Debt

Hi BS step change is the one I've heard of. Call gamcare they will have advice.

stepchange or dmp direct

there is a website called debt camel that it might be worth having a read through

it's a horrible place to be and whatever you do just don't bury your head, if you get onto this now you have a chance of avoiding 6+ years worth of damage

I'm sure you know this but you also need to get on top of the gambling else whatever you do will be pointless

best wishes

Look for a free debt advice charity. Mr L used Payplan and they were very good. Stepchange is another that many here have had good results with. A DMP should reduce your payments to affordable levels and get interest and charges frozen for the duration.If you're short of time a direct approach to the lenders may be useful.

Agree with CG though. Anything you set up will be useless without the commitment to stop gambling.

Hi,

I am in a similar boat, I have 11 outstanding pay day loans amoungst other debt totalling £20K, at least £12K is all gambling related.

I have just entered a DMP with Stepchange and cannot fault them. My first payment comes out on the 1st September and I have never felt relief like it. All (aside from one or two) creditors stopped contact as soon as they knew Stepchange were taking charge. And all will be managed on my behalf and the service is free. I pay one set amount (so simiilar set up to debt consolodation loan but ZERO interest) and thats it.

Best thing iv done. It also prevents me from applying for more credit as i am HIGHLY likley to be refused but if used correctly DMP's can actually improve your credit rating, as your making payments to all debts and the balenences are coming down. My credit rating is awful, in one month I made 90 credit applications for Payday loans in my desperation I would just continually apply and what I didnt realise is less reputable compaines allow other compaines to run credit checks and then send you 'pre approved' emails). So its put a stop to that for me. If i stick to my plan I should be debt free in 4 years and 1 month which is fantastic.

Good luck!! Happy to help more if needed.,

Xenedra - that sounds like a big relief and a great step fprward.

I'm not sure how it works exactly but from what you have written it sounds like you would have a very strong case for having some of those loans classed as 'unaffordable'. I would recommend you take advice/ speak with stepchange as to the best course of action. potentially some of the loans could be struck from your records/ interest refunded - however I wouldn't get carried away and would seek further advice but it must be worth looking into

I will speak with them again now it is all in place as I have heard similar.

The thing is I chose not to give a reason for my debt when they asked (too ashamed even to tell an annyomous person on the phone at that time). Also due to my profession, I could be called to a fitness to pratice if my gambling was looked into or it started to impact on my judgements etc (so aside from here where I feel is safe and I obviously have the aliais) I am reluctant to tell my debtors. Seems silly, but the thought of risking my job is too much.

Are you looking in to it?

Thanks everybody for the replies, I will look into all the options suggested asap.

Much appreciated

Hello blue,

I got myself in debt as a result of gambling too. Thankfully it's now manageable thanks to step change I would recommend them to anybody in a similar position to me.

I've written a blog post which may help

All the best

Conradnose