Bankruptcy or debt settlement?

@fz7 I personally have no idea!  Can you spray to citizens advice maybe? I’m hope you get the best outcome. 

stay focused and strong. 

Hi fz7

Your question is a good one; as we know all too well, this addiction often leaves us with a huge hit to our finances, sometimes leaving us in debt and positions as you’ve described.

The very first step, as Ash has suggested in her excellent advice, is to talk to someone. Citizens Advice are very good, and you may also consider GamCare for a 1-2-1 chat, or maybe Stepchange, an agency that helps consolidate debts, freeze interest and reduce payments. There’s IVAs, a scheme that helps brings things back into control. Again, the suggested agencies and support networks above will help.

We are all in different positions in our journey, and the answer to your question will be highly personalised to you.

So do consider talking to one of the experts above. There’s also information about managing finances in this website.

One thing you may wish to consider. If you have lots of debts from different sources, it might be worth taking time to work out the sum of all these debts, the interest you’re paying it, so you know exactly where you are. It can be painful, this, but it will help you take stock and prepare for managing the situation.

And finally, the underlying issue that may have helped lead to this debt. Here’s an opportunity to help deal with this, too.

Do consider chatting to GamCare, just, again, to take stock and consider why it’s been happening and how it can be addressed.

The fact you’re here shows willing - and you can always keep posting questions or your experiences here on the Forums.

We are all here to listen and help you consider any decisions and actions that we might suggest. The better informed you are often means you’ll make better decisions, if you feel they suit and will help you.

Try not to feel overwhelmed; calm and steady will help get you back to where you feel you need to be. And it is stressful; remember your doctor is there to help, and there’s plenty of support in other ways, like counselling. You never need to be alone 🙂

all the best to you!