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Hi

I have been a complete idiot and got hooked on gambling

 

i have taken out so many pay day loans

 

i went to payplan set up a dmp

 

but i am having difficulty paying it as i took out more loans to feed my habbit.

 

I have stopped

 

but all are chasing me

 

do I tell them about my addiction as they want to know why i cant pay.

 

owe £7000 arrears on mortgage and have broken so many arrangements

 

i think they will repossess my house.

 

If they start proceedings what happens if I can prove i can pay a little back each month

will they stop the repossession.

 

I dont think they will agree to any more arrangements shoulld i tell them the truth

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From my experience honesty is the best policy, I dont think you have done anythong wrong, explain that pay plan is dealing with things for you so you can fight this addiction and start a fresh at the same time ensuring every creditor gets paid back.

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A gambling addiction caused me to take out payday loans and my bank at one stage expressed serious concern as to the state of my account and said it may result in them procedding to close it. My statements were dominated with a high number of daily transactions from gambling sites, payday loan sites and being consistently overdrawn each month which resulted in added charges. I explained to them in full as to why this addiction had arisen and they were very sympathetic and helped me to start dealing with it all. It was of course inititally tough and it's taken about six months for me to get into a position whereby I can see a light at the end of the tunnel. My desire to gamble has stopped and thanks to this site I learnt about my rights in regards to defaulting on PDLs. If you can take measures to prove you are serious in stopping the gambling and dealing with the debt then being openly honest could help you. I wouldn't tell the PDL company about your addiction because they might use it against you but do try and tell a more 'official business' about your desire and willingness to turn around your situation.

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Mortage comes first. Tell the pdls to take a running jump for now. Even if they tried court action, a judge would probably tell them the same. never put off your essential outgoings to repay a pdl.

 

Get in touch with your mortgage provider asap and negotiate repayments. Do not let pdls try and prioritise themselves over it.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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thanks for advce and support nice to know there is light at end of tunnel just worried about telling people about how stupid i have been

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