Payday loand and Gambling the 'natural born killer duo'

I am 21 and in a DMP (how depressing is that), but I am so glad my credit score has been destoryed because it is SO EASY to get money from payday loans. I mean, I have only recently read up on how bad they used to be...and it was still pretty bad for me even after this big change we've seen.

I have 7 payday loan companies in my debt management plan. And this was from working a part time job at University with no real stable long term income - and I never even lied on the application...I was still approved credit. Madness. I am happy now, because I am paying back every penny I owe, and it'll take me a few years but I'll do it and I will fight this to make sure I can one day be debt free and gamble free.

But I definately think these companies need to accept some responsibility, it's playing on the VERY vulnerable - or else why would you go with such a company..

HowDidItGetToThis wrote:

if hi [quote=Xenedra]

Even though I am fully aware I was making decisions, there should be some responsibility from these companies! Makes me sick to think of not only the money I lost gambling but the money I will loose paying back all the interest on these loans!

Hi I am not sure if you will see this post I really hope you do.......if you have had payday loans in the past and struggled with some to pay back emails the complaint team and ask for a refund explain you coukd not afford them, I have now managed to claw back over £3000 from 6 different companies, you have nothing to lose

Thank you for commenting I will be sure to try this.

Thsi is what the gambling commission sent me in an email 'if you have any examples of specific circumstances regarding consumers taking out pay day loans whilst gambling, we may be able to look in to it further. In order to consider investigation we would need evidence. This would consist of things like gambling transaction records and bank statements that show the pay day loans going in to an individual’s account and then going out to the operator.'

I've had some success with obtaining a refund for unaffordable lending from one payday lender recently. I would say it's certainly worth sending one of the many complaint email templates you can find on the internet if you've had many loans within the last 6 years that you regularly rolled over or they were a large proportion of your income.

That was all I had to do and although the process takes a while, 8 weeks for a final response and then up to 4 weeks for the settlement to reach you approx. I didn't actually have to send any evidence, just my acknowledgement of the final settlement figure and my bank details.

I've now written to the others and hoping it will help clear some debt.

Also, just to add, I didn't mention anything to do with the fact I had been using the money to gamble as I wasn't asked for any information, or bank statements.

I am literally up to my eyeballs in payday loan debts...I work hard but I am so very lonely.Thats where my gambling stems from I am lonely,I get drunk I gamble all my money then I have to find the bill money from somewhere I hate myself so much.

Hi doomed why don't you post in new members section , get some feedback and support. Call gamcare for advice on stopping. Secondly go on debt camel website for debt info. Stepchange are also helpful. You could also go to a GA meeting. Good luck!

Hi Doomed66

Thank you for posting and sharing how you're feeling.

Please give us a call and speak to one of our advisers on the freephone helpline 0808 8020 133 for some support advice and guidance.

I understand how lonliness is affecting you and impacting your gambling so perhaps you could consider some free counselling to help you deal with the effects of your lonliness. http://www.gamcare.org.uk/support-and-counselling/free-counselling

You can also contact a debt agency to help you sort out any outstanding debts you have at the moment.

StepChange Debt Charity provides debt counselling. If you are thinking about taking on a debt management plan (DMP), StepChange Debt Charity provide realistic advice and a DMP with no fees attached. Visit StepChange Debt Remedy - their anonymous, online debt advice service: www.stepchange.org

Hope this helps and we look forward to hearing from you soon.

Kind regards

Cade

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