Im around 15k in debt. and have no way to pay it back basically without turning to crime or keep gambling trying to get that big lift.
Every month after tax I receive around £950, Out of the £950, £75 goes to my car Insurance, £130 goes to bank where I took a loan out from. Diesel is £100 a month, Rent, Bills is around £300 a month. Then your talking £150 on food, So that leaves me with less than £200 to try and pay this debt back and thats with me not living any sort of life.
Money I owe is too friends and family basically and the banks.
Im angry, depressed and at breaking point. Not sleeping and feeling like its the end off the road.
Not many know that Im in such debt, I keep it from everyone as alot would turn their back on me.
I want to stop gambling but then what do I do about the debt. I know Im getting into more debt but at the minute lets say if i pay £200 a month out and that's not living at all, no nights out, no cinema, no drinks, no holidays, no clothes, forgetting about presents,wedding and everything else life throws at you etc etc etc, then it would take nearly 7 years to repay the debt, I can't live 7 years like that.
Its my own fault I know and I probably deserve this.
Anyone else have a similar problem with how to proceed. Its like a maze and you keep going because there is no way out.
Hi, firstly I want to say how sorry I am about your situation, I really feel for you. This site and the Gamcare organisation (if you contact them) will offer you tremendous support. So a way forward ? i think you should stop gambling because the chances are you will end up in much more debt. Secondly contact 'stepchange' and arrange a meeting, they will assist you with a budgeting plan to pay your debt and live a little. You do not have any available assets/cash to continue gambling so that must stop. I would suggest if you are not too tired at the end of your working day to seek a second part-time employment which would help to pay for such things as presents etc. Please contact gamcare they will support you through this torrid time.
Hi, your debt and income sounds very similar to mine. I was in that position where I thought the only way I was going to get out of this mess was by gambling and hoping for a big win. That big win never came, and the losses got bigger.
I have controlled my gambling at the moment as I know I will not sort my debt out that way, but it's frustrating knowing that it may be 6/7 years of paying off debt.
I would suggest a debt management plan to see if your repayments can be reduced, I have not done that myself as I thankfully have just had a bonus from work to give me a bit of breathing space.
I have a recovery diary if you want to read it, may provide some help or just so you realise things can get better by not gambling.
Thanks for sharing your thoughts. In our economy today, I think debt forgiveness is an excellent thing for you. A loan provider that decides to forgive some part of one's loans is good, but it includes a caveat. The hitch is that the forgiven debt is treated and taxed as income by the Internal Revenue Service, which will hurt come tax season. With a personal loan, you can pay your debt.
Sorry to hear you're in this hell, personal debt to friends and family made me want to kill myself at one point. However, though this time I got myself out of debt by luck...a year or so ago, I repaid the debt by work. I realized I was in a job that was never going to pay me enough to clear and I did my best to find a job that paid better. You need to do the same, find a job, that pays more. Whatever you do now has to be about reducing your debt. It can happen.
15k isn't a lot, this is your life we are talking about. A 2nd chance at it, via clearing this. If someone said you had to pay 15k to get rid of cancer that you have, you'd get that money. Treat this no differently!
Hi I'm so sorry about your current situation. At the moment you have £200 spare which isn't a lot but if you continue to keep gambling this will be zero in no time. Tell your friends and family what you've been doing with your money and go get the debt advice. I bet you will feel so much relief doing this then using your last few pounds to try and get a big win. I'm sure they will be there to support you and help you through it. It's a manageable amount of money which I'm sure has plenty of options in debt repayment so you can actually have a bit if social life as well. Don't spend any more days living like this take each day at a time.
I would recommend Step Change for debt advice. They certainly helped me and know I know if I do not gamble I have enough money to live on. My payments for debt have more than halfed with their help.
We are available 24 hours a day, every day of the year. You can also contact us for free on 0808 80 20 133. If you would like to find out more about the service before you start, including information on confidentiality, please click below. Call recordings and chat transcripts are saved for 28 days for quality assurance.
