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  • FIRST POST
    • Floorspeed
    • By Floorspeed 15th Jan 20, 8:40 AM
    • 8Posts
    • 8Thanks
    Floorspeed
    Debt issues amongst others.
    • #1
    • 15th Jan 20, 8:40 AM
    Debt issues amongst others. 15th Jan 20 at 8:40 AM
    Hi my name is dave, I am currently working as a contractor in Germany for a while now and want to get back to the uk to my girlfriend.

    I have been in debt for over 10 years and pretty much all my adult life due to a gambling problem I have.

    I have addressed some of the problems which keep me in debt like not having access to cards and stopping payday loan companyís allowing me credit by emailing them.

    I can not thank the uk government enough for preventing credit cards being used on gambling sites thatís for sure which come into affect in April this year.

    With all this in mind I better talk about how much debt I am currently in.

    £1515 capital one
    £999 PayPal
    £615 uncle buck payday loan
    £600 Satsuma loans
    £1000 bamboo loans
    £540 Vanquous card
    £430 amazon card
    £108.50 likely loans

    Total £5,807.5

    One of the reasons I always fall back to my old ways is because I donít talk about it. I am hoping by adding this thread that I can progress and become debt free and keep it that way by giving weekly updates and progress reports and hopefully find some helpful tips from people on this forum.

    I welcome any support or advice and hope I can stick with my plan of becoming debt free before my 30th birthday in May.
Page 1
    • Purplemumof2
    • By Purplemumof2 15th Jan 20, 9:23 AM
    • 7,761 Posts
    • 30,278 Thanks
    Purplemumof2
    • #2
    • 15th Jan 20, 9:23 AM
    • #2
    • 15th Jan 20, 9:23 AM
    Good luck on your journey.

    There are some very lovely supportive people on here.

    Keep posting

    Pmo2
    xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    BC: £4100.00 Lloyds: £8000.00 OD £2000 MBNA: GONE
    Jan LTW 11/22 ~ Jan NSD 2/10
    PAYDBX 2020 #041 PD £40.00/£8000
    Xmas Pot £52.85/£500 ~ EF £280/£500
    20p Savers 2020 £2 Savers 2020 50p Savers 2020 SPC 13 2020 #003
    • Floorspeed
    • By Floorspeed 15th Jan 20, 9:43 AM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    • #3
    • 15th Jan 20, 9:43 AM
    • #3
    • 15th Jan 20, 9:43 AM
    Thank you for the support I will keep posting and keep updates.
    • Floorspeed
    • By Floorspeed 16th Jan 20, 11:41 PM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    • #4
    • 16th Jan 20, 11:41 PM
    Week 1 Going down the right path.
    • #4
    • 16th Jan 20, 11:41 PM
    Week one: the beginning of paying back debts and staying gamble free.

    Here is a breakdown of my payments today from my weekly wage.

    £166 bamboo ✅ is the
    £155 satsuma ✅
    £108.5 likely loans ✅
    £35 Vanquous ✅
    £55 capital one
    £15 amazon card ✅
    £60 expenditure for dad ✅

    Total £534.5

    So my first reaction to getting paid was getting a Mac Donaldís but then while I was eating it I was swiftly loggedinto my creditors paying back arrears. The worse one was satsuma loans which hasnít been paid in over 3 weeks which now is a relief it is paid.

    My capital one credit card payment now puts me under my credit limit of £1500 including my Vanquis which putting me under the £500 mark by only £5 but I will hopefully make a further payment next Friday to keep myself way under my limit on that card.

    My likely loans account is finally closed now with my last payment which was a 1 year loan so I am very much happy about that. With my bamboo loan which is another year loan I Made 2 catch up payments for 2 missing weeks of arrears including the normal payment on Friday.

    My amazon credit card for me will be one to chip away with but I am thinking at the moment would it be better to tackle the larger debts first more so than the smaller ones.

    Gambling thoughts and actions: well I have been having thoughts about gambling which in turn have luckily not turn into actions on this weeks pay day. I have walked away from the instruments of death that in-prison My mind into a horrible cycle which in turn would put me into more debt.

    Luckily all cards related to this thread are cut up and canít be used which is helping towards my goal, seems the government changes towards using credit cards for gambling was a bit late coming in my eyes but still very much welcomed.

    I now have £67 for the rest of this week and will be withdrawing this money in euros and it looks like another weekend of staying in and watching Netflix... probably clearing up the flat may take my mind away from betting sites and delusions of grandeur 🤔

    Anyways I will keep people posted and may give daily updates on my thoughts and actions.

    "God grant me the serenity to accept the things I can not change, courage to change the things I can! And the wisdom to know the difference."
    • pidge04
    • By pidge04 16th Jan 20, 11:56 PM
    • 721 Posts
    • 2,618 Thanks
    pidge04
    • #5
    • 16th Jan 20, 11:56 PM
    • #5
    • 16th Jan 20, 11:56 PM
    Rooting for you! You can do this.
    • MovingForwards
    • By MovingForwards 17th Jan 20, 7:55 AM
    • 3,019 Posts
    • 3,625 Thanks
    MovingForwards
    • #6
    • 17th Jan 20, 7:55 AM
    • #6
    • 17th Jan 20, 7:55 AM
    I've seen people on MSE have self-excluded themselves from gambling sites, unfortunately, I haven't looked into what they do to achieve it, but it is something you should seriously consider. I'm sure I've also seen there is an AA-type support group for gamblers.

