hi there.
I had just a small query which I’ve wondered recently,
when ringing my creditors from all my gambling debt, I accept and tell them up front I am a gambling addict and that is the cause of my debt
they always seem to then take a different approach, ask if they can note it on my file and then ask questions in relation to my gambling.
Am I exposing myself to harsher debt collection by being upfront about this or quite the opposite?
Thanks
Hi Nointerest9,
We are not experts in debt advice, but free independent money advice is available from organisations including:
Kind regards
Forum Admin
Hi... good question. I do the same. I just say it as it is. My experience is that it doesn't lead to harsher debt collection, quite the opposite. I think they become more realistic and more likely to accept token payments or no payments at all. Ive had creditors put me on medical holds for months.
I think like in life the banks respond positively to honesty and they are probably just pleased that you are maintaining contact. They know anyway, cos they can see it in your transactions.
Hope this helps a bit
A slight caveat to the above is pay day loan companies. They seem to follow slightly different rules. If you default on them, they are more likely to hassle you, sell your debt on etc etc. Remember they probably lent irresponsibly in the first place and therefore are less sympathetic in how they try to get there money back. Just my opinion anyway.
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