Gambling with payday loans

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  • Sncjw
    Sncjw Posts: 3,509 Forumite
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    Do your parents know. I!!!8217;m guessing you still live at home. If so they will probably question letters from payday loan companies so they will find out sooner or later.
    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

  • System
    System Posts: 178,094 Community Admin
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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?

    You can work after school, you can work weekends. My brothers did a law degree and business degree both whilst working fulltime on an evening.

    Payday loan companies cannot prosecute you, they're unlikely to report you for fraud. As long as you're making payments then you'll not end up in county court fighting a CCJ.

    Please contact Gamblers Anon and get some help before it gets worse.
  • worried_jim
    worried_jim Posts: 11,631 Forumite
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    GDEKS wrote: »
    I have no clue how to get myself out of this mess so looking for any tips, thanks.

    https://www.gamblersanonymous.org.uk/
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Why did you gameble in the first place ?

    Will the same reason cause you to start gambling again ?

    Any family you can talk to to help with paying the lenders off and then you pay back the family member.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Don't even payday loans check for affordability these days?

    Me thinks its Jackanory time.
  • Shakin_Steve
    Shakin_Steve Posts: 2,701 Forumite
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    jonesMUFCforever wrote: »
    Don't even payday loans check for affordability these days?

    .
    Yes. They look at what you write on your application form and think "Yeah......should be okay ". :rotfl:
    I came into this world with nothing and I've got most of it left.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Shakin_Steve wrote: »
    Yes. They look at what you write on your application form and think "Yeah......should be okay ". :rotfl:

    ...........plus a credit check which would reveal past applications and arouse suspicion .....if it happened of course.
  • GDEKS
    GDEKS Posts: 5 Forumite
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    What do you mean if it happened ??
  • z1a
    z1a Posts: 2,522 Forumite
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    Sncjw wrote: »
    Do your parents know. I!!!8217;m guessing you still live at home. If so they will probably question letters from payday loan companies so they will find out sooner or later.

    Don't most people live at home?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    GDEKS wrote: »
    What do you mean if it happened ??

    You say that you lost all of your money gambling - so at that time you are not in debt just no money - why would you get payday loans?
    Even payday loans credit score you these days and at 18 with no history of borrowing money I find it highly unlikely they even would lend to you.
    Some bank accounts for 18 year olds won't even let you gamble due to type of card issued.
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