GamCare Logo

Error message

Notice: Undefined property: stdClass::$field_banner_image in gamcare_preprocess_page() (line 61 of /data/websites-live/www.gamcare.org.uk/public/sites/all/themes/gamcare/template.php).
Login / Register

Payday loand and Gambling the 'natural born killer duo'

23 posts / 0 new
Last post
Posted by
Messages
#1 Posted on:
Thu, 07/09/2017 - 21:41

Xenedra

Joined:
2017-08-16

Hi all, 

I have personal experience of this tangled mess, many evenings spent with a online casino tab open and about 10 payday loan companies also open...as soon as depositied it was gone. Would love to hear people's thoughts on this...I have linked a good article below. 

Thank you all for your continued support. 

https://debtcamel.co.uk/gambling-payday-loan-refunds/

 

Posted on:
Fri, 08/09/2017 - 16:07

Smashed

Joined:
2017-08-13

There all vultures, payday loan comanies, online casinos, bookmakers. When you stop gambling you look at these companies and see the massive massive profits they make. ********************** for example made £285 million pounds profit last year, that is a lot of money. Were just the mice running around and they are just leading us like the pied piper, I'm angry with myself that I followed too.

Posted on:
Fri, 08/09/2017 - 16:09

Smashed

Joined:
2017-08-13

Why is that blurred out. ******* is it a swear word on these forums. :-(

Posted on:
Fri, 08/09/2017 - 17:07

Forum admin

Joined:
2010-11-01

Hi Smashed,

Just to clarify, any company name that is mentioned in the Forum is asterixed as it can be seen as promoting them. I hope that makes sense. 

Best wishes,

Forum Admin

Posted on:
Sat, 09/09/2017 - 09:43

Xenedra

Joined:
2017-08-16

Even though I am fully aware I was making decisions, there should be some responsibility from these companies! Makes me sick to think of not only the money I lost gambling but the money I will loose paying back all the interest on these loans!

Posted on:
Sat, 09/09/2017 - 13:34

Lethe

Joined:
2016-12-10

There isn't any responsibility from those lenders supposedly further up the scale. Can't expect it from bottom feeders.

Mr L has notices of correction posted with each agency stating that he does not wish to be offered or extended any credit facilities even if he applies for them and/or appears to qualify. Might be worth considering?

Posted on:
Sat, 09/09/2017 - 15:41

Xenedra

Joined:
2017-08-16

I have one on my record currently which helps now, but as I am in recovery I am never going near anything like payday loans again! £6,000 in debt to them has caused me to learn a harsh lesson total gambling debt is £20,000 :( 

Posted on:
Sat, 09/09/2017 - 18:12

Joydivider

Joined:
2015-03-11

Yes its a lethal combination of borrowing to ride the losses until it can be sustained no more with massive interest charges on top. The credit industry has also been deregulated to a large extent and its been going on for decades perhaps since the 1970s

If credit gets too easy it leads to misery but we have to remember that we are paying them to borrow money. They are not doing it out of the kindness of their hearts but there is a tendency for the advertisng to be along the lines of we are real friends to you and your family. Its not that different to gambling adverising

I focus on this Mr Micawber saying

 Mr Micawber's famous, and oft-quoted, recipe for happiness: "Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

There speaks the truth and depths about a Human relationship with money.

I now have a very low credit limit which is backed up by money held by someone else.  If I cant afford it I dont have it. The card is to ease ebbs and flows mainly with bills.  I fear borrowing in a healthy way now and feel I should need to fully explain what the money is being used for to better my life...... like tools for work.

Best wishes to everyone on the forum

Posted on:
Sat, 09/09/2017 - 19:49

Phil72

Joined:
2016-10-07

Being in debt through gambling or for any other reason is super-stressful whatever amount and from whatever company and yes I totally understand the approach and deviouseness of some lenders as I've been there and bought the t-shirt many times but ultimately I have to repay the money I borrowed to gamble.

I remember "door step" lenders coming to my house after I HAD called them and feeling I had £ signs in my eyes as I signed the agreement and got handed another wad of cash.

Letters, phone calls, texts, e-mails and knocks on my door - the latter was especially embarrasing if my wife was at home because although she suspected she didn't really know - have all stopped because I set up the Debt Management Plan through StepChange.

I have three and a half (not sure about the half!) monthly payments to make and the debts I accumulated will be cleared. Will I gamble again when my debts are cleared - no idea because my approach to recovery is one day at a time but I genuinely believe if you did get into debt because of gambling or anything else there ARE ways to sort it out and have some peace of mind.

