Gambling with payday loans
Comments
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jonesMUFCforever wrote: »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.
What so you are saying I am lying? Why would I go through the effort of making this post, what benefit could I possibly achieve by doing that?
My outstanding loans are:
Quickquid £300
Wonga £260
Lending stream £400
Uncle buck £190
Cashasap £115
If you still think I’m lying I will pm you screenshots of my accounts..0 -
Op, with an 18yo lad in my house it is ever so obvious how pervasive the influences of gambling are and how easy it is to bet, despite any restrictions that are in place.
Youngsters are bombarded with ads for gambling sites, clearly targeted at young men. In fact from adverts from the cricket on TV, my 11-yo can recite the entire BET365 ad complete with convincing Ray Winstone impression!
In my day It would be a bit unusual for an 18yo to venture into the smoky world of a Ladbrokes shop, but now it is almost a social norm for the lads to have a 6 way acca on the footie every weekend etc.
Anyway, hopefully posters will now focus on how to move forward - not a huge sum of money - it is possible to throw yourself at the mercy of your parents or a sympathetic grandma?0 -
OP, get it sorted now. We've experienced this with one of our kids, and now it's about sorted, he can see the light at the end of the tunnel. It's hugely worrying and to get it sorted will be a weight off.
Get on to citizens advice or any other local money advice centres, probably based in your local council offices.
For our son, they have contacted everyone he owes money to, the interest is stopped, and he'll pay what he's due over the next 5 years.
Hopefully these companies will now have him blacklisted, and will refuse him loans if he ever slips into gambling again. It's amazing how many of these companies there are, he owes money to loan companies I've never even heard of.
All done with virtually no letters to the house, until he wasn't able to pay what he was due.
Sort this yourself and get help for your gambling. I paid off the first signs of my boys problems (£1500 overdraft) but in hindsight, it just prolonged the issue.0 -
Ok firstly. The best thing here is that you understand what you've done. It does sound (from the limited information provided) you are either addicted or on your way. Now is the time to realise how fast/mind-numbingly easy it is to become addicted. The feeling you "will win - you'll win soon, just chase this loss, if I just deposit a little bit more and bet high it'll happen, it will, I know it will!" never goes away. You need to STOP NOW. People lose all sense of actual money, it's not real money if it's just figures on a screen, a faceless loan. The good news is that you've caught it reasonably early. You can and will sort this. You've simply made mistakes, - this is not your story for life.
Well done on posting on the forum. No judgement here - just support.
As you know what you owe to whom, contact them. Let them know the story and ask them how they can help. It's their interests you pay something towards the loans.
You can and will do this. Deal with it head on.
It's not a life sentence. Not too far down track it will be but a memory.0 -
What so you are saying I am lying? Why would I go through the effort of making this post, what benefit could I possibly achieve by doing that?
My outstanding loans are:
Quickquid £300
Wonga £260
Lending stream £400
Uncle buck £190
Cashasap £115
If you still think I’m lying I will pm you screenshots of my accounts..
There are plenty of users on here who like to post complete works of fantasy, mostly because they have empty lives and find it amusing to troll internet forums. Rather sad and pathetic, but there you go.0 -
You also get extra points if you spell your name correctly on the applicationjonesMUFCforever wrote: »...........plus a credit check which would reveal past applications and arouse suspicion .....if it happened of course.
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There is a massive boom of numbers of people contacting GA especially due to the FOBT machines in bookies.I saw one guy lose 2k in under an hour.
Also the many web based bookmakers are seeing 'lifetime self-exclusion' clauses put into place where they can ban you on request for 1 year,5 years or even life.0 -
Most places esp shops have students and offer flexible working.
Contrary to popular belief, most shop jobs aren't very flexible as they require staff in when they are needed in. It's not like your average office/public sector non job where you can ring in on the morning and take the day off as a holiday - no probs the work can wait till tomorrow...0 -
Hopefully you’re all sorted now.
I too have used payday loans for my gambling addiction. I actually worked up about 8.5k just in payday loans alone so it can get worse.
You need to speak to these companies, and tell them the truth. They will be happy to freeze the loans a period of time but you’ll need to work to get these paid. I understand it’s hard to open up to your parents about these things, but if you’re fortunate enough would they be willing to pay these off and you set up an with your parents to pay back?0 -
I fell into the same trap and was doing it for years but never high enough loans I couldn't cover with a couple of pay checks but recently got myself into a total of £8k of debt (before additional interest on loans was getting applied). This was made up of payday loans, credit card debts and bank overdraft. I wised up and got my head out of the bubble. Came clean to my mates who knew I had history of this and they lent me some of the money so I could make monthly payments and in some cases higher payments on loans to reduce the interest. I was then more savvy with money, taking advantage of 0% purvhases payment periods to reduce the interest on higher loans and hopefully will be debt free in the next 8-10 months.
You can do it but being honest with yourself and others around you is the only way as then they can scrutinise but support you so you then don't think you're not just letting yourself down but them as well.
Good luck.0
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