Question about Stepchange

Hi I recommend stepchange they were fantastic they talked through the best options based on my budget and debts and they advised the best option for me. 

They contacted all the creditors/ payday loans/ banks etc I owed money too and they all agreed to stop interest and not contact me except yearly updates. So I received no threatening letters etc. 

I had a debt management plan with stepchange and I really recommend using them very helpful

Lou x

Dear @roulettegotme,

Well done on coming on here and sharing your story. 

Sorry to hear how you have been affected by gambling related harms. It is positive you are taken the steps to regain control of gambling and finances. We hear from many people feeling completely trapped by their financial situation due to gambling. I understand you have some questions and concerns about a plan you set up with Stepchange.  You made a good decision coming on here to get some advice from others who may have been in similar situation to you. I would also encourage you contact Stepchange to share these concerns you are having with them, they will have the correct guidance and information, hopefully this can help reduce some of the uncertainty you are having around your debt management plan with them.

I hear you contemplated suicide and feel you are hitting rock bottom. So sorry to hear you feel like this right now. You are not alone and there is support here for you. 

I would encourage you contact the Samaritans if you are feeling suicidal on 116 123.

Please try and arrange an appointment with your GP. They can offer you some support with your mental health.

I feel you will benefit from talking to someone about your situation. Why not call our advisors on 0808 8020 133 and our 1:1 Livechat, we are open 24/7. They can talk things through with you, even get you referred for 1:1 support.

Stay strong and keep posting.

Best wishes,

Vanessa 

Forum Admin.

Hi, as above, I would definitely recommend Stepchange. Last year I had over £27K debt with 4 credit cards, and am currently a year into my debt management plan. Personally, I contacted all of my debtors and told them my situation due to compulsive gambling and they were all very helpful and glad I was dealing with it through Stepchange. All interest has been stopped and I am paying what I can afford each month. The relief I felt from doing this was immense as it took away the stress of trying to keep up with payments I couldn't afford. 12 months on my cards have all defaulted and the debts transferred to other companies but nothing has changed with the payments. It has destroyed my credit rating for the next 6 years but, lets face it, I was stuffed anyway trying to carry the burden by myself. It's probably the best thing I have done to help me get out of the mess I am in financially so highly recommend you go down this route.

you are only 1 week into your recovery, but well done for making the start. Remember we all start at day 1, it's what happens from now on that counts so get the blockers in place, sort out your debt with Stepchange and get your life back on track. I would also recommend speaking to Gamcare to arrange some counselling, this really helped me being able to talk about everything with no judgement.

I was exactly where you are now last year but am now 14 months gamble free thanks to Gamcare, the blockers including getting my Bank to block gambling transactions and the support of the people closest to me so good luck. Stay strong!

Hello RGM.

You need financial advice and my best advice is to start with the free of charge help like the citizens advice bureau. My local branch were very good and they have seen it all before at every debt level. I dont know about stepchange but I wouldnt use anybody that charge for the service

I have to give you it straight. Ive looked at those figures and a debt relief order or bankruptcy may be an option for you. 

You have to face the reality of how and why they have lent that level of money to you. To a large extent you have to let them do the worrying as they have insurance policies for lending built into the rates of interest they charge. They are business companies who should be well aware of risk assessment. Its not their grannies life savings they have lent you...its business so let them do the worrying. Dont cry for them...its your life you need to sort out starting a ban from gambling

If you feel strong enough you can speak to them directly. They will certainly have to freeze interest as its not sustainable. Whether they accept a token gesture is open to advice but its not going to significantly touch the level of some of those debts.

You are allowed a living allowance and on your income that level of debt is not really sustainable without write offs. Ive been there and I know what im talking about. There is no shame in what you earn and living within your means...however there becomes a point where the debt is just too high to effectively repay

You need professional and legal advice. 

The most important factor is your mental health so you have to focus on what you can handle and let others do the talking for you if necessary. It will probably come out that you have a gambling addiction and i feel it needs to be discussed with the right people.

From my experience there is no point feeling scared. Whats done is done. The lenders bear some responsibility for that level of lending and you bear responsibility for your gambling and spending.

You need every thought process for some peace of mind because there is help and there is life after bankruptcy.

Best wishes from everyone on the forum

It was citizens advice who recommended stepchange to me. Stepchange are a charity helping people to become debt free so it is a free service no catch.

 Because of their help support and advice and placing me on a debt management plan I'm now debt free. They communicated on behalf of me to all the creditors I did not need to contact the creditors myself once so this was a huge relief and stress free process. 

There's lots of options debt management plans, ivas, bankruptcy etc. But overall through looking at your budget and discussing options stepchange will recommend the right option for you before you choose. 

I'd say stepchange saved me I never imagined being debt free after having multiple payday loans credit cards overdrafts etc to fund gambling. And I am now debt free 

There are many firms who are helping people to become debt free and stepchange debt charity number is the one who coordinate to the direct people call 03338803165 and set your loan problem .