Best wishes, Phil.

.

Posted on:
Sat, 09/09/2017 - 20:44

Lethe

Joined:
2016-12-10

Would second the idea of a DMP.

Mr L arranged his through Payplan and it was a huge relief to know no-one was going to come knocking. Didn't stop the defaults but they too had a positive side in that his credit rating fell through the floor making it very much harder for him to get his hands on the kind of amounts he was chucking at the gambling industry like confetti.

Joydivider - agree with not having anything we can't pay for outright. I don't have any credit arrangements and intend to keep it that way. As far as I'm concerned, if we can't afford it we don't have it.

Posted on:
Sat, 09/09/2017 - 22:05

Xenedra

Joined:
2017-08-16

 

Thanks all for your insight. 

I have a DMP currently with StepChange, it's new to me (only made one payment) and tbh it's crazy having online access to ALL debtors as I never see them all together. It is also satisfying as I feel in control more now and with each monthly payment I will be able to see progress. 

When I think back to those evenings...how low I was...borrowing from payday lender, then gambling into the early hours and going to bed full of guilt, regret and feeling like filth. 

As I have mentioned before on another post, pre gambling I was awesome with money! I had a savings account, rarely went into my overdraft, and if I didn't have the cash, I waited. Not now, gambling has changed my attitude to money big time!! I now fear money. 

As part of my recovery I am taking out all the cash I can from my bank account after bills so I can't gamble online (that's my vice) as well as additional blocking software. I use K9 and set up a password that was a long barcode then burnt the barcode! That works!

I relapsed recently using my work computer...tbh the fear of that ever coming out has stopped me thinking of ever doing that again!!

At one time I had 11 payday loans! I mean how is that even right? 

Posted on:
Sun, 10/09/2017 - 00:21

Joydivider

Joined:
2015-03-11

Lethe wrote:

Would second the idea of a DMP.

Mr L arranged his through Payplan and it was a huge relief to know no-one was going to come knocking. Didn't stop the defaults but they too had a positive side in that his credit rating fell through the floor making it very much harder for him to get his hands on the kind of amounts he was chucking at the gambling industry like confetti.

Joydivider - agree with not having anything we can't pay for outright. I don't have any credit arrangements and intend to keep it that way. As far as I'm concerned, if we can't afford it we don't have it.

Yes I know it can sound easy to say in a have it now (and why shouldnt I ?) society but I realised I had a ill relationship with stuff and most of it wasnt making me happy. I was chasing a dream to suit others if you like and I was living well beyond my means.

In the past I have bought expensive things but was very soon bored of them and looking for the next hit or step up.  Its never ending  and maybe thats one of the ways a gambling addiction gets to us. 

I just took a step back and realised that I would have to justify why I wanted material things. I certainly cant think of anything I want so much that I would get into debt for. 

Gambling aside theres nothing worse than debt and a precarious work situation. I tend to buy what I need now rather than what I want. I save up for a treat and have it at Christmas or something.

I just feel more serene like material possesions dont have an unhealthy hold on me.

Best wishes to everyone on the forum 

 

 

Posted on:
Mon, 11/09/2017 - 14:46

mrhonest

Joined:
2017-08-22

Hi all,

Interesting debate and in the early days of my recovery it's probably not something I have the energy or the right frame of my mind to pursue right now.

To be frank though, if any of the companies who have lent me money over the last 4-5 years just asked to see a bank statement the chances are they would have (if they were a responsible lender) rejected my application. My account was empited of any money as soon as it hit my account and gambling would have accounted for 95% of all activity.

Even asking for proof of salary would have scuppered me as my wages go straight into my partners account. I would have been able to provide a wage slip but this clearly shows the account where the money is going is not mine.

Posted on:
Sat, 16/09/2017 - 18:29

Xenedra

Joined:
2017-08-16

I completely agree. 

I have put in complaints with some of the pay day loan companies that allowed me to borrow and borrow (one company allowed me 4 loans at the same time totally nearly £2500) and Iv had some success in that they have admitted negligence and have settled my outstanding balances or greatly reduced them which is very good. 

Such a mess though, a pay day loan was something I feared about 2 years ago and now I have so many myself! 

Quick access to money fuelled my addiction! 

It just wouldn't have been possible to have spurred this addiction without them! So sad. 

Posted on:
Tue, 26/09/2017 - 23:05

HowDidItGetToThis

Joined:
2016-10-18

if hi

Xenedra wrote:

Even though I am fully aware I was making decisions, there should be some responsibility from these companies! Makes me sick to think of not only the money I lost gambling but the money I will loose paying back all the interest on these loans!

