Hello all. Just need a bit of advice really. I am a compulsive gambler which is the reason we are basically in such a mess. During the IVA (3 1/2) I have battled the addiction mainly with success. However, last year I lasped & required a two month payment break. Earlier this year I had problems again & missed a payment. To cut a long story short I have failed again, and will miss another payment this month. To compound matters I have foolishly taken on two payday loans that I cannot afford aswell. Due to all of the above I am afraid the IVA will fail due to the loans & missed payments. My IP is not aware as yet.
I cannot sleep due to the worry etc. I have rejoined GA to see if that can help but I am not religous and a lot of there philopsy is around GOD etc. Should I come clean and hope for the best. Who knows? I will beat the gambling one day and be free of this once & for all.
I believe but getting into further debt while in an IVA is an automatic breach and the next step would be termination and then bankruptcy unless there is anyone here who knows better. if you don't mind me asking, what made you do it? how far are you into your IVA?
An addiction of any sort is very hard to beat. Please please don't take any more payday loans and try GA with a positive attitude. You will need to tell your IP as your IVA will be at risk but how much I don't know. Maybe one of our experts will be able to give you some guidance but do have a chat. Come to the forum if you feel like gambling we'll try to help.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hello thanks for taking time to reply. I cannot explain why I do it. Gambling is disease & I hate it. I have tried every so called cure including hypnosis. In my mind I thought I may be able to clear the payday loans before any damage was done. However, this has not been the case & I now realise I am probably in trouble.
you've acknowledged you're in trouble, that's the first step. The payday loans will need dealing with but I don't know too much about them. Talk to your IP and hopefully find a way forward.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I'm not expert Mark and wish I knew what to advise, but apart from speaking with your IP, I'm lost. I know what addiction can do to a person not gambling but nevertheless an addiction and it takes a lot to beat believe me x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Taking out additional credit is a breach of your IVA so technically your arrangement could be failed due to this. Having said that if you speak with your IP and explain the situation, agree a repayment plan with the payday lenders at a level that allows you to maintain some form of contributions to your creditors then a variation may be possible.
What is really important is speaking with the payday lenders, explaining that you are in difficulties repaying and asking if they will freeze the interest and agree a repayment amount. Otherwise the payday loans could snowball into an unmanageable amount.
I do hope you manage to get this situation sorted. Remember its not in you creditors interest to let the IVA fail and they are usually understanding.
Looks as though I will have to take it through official channels. ie a creditors meeting etc. Not sure how that will end up but looks like there is no choice. My IP has been great up to now but suspect that wont be the case anymore.
Mark ...you are seeking support that is the main thing. Try your hardest not to take further payday loans and continue with GA.
Your IP needs to know ad you need to have a real open conversation with them, with a few solutions to put into the solving pot ....hopefully if t all stops now and you work with your IP it can resolved and rectified ...you have come so far..so please don't give up hope now x
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Mark, I can't offer you any more advice than has been given above but will repeat what Lesley says. If you feel the urge to gamble come onto the forum there is always someone around night and day. Good luck to you.
It is so hard to explain if your not a gambler. For 95% of the time the urge is not there. It is as if a demon has taken over you. I tried my doctors but they were of no use. The one thing thats consoles me a little is that I have never stolen to feed the habit. From listening at GA I am probably one of the very few.
Try to keep calm and focused on what you are going to say to your IP, write down some points before you phone and tell him/her honestly what you've done not forgetting to say that you have been proactive and have gone back to GA. Keep on going (God not withstanding!) it will help. When you feel the "demon" look in a mirror and tell yourself that you know it's a fool's game and you will never come out on top. Don't be hard on yourself your not alone and most of us on this forum have had to battle with something. But please phone your IP before it really runs out of control.
