Join in the chat
Post a Reply | Back to Forum
Gambling Debt - Mark 2018-11-11 10:29:04
Hi everyone

I’ve sadly built up a lot of debt as a result of a continuing gambling problem which has taken over my life since 2016. It’s got to the point that very recently i have taken a number of unsecured loans out and simply gambled them away in the quest to chase my loses. Some on the same day as the money coming into my account. I feel sick, depressed, despair, every negative emotion you can think of. I have taken so many loans out that I simply cannot afford to repay them each money. I have read up on things like DMPS and these of course sound like a good idea but I cannot escape the worry that if o wave the white flag a matter of days after taken the loans the companies will pursue me criminally for effectively footing fraud. Am I being realistic with this fear? I am unable to find any information on the subject. I seeking help for my addiction.

Thanks for listening.

Re: Gambling Debt - Jane 2018-11-18 21:52:13
The good thing is that you are seeking help for the addiction - it is a mental health issue and there is help out there.

It is unlikely that the creditors would pursue you for fraud unless you have assets that could pay the debt even then the costs may outweigh any benefit for them. In a debt management plan - if this is the best advice - then you would be repaying the whole debt anyway but over a much longer period of time.

I would suggest you give Payplan a ring on 08002802816 where a trained adviser can give you more advice for your specific circumstances and level of debt.

You have taken the first steps by acknowledging there is a problem and looking at ways to resolve it so feel good about this.



Confirm Email