Debt advice

Writing debts off isn’t the cure to the gambling addiction I’m afraid - however you can use the debt as a powerful reminder not to gamble again. 

Take it from me - I have accumulated and currently in debt of £50k in just one year of gambling. I was in a very dark place and even contemplated taking my own life. The reason why it got to that number was I was always worrying about how I am winning it all back, or paying the debt that is mounting up. The day I reached out to Stepchange and started a payment plan was the day I really started to things clearly which was the start of my recovery journey. I have decided to accept the fact  that it all needs to end and I really won’t see a penny back. It’s lost and gone. Now, I have not placed a single bet for over 2 months and I am in a much better place. The debt is painful, believe me I know - my plan is over 9 years and will be repaying around £500 a month towards it- and for 9 years. Somehow because of this -  I managed to find the strength and enjoy the little things in life. Infact the debt is a very strong reminder why I shouldn’t gamble again- but don’t think that there is a way of writing these debts off- trust me there isn’t. But do let me know if you find out. Maybe sorting out your payments by contacting a debt solution charity or provider to give you some breathing space might help- this certainly did for me. I stopped completely when this was all laid out. The first few weeks are hard- but it does get better.  I wish you all the best in your recovery. 

Very wise words, well said. 
In the 7 years of being an addict, I have lost over £130k which was borrowed through loans & remortgaging. 
If I can keep clean, then my loans will be paid off next September but I know the loan cycle will start all over again. 

As another poster has mentioned looking for a quick way out isn't really the answer

Its not accepting the problem , in true addict fashion you are just running from it 

Stop gambling , pay the debt it will serve you better in the long run 

Hi Rich88

We want to listen to your full story. Please tell  trusted people close about your gambling.

Your mental health comes first. There are options but we are not financial advisors. We dont know all the details about your finances and nor should we

This is a matter for the citizens advice bureau or someone in the financial world. There are options and it would be your decision

The gambling must stop so please talk some more about that

you can have a gamble free life and Im much better for it

Best wishes from us all

Hello Rich88

Thank you for reaching out for support. We would agree with the forum users who have said that it would be best to get expert debt advice on this. We have some suggestions for sources of free, impartial debt advice at the following page on our website:

https://www.gamcare.org.uk/self-help/money-management/

You wouldn't be boring us by telling us how bad your gambling is. We'd like to be able to help you get out of this cycle, otherwise your debt may get worse. Why not contact us on our Freephone 0808 8020 133 or by Livechat? We're here 24/7. 

Best wishes,

Deirdre
Forum Admin