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    • I'm on happy pills (anti depressants) but they aren't cutting the mustard anymore and I do need to see my GP soon to see if he can help in anyway. With regards to gambling it's so complicated; through my life I have made money (as well as having had some jobs)  being a "professional gambler" (gambling where the odds are in your favour - think card counting for example, fruit machines years ago for a long time.... Other things.) But I've also been totally compulsive at the same time. It;'s so entrenched in my psyche that it's hard to imagine just giving it up totally. I also have drug issues that have plagued me and it's a shame because I am fairly intelligent and could have been successful in life in theory but mainly due to those two things (and not really having any drive, ambition, whatever... I could go on and on but this isn't a therapy forum :P) I've not managed to. I'm 36 by the way. Cheers
    • Oh I just remembered I have a long defaulted account with Halifax balance approx £3700 I believe (from around 2015) but they aren't chasing me for it or anything. It was actually over £5000 but they refunded me a load of unfair charges (their words)  This does however push me over the £20,000 limit for a DRO I think?  
    • Hi.   I think you've made a good start by setting out in writing what you need to deal with. People should be along later to advise on how to deal with your creditors.   For the mental side of things, have you talked to your GP about getting some help with what's getting you down? Or support with the gambling issues?   HB
    • Hi people.   So I've managed to get myself into a sorry state financially. I'm insanely depressed which I guess is common for many. I don't think all of it comes down to the financial stuff but it is really crushing me now.   Facts: A lot of debt has been due to living on credit and gambling. I don't have a job. I know I should get one but I just totally despondant at the moment (due to many reasons). I don't expect any sympathy but I thought I would share this.   It's tempting to bury my head in the sand and wait for the inevitable calls from various collections departments but I want to be as proactive as possible. I think I've cancelled all direct debits so I don't get bouncing charges from the banks...   So onto the debts:   Loans livelend; £2400 was 4k 13% interest Bamboo £3000 (only just made the first payment this month) supid interest Likelyloans approx £3500 stupid interest  One payday loan for £200 I just got to cover some bills (knowing that I'd unlikely be able to pay it) - this is the only thing I haven't cancelled with the bank as they just take it from your card   Credit cards: Aqua approx. 3900 Capital one approx. 1200 Amazon approx £500 Paypal Credit Approx £1100 Overdrafts Santander £1500 Barclays £1k limit (I don't actually pay anything for this)   So all in all approximately £18,000     I also have a negative Paypal balance of £5000 but I don't believe this classes as a debt and I don't think they can do anything about this having read up on it quite a lot.   I guess my question is what is my best course of action. Should I look to do a DRO? Should I go bankrupt? (eurgh. Full disclosure I did this 15 years ago when I was 21. You think I would have learnt!) Should I write to each creditor and offer them £1 a month? Should I talk to one of the debt charities?   It is all my fault that I'm in this state but I also know that it's not the end of the world because they are all non priority debts. I probably am slightly behind on the council tax but not significantly.   I started claiming universal credit a couple of weeks ago and had my first appointment last week but managed to miss the next one due to not being able to sleep and then oversleeping and so I guess they've probably kicked me off that already and I might have to claim again.    So yeah. I take responsibility for what's happened but I don't see any way out. I've been very depressed lately due to this and other things. There is no one to "bail me out" and I probably don't need or want that anyway. Any advice appreciated          
    • Hi All,   I left the UAE 2 years ago. Have my bank clearance letter from HSBC.  I have been receiving emails from a company based in Hemel Hampstead IDRWW about money owed to the bank of RAK in the UAE which I’ve ignored as thought it was spam. I have now received a letter through the post saying the same thing (no idea how they have got my new address) that they are acting on behalf of RAK bank. I’ve never had an account with them but know how dodgy things are over there so would be nervous going back!.... Do I just ignore it or reply? It must be identity theft?  I am also nervous about travelling as I travel a lot & wouldn’t want to be arrested!!  I obviously have no intent on paying a debt that is not mine plus have no assets here anyway... Can they actually take me to court for something that isn’t mine??  Any info gratefully received.  Have spoken to citizens advice & they couldn’t help. Thankyou   
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sillyboy15

Debt totalling to 6.5k - help required

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Hello I am a young male, less than 25 years old and I need to get out of this situation as

I am a bright guy with good aspirations, just made a lot of mistakes when I was younger. I

 

am struggling at the moment to manage my debts.

 

I am starting to lose motivation due to stress and I really need to get this sorted as soon as possible for the good of my own health

so I thought I'd come here and see what you guys think about my plan.

 

My wages are approximately £1000.00 a month, with a phone bill of £50 a month and board payment of £100.00.

 

Let's start with the debt

- I have 2x utility bills (EON/United Utilities) of approx £160 each to pay from a previous property,

these haven't been passed to a DCA or anything but are starting to push for payment by the end of January.

 

I have 6x payday loan debts totalling to £1250.00.

 

I have a capital one credit card with a balance of £160.00.

 

A Natwest Gold Mastercard with £1300.00 balance, this has been passed to Triton who are pushing me for payment

and have issued a letter saying they will be sending someone round to my property.

 

Littlewoods account passed to NDR Money with a balance of £900 approx.

 

Very account in arrears, balance of £1300.00, hasn't been passed to a DCA yet but I am in arrears.

 

Loan with a company similar to Pounds to Pocket, not in arrears, up to date with payments with a balance of £1600 approx.

 

 

The Plan - My credit file is massively ruined anyway,

so I am not bothered about late payments to creditors.

I doubt that I am close to court summons,

 

on 31st December when I get paid, I was going to clear the total balance of the Payday Loan lenders with a little help

and demand they block me from using their services, as to be honest, these are what have got me in this mess in the first place.

 

That would mean from 31st January's pay, I will be much much more financially stable and already in much less of a mess.

 

I was then going to contact each of the other creditors to arrange payment plans with them

but I wondered what the best way to do this is as they are extremeley pushy, disrespectful and awful to deal with over the phone.

 

I genuinely believe that the best option for me is to pay off all these payday loans,

as it is mentally battling on every payday to mess about with choosing extension fees etc or re-loaning.

 

I know that these are classed as non-priority debts but I feel that paying these off will make me feel a lot stronger mentally.

 

I await your opinions and responses :) Thanks

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Hi sillyboy15

 

Just thought I'd give you a quick heads up about the outstanding balance with us.

 

If you're able to set up a payment arrangement, we'll be able to look at spreading the balance over a more manageable period.

 

We won't charge you interest and it'll also stop any debt follow up.

 

I do understand this is only a small part of what you're having to deal with but hope it helps a little. Best of luck with the other issues you mention.

 

Malc

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Thank you Malc for your input here.

 

Regards

 

Andy


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Hi & welcome, I am guessing these debts are all quite recent? Post 2007?

 

You are correct, non of these are priority debts.

 

You have to do what is best for you, and only you can decide what.

 

PDL attract a criminally ridiculous interest rate so getting shot of them is probably best.

 

Writing to the other creditors is definitely a good move, but you take control, they will try and exert their deluded authority to force you to pay what you can't afford, you tell them what you will pay, they do not dictate to you.

 

There are hardship letters you can send to support your case, and you MUST keep everything in writing, the only reason why they are so pushy on the phone, is because they think they can get away with it, and people don't record phonecalls, so unless you can record your calls, keep everything in writing.


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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