Hi guys
I'm a bit new to all this but have decided to make a big change in my life. For the last 5/6 years I have gambled every day up until I decided enough was enough and my last bet was 27th Dec 2014. My finances have got so bad, I am considering going down the IVA route. I know this is not going to be an easy or quick resolution but just wondered if anyone else had been through a similar situation and had any hints or advice on this matter.
Thanks
Hi Chris. We are similar in that I have gambled for 5/6 years and have massive financial problems due to my losses. Ihave just chosen a dmp over an IVA for an initial six months while I try to stop gambling. I have had to move house and have already messed up and lost my next months rent. I have been desperatly trying to beg steal and borrow to cover this. Perhaps we could track our journey.
We have to try to make the changes before it is too late
Best wishes . Sammy
Hi, I have never had an IVA but I went through Payplan with a less formal debt management plan. Went OK, got a bit hassle from credit card companies at first but I was paying back as much as I could afford so there was nothing they could do. Paid back roughly 27K over 7 years.
Hi sammy50. I'm really sorry to hear about your situation, have you stopped gambling? I'm finding it tough but getting through and feeling a lot better for it. I remember waking up Monday mornings dreading checking my bank account and seeing the damage I had done. Have looked into dmp that you and DeLorean mentioned in your posts and looks the better of a bad bunch!!
Keep going,
Chris
Chris_82... Hello there - for what it's worth you might want to reconsider taking out a DMP - these things are very short term and really only benefit the DMP firms, as they keep most of your monthly payments for quite sometime! If your serious about trying to get the finances sorted then an IVA or potentially Bankruptcy could well give you a better and more permanet solution as a DMP will help initially but it's only really deferring the problem and won't actually fix it
Good Luck with whatever you decide to do
If you go to an organisation like Payplan or Step Change , they deal with your situation for free, there are no charges taken from the money you pay to your creditors. Never use a company charging you for their services. As I said earlier my DMP lasted over 7 years.
If you contact Payplan or Step Change they will advise of the best course of action depending on your circumstances.
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