    As you will be fully aware, it's so easy to slip back into old ways, you need to remove the ability to gamble and find something else to fill the space.

    Wishing you well with getting financially straight and the support you need to be free.
    • Floorspeed
    • By Floorspeed 17th Jan 20, 6:02 PM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    • #7
    • 17th Jan 20, 6:02 PM
    • #7
    • 17th Jan 20, 6:02 PM
    I just wrote a long post and my German IP address got banned by the forum,
    Luckily I have my British phone to be able to log in and post.

    I have self excluded myself and registered on a self exclusion program which alerts a lot of gambling sites that I can register and bet.

    For anyone else that maybe reading who thinks they have a gambling addiction i would advise going to GA meetings locally which were very helpful for myself when I was in the UK.

    Unfortunately I don’t have that support being here in Germany sadly but I am trying to change my patterns of behaviour and this forum is part of that.

    I am unsure but I am thinking of creating a YouTube channel to give progress updates on top of my regular posts here in the forum which would include debts and life problems I have had and overcome and the ones I am dealing with.

    On top of all this I am also bipolar but take medication for that.

    I think my main goal is to get back to the UK and get back to that support and have a flat or house I can call my own and be free.

    I made a cash withdrawal of 70 euros for the week and got my hair cut. With what was left £5.72 I put that straight towards my Vanquis credit card.

    It doesn’t feel great at the moment but if I can do some small steps hopefully that can lead to bigger steps with change of behaviour, thinking and filling that space/void with more useful and productive things that benefit my health in a positive way mentally and physically.
    • Floorspeed
    • By Floorspeed 17th Jan 20, 6:03 PM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    • #8
    • 17th Jan 20, 6:03 PM
    • #8
    • 17th Jan 20, 6:03 PM
    Canít register and bet*
    • Floorspeed
    • By Floorspeed 20th Jan 20, 12:48 PM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    • #9
    • 20th Jan 20, 12:48 PM
    • #9
    • 20th Jan 20, 12:48 PM
    I made a purchase for my girlfriend as she wanted a electric salt and pepper grinder £25.99.

    Unfortunately this purchase was made on my PayPal credit due to making out my debt payments.

    This weeks wage is not going to be able to pay off as much as last week due to work and moving location and needing a buffer of about £200 for any emergency items I might need.

    With this move I will be making more money also and will be sending my girlfriend £250 towards building up some funds to rent so we can move in together when I come back to the uk.

    I have also downloaded a debt calculator which shows the snowball effect if I pay off large debts with the highest interest paid first.

    If my pay is correct and I receive £900 a week on top of a monthly pay of £500 I can be debt free by the end of March and have money to be able to rent back in the uk.

    Itís rather difficult to do a monthly calculation down to the penny because of my pay which varies.

    Next update should be this Friday.
    • enthusiasticsaver
    • By enthusiasticsaver 20th Jan 20, 1:19 PM
    • 9,751 Posts
    • 22,874 Thanks
    enthusiasticsaver
    You have made a good start and I am glad you are addressing the gambling problems. They have caused untold misery for many on this forum. Good idea to save for emergencies alongside paying off debt. You need to know the interest rates so you know which debts to tackle first.

    On the plus side if you normally are able to afford £500+ from a weekly wage then you will get this debt paid off very quickly. Does your girlfriend know about the gambling and the debt?
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Floorspeed
    • By Floorspeed 20th Jan 20, 6:27 PM
    • 8 Posts
    • 8 Thanks
    Floorspeed
    I am aware of the interest on each account and will tackle from high to low.

    My girlfriend is aware of my debt and what’s some what frustrating is that she is also in debt her self sadly. My girlfriend is also aware that I am a compulsive gambler and I have said to her that I can’t do this alone and need help otherwise it’s just a viscous circle.

    I know when I get back I can get the full support I need in regards to the disease that I have!

    Yes the affordability is £500+ each week and I have been juggling numbers most of the day with what I could potential get but nothing is set in stone other than my £250 payment to her.
    • MovingForwards
    • By MovingForwards 20th Jan 20, 6:57 PM
    • 3,019 Posts
    • 3,625 Thanks
    MovingForwards
    One thing I would say is you need to learn to save yourself, it's great that you are sending your GF money every payday*, but you need to be able to save in your own account and draw on your willpower not to take it back out.

    Start small to begin with and look at the 1p a day savings challenge, whilst it won't make you rich in a year, it will give you the skills of saving and not touching the money.

    Once you have done the 1p challenge, next year you can look at the 52 week challenge, bigger pot of money at the end of the year.

    * How much debt is your GF in and what is she doing about it?

    Please don't take this the wrong way but any money in your GFs account is hers, even though you transferred it for her to save.

    Without beating around the bush, if your GF isn't dealing with her debts and gets pushed into making a payment either due to panicking from a debt collector letter or court proceedings, your money could be at risk.
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