I have been unemployed for two years and during that time have foolishly attempted to gamble to try to make ends meet.
The bank (Barclays) have let me use credit to gamble with, my own fault for doing it i know, until i've exhausted all available credit on loans, credit cards, overdraft and advance accounts and even on my offset mortgage account! The debt is around £90,000 which includes my mortgage. I owe no other companies and seem to have been a pathetic addict, i see it now it's too late, and seem now to have no way out. I've rang and visited my branch and they say there's nothing they can do and the debts will just rack up interest until bankruptcy. My credit rating is, obviously, a complete mess. Whilst i know i've been a complete idiot i've been wondering why the bank continued to authorise these gambling transactions as they were clearly visible on my account and there were no other incomings and i didn't even receive any corresspondance from them while i was running up these debts on credit on gambling transactions.
I have a wife and three children and can't believe what a fool i've been to put all their futures in jeapordy due to my addiction but, and i know it seems like i'm trying to deflect blame, i feel the bank should have stepped in considering i was purely using credit to finance my addiction. Why did they let me continue to an all too obvious conclusion and just ignore me now i'm looking to sort out the complete mess i've made?

Did none of tha banks mention an IVA? some of the creditors may accept some payment now rather than no payment at all if your declared bankrupt..


have a read here..
IVA – Pay a small Portion of your Debt | Debt Problems Advice

That is a very tragic story. However, I'm concerned that in asking why the bank didn't help you, you are deflecting some of the blame. Even worse than your huge debt is the fact that you have proven to be a compulsive gambler. I think you need to address that problem first and foremost, because anything financial assistance you receive may well end up being burned by further gambling. It sounds a bit like someone who has only stopped because you've run out of money.

I'm not trying to be rude, I've seen what gambling can do and I'm giving my honest impression. Thank goodness you still have your wife and children. There are many who have lost far more than their home. Please seek help and best of luck to you in the future.

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I agree with Allie. Be positive and think of it as one of your trials and that there's always a reason behind. Be thankful and always keep your faith.

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Try the IVA route if you can. It maybe one of your best options. Good luck.

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the best thing you could do is to go to a debt company where they can help assess what the best thing for you to do. They will either suggest a repayment program, consolidate your debt or an IVA plan depending on what is best for you. Go and speak to them....you have nothing to lose.

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