Advice on Finances

Dear @ccpt, 

Thank you for posting on the forum, I am sure some of our great forum users will be able to offer you some great advice. 

Below are some links for free,impartial, independent money/debt advice for you to have a look at, 

Money Advice Service: www.moneyadviceservice.org.uk

National Debtline: www.nationaldebtline.co.uk 

Debt Advice Foundation: www.debtadvicefoundation.org

Talk About Debt: www.talkaboutdebt.co.uk

We also have some good information regarding mental health and depression on our website that you might like to take a look at. Just scroll down the page to find information that could be useful for you. 

You are also welcome to call our HelpLine to talk more about this on 0808 8020 133. We are open 24/7 and also have Livechat available. 

All the best, 

John

Forum Admin

Hi @frogman

Appreciate the reply. 

Currently self employed sole trader and do have both personal and business debt that was caused from gambling. I'm annoyed of the situation that I've put myself in. 

Thank you for sharing your story and glad you are in a better place - I'm probably similar in your shoes. Quite intrigue with speaking to lenders refunds, how did you approach them about it? 

I haven't received any letters or anything yet, as I'm just about enough to pay some things - just in deep into my overdrafts and credit card around 80% used - like you said I think I need to start prioritise where I'm paying my debt off. 

I think what is kinda stressing me out and giving me uneasy sleep is knowing the amount of debt there and how and when will it all get paid off. 

Thank you. 

Hi ccpt and welcome

I would just like to say here that openness and honesty are your saviours Even though you need financial advice you cant bypass dealing with the root of the problem.

I will give you the reality check again that is a lot of money from your annual income. I would hesitate to use the word hiccup and I hope you can talk things through. I dont know how close your accountant is but please remember honesty with people that can truly help you is key here.

I will give you another reality check that you need to think about. I wouldnt knowingly lend 30k to a gambler but that is just to focus your mind on the issue and help you need here. Im sure if you work hard and schedule your bills your business will be fine.

Now with a viable business you will get financial help but this is a deadly addiction which creates comfort zones and comes back at you with various trigger points.

Have you told anyone close to you because you really need to. There is no shame in admitting this got to you as you are one of countless millions that got addicted.

The gambling must stop and that takes a born again moment with people monitoring you closely. Its got nothing to do with casual willpower and actually getting a loan gives this addiction a breather or second wind to work on you again

This addiction loves secrets and mind control...it will bide its time if given free reign. It loves telling you that you are  grown man with a tidy business because that plays in its favour. I see it in your writing and you have to be humble in the face of the most powerful addiction I know. You need to face it full on or it will come back at you

This is nothing about ego or projected income. You need help and I hope you are getting it. You actually need to be living on an allowance and providing receipts...if that conflicts too much with your idea about yourself you may not be as ready as you think you are.

Yes by all means get financial advice but the root of the problem needs to be firmly under control. You can never be complacent ever again but that should be a positive statement

best wishes from everyone on the forum