Hi all, i am at the start of my none gambling journey after 31 years of hard gambling, currently 50k of debt, i kno w about bankrupcy and iva s etc but i am in a different debt situation. I currently have gaurantor loans up to my eyeballs so its not an easy one. Any advice on this would help, I now you cannot include these loans in iva etc and obvouisley do not want my gaurantors to pay... Really in a bad place at the moment, and i am sure i am in th right place..
Not sure what advice you're after. Bottom line is if you can't pay them the creditors will look to your guarantors either through an IVA or directly. Have you spoken to the lenders to see if there's any kind of arrangement they might agree to?
I will call them tomorrow for reduced payments, i have not paid any of them as ive blown all my money. My situation is a weird one as my debts are to people and them type of loans so i cannot just not pay them and enter an iva etc... really got a problem and do not know what to do..
'People' can wait. the official ones won't. AFAICS you can put a guarantor loan into an IVA but the creditors will look to the guarantors if you can't/don't pay. They don't care where it comes from. You could try the MSE Debt Free Wannabe board, Debt Camel or the CAB for further advice alternatively a free charity like Payplan or Stepchange but at the end of the day unless the guarantors can prove they were misadvised or left unaware of their potential liabilty they are in the firing line.
Hello Steve1968
Welcome to the GamCare forum. If you're looking for debt advice, we would definitely suggest you contact the experts at National Debtline, Stepchange or PayPlan. I'm not sure what you mean by 'people' but if those people are charging you interest, if they lend to others as well as you, or if they threaten you with violence if you don't pay, then they could be illegal moneylenders, in which case we'd suggest contacting the relevant Illegal Moneylending Team: https://www.gov.uk/report-loan-shark.
You said you've got into this situation after 30 years of hard gambling. If you're ready to make a change to your gambling we can help. Why not give us a call on the HelpLine on 0808 8020 133 or chat to us on the NetLine? In the meantime I hope you continue to get support from our forum members.
Best wishes
Forum Admin
Hi thankyou, people are whoever has lent me money or i have stolen from but they do not know yet. Loans-G-loans, Hope there is a way back.. i have called stepchange or money plan before and there is nothing that can be done for g-loans.. just hope they can reduce my payments and i find about 3 grand lying in the road as i am not going to place another bet again.. thanks for listening..
Hi Steve,
Sounds like quite the predicament you are in.....the only thing I would say is that the money is gone.
Unfortunately the way our brains work is to tell us to gamble to make up any shortfalls in our outgoings and we have all been there.
I have no experience with g-loans but I assume like others have stayed they will go straight after your guarantor.
Best of luck
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