Morning all.
It's 2:57am when I'm typing this, and I've just bet my last £10 ever. The bet is still ongoing but no doubt I'll lose (as always in my case) but it's my last bit of money I'm going to gamble. It takes a weight off my shoulders, I've said I'm going to stop before but when I'm bored I've always gone back and chased my losings and then lost again. I've lost thousands over the years and if I think about it, it makes me want to cry because I could have done so much with that money, I probably could have put down a deposit on a house but no, I spent every penny gambling online.
I've lost sleep, nearly lost my relationship, got myself into debt and just became an awful person because of gambling. I need to stop and I have to stop. As i said I've got myself into debt over it, luckily it's not "serious" (by serious I mean bailiffs coming to my door and getting CCJS) I'm just getting letters at the minute. I'm setting up a Debt Management Plan to get my finances back on track and I'm feeling positive about my chances. I'm 24 and I've spent the past few years of my life skint and unhappy because of gambling. It's nice getting a 30 second buzz for a while but when I'm thousands in the hole it's not worth it especially when I know it's not coming back.
I've joined this forum so I can get some help and give myself a better opportunity to quit for good. Does anyone else have any experience with DMP's?
Thank you and any replies are appreciated.
You've come to the right place, like you in still young (25) been gambling for years and been in debt and unhappy and I've lost a deposit for a house in a single day but coming here is a big step, I'm not sure what bought you here but I went to my doctor and he suggested it and people here are so helpful and it's just nice to get it all off your chest. I can't help you with information on DMPs but I wish you the best and congratulations on what's hopefully your first step in getting rid of your addiction.
Hi yes i have just come out the other side of a DMP it took 7 years . Problem was that I was still gambling throughout and did accumulate more debt . It’s all under control but the DMP helps . In fact I was still able to get my dream house and new mortgage 3 years ago whilst in a DMP . It doesn’t mean that your life is over . However , don’t be like me and gamble . It’s a new chance for a clean slate .
Bryan wrote:
Hi yes i have just come out the other side of a DMP it took 7 years . Problem was that I was still gambling throughout and did accumulate more debt . It’s all under control but the DMP helps . In fact I was still able to get my dream house and new mortgage 3 years ago whilst in a DMP . It doesn’t mean that your life is over . However , don’t be like me and gamble . It’s a new chance for a clean slate .
Thats good then that I can still get a mortgage on a DMP but no I'm definitely not going back there, gambling is over for me. I need it to be over!
Onepunchjamoo wrote: You've come to the right place, like you in still young (25) been gambling for years and been in debt and unhappy and I've lost a deposit for a house in a single day but coming here is a big step, I'm not sure what bought you here but I went to my doctor and he suggested it and people here are so helpful and it's just nice to get it all off your chest. I can't help you with information on DMPs but I wish you the best and congratulations on what's hopefully your first step in getting rid of your addiction.
Thank you!
With the DMP it depends on if you have any defaults . The mortgage lender doesn’t take into account any over 3 years old . When they are over 6 years old they come of your account . Each individual circumstance is different . You pay higher interest but you are more of a risk so I get that
Im around 3 years into an IVA which is a variant of an DMP although it is apparently “frowned upon” more as it allows you to write debt off by becoming insolvent for 5 years a dmp just consolidates your debt into one monthly payment which is often quite a high monthly payment which services all your debts
Firstly You have to work out whether you think you’d be able to pay your total debt off in 5 years without writing some of it off if you can great get a dmp and consolidate it all into one payment
If you are a low earner and have debt of 10K + and there is no way your going to pay it off in 5 years then its worth you getting an IVA
It was an easy decision for me I wrote 6K off and turned 11K into 5 and reduced my monthly payment by almost £300
Budgets and lifestyle had to have a big overhaul as no access to credit but to be perfectly honest im in a far better position now than I was 3 years ago
It didn’t take me long to realise It’s the trips to the casino that usually clean me out so they’ve been cut down to twice a year and a strict cash limit imposed by my girlfriend ( previously was in there 5 nights a week )
Have accepted the fact gambling is a big part of my life and I need to try and reduce its impact in my real world life
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