Hi I am not sure if you will see this post I really hope you do.......if you have had payday loans in the past and struggled with some to pay back emails the complaint team and ask for a refund explain you coukd not afford them, I have now managed to claw back over £3000 from 6 different companies, you have nothing to lose 

 

Posted on:
Wed, 27/09/2017 - 20:44

adam808

Joined:
2017-08-27

I am 21 and in a DMP (how depressing is that), but I am so glad my credit score has been destoryed because it is SO EASY to get money from payday loans. I mean, I have only recently read up on how bad they used to be...and it was still pretty bad for me even after this big change we've seen.

I have 7 payday loan companies in my debt management plan. And this was from working a part time job at University with no real stable long term income - and I never even lied on the application...I was still approved credit. Madness. I am happy now, because I am paying back every penny I owe, and it'll take me a few years but I'll do it and I will fight this to make sure I can one day be debt free and gamble free.

But I definately think these companies need to accept some responsibility, it's playing on the VERY vulnerable - or else why would you go with such a company..
 

 

Posted on:
Thu, 28/09/2017 - 00:06

Xenedra

Joined:
2017-08-16

HowDidItGetToThis wrote:

if hi

Xenedra wrote:

Even though I am fully aware I was making decisions, there should be some responsibility from these companies! Makes me sick to think of not only the money I lost gambling but the money I will loose paying back all the interest on these loans!

Hi I am not sure if you will see this post I really hope you do.......if you have had payday loans in the past and struggled with some to pay back emails the complaint team and ask for a refund explain you coukd not afford them, I have now managed to claw back over £3000 from 6 different companies, you have nothing to lose 

 

Thank you for commenting I will be sure to try this.

Posted on:
Fri, 29/09/2017 - 08:35

Merry go round

Joined:
2017-06-08

Thsi is what the gambling commission sent me in an email 'if you have any examples of specific circumstances regarding consumers taking out pay day loans whilst gambling, we may be able to look in to it further. In order to consider investigation we would need evidence. This would consist of things like gambling transaction records and bank statements that show the pay day loans going in to an individual’s account and then going out to the operator.'

Posted on:
Fri, 20/10/2017 - 12:52

guest account

Joined:
2017-03-20

I've had some success with obtaining a refund for unaffordable lending from one payday lender recently. I would say it's certainly worth sending one of the many complaint email templates you can find on the internet if you've had many loans within the last 6 years that you regularly rolled over or they were a large proportion of your income.

That was all I had to do and although the process takes a while, 8 weeks for a final response and then up to 4 weeks for the settlement to reach you approx. I didn't actually have to send any evidence, just my acknowledgement of the final settlement figure and my bank details.

I've now written to the others and hoping it will help clear some debt.

Posted on:
Fri, 20/10/2017 - 12:53

guest account

Joined:
2017-03-20

Also, just to add, I didn't mention anything to do with the fact I had been using the money to gamble as I wasn't asked for any information, or bank statements.

Posted on:
Fri, 17/11/2017 - 07:30

Doomed66

Joined:
2017-11-17

I am literally up to my eyeballs in payday loan debts...I work hard but I am so very lonely.Thats where my gambling stems from I am lonely,I get drunk I gamble all my money then I have to find the bill money from somewhere I hate myself so much.

Posted on:
Fri, 17/11/2017 - 11:03

Merry go round

Joined:
2017-06-08

Hi doomed why don't you post in new members section , get some feedback and support. Call gamcare for advice on stopping. Secondly go on debt camel website for debt info. Stepchange are also helpful. You could also go to a GA meeting. Good luck!

Posted on:
Sat, 18/11/2017 - 09:24

Forum admin

Joined:
2010-11-01

Hi Doomed66

Thank you for posting and sharing how you're feeling.

Please give us a call and speak to one of our advisers on the freephone helpline 0808 8020 133 for some support advice and guidance. 

I understand how lonliness is affecting you and impacting your gambling so perhaps you could consider some free counselling to help you deal with the effects of your lonliness.   http://www.gamcare.org.uk/support-and-counselling/free-counselling

You can also contact a debt agency to help you sort out any outstanding debts you have at the moment.

StepChange Debt Charity provides debt counselling. If you are thinking about taking on a debt management plan (DMP), StepChange Debt Charity provide realistic advice and a DMP with no fees attached. Visit StepChange Debt Remedy - their anonymous, online debt advice service: www.stepchange.org

Hope this helps and we look forward to hearing from you soon.

Kind regards

Cade

Forum admin