found to get myself out of a mess like yours
ive now been attending a meeting 8 years now0 -
I have stopped gambling but its recent e.g. a week or so no which may not sound a lot but its a big deal for me as I gambling is something I did first thing and last thing of every day and serval times throughout.
Until recently i have been burying my head in the sand and tbh looking at the numbers makes me feel sick that iv let it get this bad, i have ruined the next 2-3 years of my life (Assuming my circumstances do not change).
I have spent the last week excluding myself from every site for the max term usually 6years-life from every site I have ever been a member of. I have even joined several just to exclude myself so I cant be tempted in the future.
if users want to see the table then at the moment you can copy the text and save is as a {filename}.csv you can then open in excel or other tool to see it sheet.
i don't seem to be able to insert an image.
i will work on the SOA format.0 -
newbie1980 wrote: »first things first do you think/admit you have a problem
thats the first thing you need to do if you want to get yourself out of this mess
if so get yourself down to a gamblers annonymous meeting asap
thats the only way i found to get myself out of a mess like yours
ive now been attending a meeting 8 years now
100% i have a massive problem and have now stopped the worry of this is making me feel ill, i am currently looking for meetings in Harlow / online help groups.0 -
Well done for posting.
I too was really bad at gambling and nearly lost everything including my home and family etc.
First off speak to GA. You might feel its under control now but honestly it comes to bite when you least expect it. They will help massively. I had a flickering light bulb several times. This time it was different because I had the support of GA.
Secondly K9 Web protection is free, it will block all gambling sites. Get someone you trust to set it up and do the password. It's saved me caving in a few times.
Speak to a debt charity if you want to speak to someone about the debt don't go to a fee paying place.
Well done on making the first step“Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”0 -
Hello
To address your OD questions, no one can say when the bank will call in an overdraft. They don't need a reason. I think your plan to repay it looks great - barely six months to clear it good for you.
I would not discuss the plan with the bank. In my experience ( thankfully not personal but a relative) if you say you have a problem, they simply pull the rug ( then offer to loan you the money at an extortionate rate). If there is no reason for them to review your overdraft, I'd assume for now they won't. I only had an overdraft of a similar level when I was a student. I imagine if they cut it they would do so incrementally. I would negotiate that IF they discuss removal of the facility. Whilst you are paying for the privilege, they are making money.
Good luck with the situation that has landed you here too.
Keep posting
Bexster
0 -
WannabeFree wrote: »Well done for posting.
I too was really bad at gambling and nearly lost everything including my home and family etc.
First off speak to GA. You might feel its under control now but honestly it comes to bite when you least expect it. They will help massively. I had a flickering light bulb several times. This time it was different because I had the support of GA.
Secondly K9 Web protection is free, it will block all gambling sites. Get someone you trust to set it up and do the password. It's saved me caving in a few times.
Speak to a debt charity if you want to speak to someone about the debt don't go to a fee paying place.
Well done on making the first step
https://www.gamblersanonymous.org.uk/index.php/meetings0 -
bexster1975 wrote: »Hello
To address your OD questions, no one can say when the bank will call in an overdraft. They don't need a reason. I think your plan to repay it looks great - barely six months to clear it good for you.
I would not discuss the plan with the bank. In my experience ( thankfully not personal but a relative) if you say you have a problem, they simply pull the rug ( then offer to loan you the money at an extortionate rate). If there is no reason for them to review your overdraft, I'd assume for now they won't. I only had an overdraft of a similar level when I was a student. I imagine if they cut it they would do so incrementally. I would negotiate that IF they discuss removal of the facility. Whilst you are paying for the privilege, they are making money.
Good luck with the situation that has landed you here too.
Keep posting
Bexster
I see what you mean the trouble is my wages go into the account so if they do reduce it screws over my living situation and all my cards then i will start injuring more and more interest.
I'm currently looking at step change (Recommending a DMP) but from what I'm reading creditors don't have to freeze interest or accept a lower payment, you make payments to the DMP and they divvy it up they might not pay the minimum so could end up in worse shape. that and apparently creditors can still chance you and take you to court.
Does anyone have any experience with step change (DMP) ? with my kind of debt levels? did your creditors refuse lower payments or not freeze the interest.0 -
Hi
I don't have experience of Stepchange, but lots on this board have.
I think the bank pulling your OD is a panic to put off until it happens, and work on paying it down. I can't really work out your spreadsheet are you in £32000 of debt in total?
If Stepchange recommend DMP, it is likely to be a good solution.
Bexster 0 -
bexster1975 wrote: »Hi
I don't have experience of Stepchange, but lots on this board have.
I think the bank pulling your OD is a panic to put off until it happens, and work on paying it down. I can't really work out your spreadsheet are you in £32000 of debt in total?
If Stepchange recommend DMP, it is likely to be a good solution.
Bexster
Thanks i appreciate all your comments, i wish it was 32000 sadly i was stupid enough to rack up £36543.02 before i realised just how bad it was. whats even worse is the majority is only over the last couple of months i feel so ashamed of this, i want to pay it all i don't want to declare bankruptcy or write some off if thats even possible.
Its my mess
I really don't want my family and friends to know, i couldn't deal with that pressure as well i already hate my self enough0
This discussion has been closed.
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