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Lots of debt due to Gambling.


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Apologies that this is similar to other posts but not quite what I need

 

I'm a home owner but took the mortgage when I lived with my mum as she wasn't in full time employment, and I paid it as board after she gifted me the house sale money from when her and my dad divorced.

so although I'm the owner it really is my mums house.

£12k mortgage

and £9k secured loan remainig

 

I've had a gambling debt before and paid it all off using payplan apart from a loan I got against the house when I lived with my mum.

 

I'm now married but not on the mortgage of our house and my wife is the owner

 

January 2019 I gambled again using paypal

- There was a switch you could tick and I didn't need any funds on my account.

I chased and chased and ended up losing £54,000 over a couple of days.

 

I quickly got loans as my credit had got better as it was 6+ years after my IVA for what I could and used overdrafts and credit cards to pay as much as I could back to Paypal.

 

I had no idea how much Id lost until it came through a few days later.

I still owe paypal £15,100 who have now passed their debt on to wescot 

 

I contacted paypal at the time and said it shouldn't be allowed to deposit that much without some sort of check

but they said as they don't lend

they don't have to comply with a lending agreement.

seems worse than a payday loan to me ?

 

has anyone took this similar situation to court or anything.

I know I was wrong for gambling but I genuinely thought at the time I would win more and pay it back which is why I kept going !

 

So now I owe 

 

Paypal - Wescot - 15,100 no agreement to pay anything back

ratesetter loan £11,150 - they wouldn't agree a plan to pay £1 per month but seems they've passed it on to Cabot financial and I've not contacted them yet.

Aqua master card 5,800 - passed on to cabot financial and £1 payment agreed per month

Hitachi loan £14,500 - no agreement in place just received a letter saying I now owe the full balance

Halifax loan £4,500 - agreed to pay £1 per month

Halifax overdraft £210.00 - agreed to pay £1 per month

Santander overdraft £1,238 - on hold

Barclays credit card £2,200 - on hold

Next shopping account  £293.74 on hold

 

is it conceivable that I'll pay £1 for the rest of my life to these companies ? 

 

What are my options ?

 

Thanks for your help

 

 

 

 

 

 

 

 

 

 

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  • dx100uk changed the title to Lots of debt due to Gambling.

Moved to the debt part of the forum.

 

 

Approx month/dates you took out the various credit ?

 

Purpose of loans  you took out ?

 

Are any of the loans secured against the property in your name ?

 

Approx month/date when you last made any payment ?

 

Have you checked for any CCJ's ?

 

What is showing on your credit record ?   Check it if you have not done so.

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Credit cards were taking out about 12 months prior to the gambling debt to increase my credit rating from my previous IVU so Jan 2018.


Purpose of loans were debt consolidation I think I can’t remember properly but think that’s the case

 

the one old loan secured against my mums house about 8 years ago other new loans were just personal loans
 

I probably only made 1 or 2 payments on the loans and then missed a few payments And then wrote to them about I can pay £1

 

have no CCJ’s

 

Not much on my credit report other than the debt I owe.

 

 

 

 

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looks like more of these might fall into irresponsible lending complaint territory?

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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For me I don’t know how paypal can sanction that much money in one day without being held accountable in anyway as they’re not registered as a bank. I was in a Right state depositing more money I didn’t have Nor did I need as they just kept sanctioning it as I was trying to win it back. 

 

1 hour ago, dx100uk said:

looks like more of these might fall into irresponsible lending complaint territory?

 

 

Is that something I can find on here ? Thanks

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forget the PP debt, if PP credit is not involved, there is nothing anyone can do to you.

 

as for the others..

 

this not only applies to PDL's but any credit if you file was shot with defaults etc at time of lending

 

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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