My Debt Free Diary

A question about : My Debt Free Diary

Hey Guys,

I'm 19 years old and have been a fairly addicted gambler. Gambling most of my wages and then taking out payday loans to actually survive for the month. I'm behind on my phone bill and owe Ј120 as it's been suspended.

My mum found out last week and has sat me down to go through what i was spending, how much i get in etc.

She's bailing me out of this payday loan I defaulted on Ј170 and she's taking over my bank to hand me over money when i need it.

I also owe my sister Ј600 as she bailed me out of my overdraft 6 months back.

Here's my debts
Argos Card: Ј204.56
Payday Loan: Ј170
EE Bill: 121.56 - Now Ј60.52
Ebay Debt: Ј56.53
Vodafone Debt Collection: Ј280 - Now Ј170
Sister: Ј640

My mum is bailing me out of the payday loan and argos card so I will owe her the full amounts she pays. She would rather me owe her money than these money grabbing companies (her words)

I will be updating this thread daily (hopefully) I would appreciate all support and all your opinions and ideas to help me cope with this.

I'm going to be starting Gamblers Anonymous as of next tuesday so hopefully this will help me stay away.

Best answers:

• I'm a newbie too so not confident to give too much advice but firstly well done on admitting that you have a problem with gambling, some people can spend years in denial so to actually recognise that you have an issue and talking to your mum is a) a massive first step and b) very brave, well done (and I mean that genuinely, I'm not being patronising). Behave you considered getting help for the addiction, I'm sure others will be able to recommend some good sources of help.
  Secondly, consider filling in a SoA, a statement of affairs which lists all your i comings and outgoings so you can see where your priorities are, how much you have to work with etc, it can be really useful to see it all written down. Talk to your sister too and maybe arrange a monthly sum to pay her back?
  Take heart you are not the first and won't be the last and whilst it seems massive and horrible at the moment, taking steps to address the issues will help you sleep better at night, you are young, it will get sorted out.
• Had a very emotional week so far, admitted everything to my mum and she has been angry and upset but said she will support me.
  Currently contacted the Loan Company and asked how much it would be to pay the debt of in full (awaiting response)
  Clearing EE bill later today (phone will be reconnected)
  Vodafone will be paid off by late April (touchwood)
  I will be coming to an arrangement with my mum and sister on how much I am paying them back per month.
  Feeling good about admitting it and getting it all sorted but also been very upset and emotional after reflecting on my idiotic mistakes.