Hi, I’ve just joined today following a massive loss on online slots (£10k). It was money taken out on a loan to pay other gambling debts and I stupidly thought I could win some more to clear the full amount. My credit card is maxed out and I owe around £40k in loans now. If I didn’t have my dog I’d probably do myself in as I feel I’ve hit rock bottom. I was always career motivated and wanted to get on in life but got the gambling bug after a couple of minor wins years ago and it’s gone downhill from there. Ten years on and I’m technically bankrupt and fear I’m going to lose my house now. I’ve contacted Stepchange for help but wonder if anyone has been in a similar position and got through it? What do I do and how to get back from the mess I’ve got myself into?? Will I lose my house if I go bankrupt? I’ve got £100 to my name until I get paid in four weeks so won’t make any payments on any loans or the mortgage. It’s the wake up call I needed but how do I move on?? Any advice would be great, thanks in advance guys.
Can’t give advice because I’m in a similar situation.
Glad you have your dog.
As dark as things are now I do believe that not gambling is the way to turn things around. Slow and steady.
Carol
Thanks Carol
On top of the panic I feel about missing payments on all my outgoings, including my mortgage, I know you’re right about not gambling. I don’t even have anything of value to sell to recoup money (other than my house) so I literally cannot gamble even if the urge is there.
I'm sorry to hear you’re in the same position and hope you too can find a way forward.
Hi both..
I understand what you’re going through and feel for you both, designo, have you tried contacting stepchange yet? Theres things like IVA’s which is not as severe as bankruptcy.
In regards to your mortgage, bankruptcy would mean the official receiver might register an interest in your house if its in good equity and may force a sale if required, so I’d definitely suggest working with your lenders first before going down that road, i know mortgages is hot on financial difficulties at the moment and their are loads of options they look at.
I need to contact stepchange myself regarding my unsecured debt due to gambling. I hope theres a light at the end of the tunnel.
Good luck and remember these feelings next time you wanna log in and play.
Thank you distraught 1. I will take your advice and look at an Iva rather than bankruptcy. I’m hoping to keep my house but it has good equity (just short of what I owe) and I’m unlikely to get another mortgage with an Iva.
I never thought I would be one of those people who would risk everything on a bet and feel so stupid despite having a responsible job and good salary. I think the feelings of despair and self loathing are enough to stop e every gambling again.
I really hope you seek the help you need and things turn around for you too.
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