My story, bankruptcy? Help and advice

Hello everyone


I'm 27 years old and this is my story of how I got into debt. I read every post I could find about people stories similar to mine and I was hoping some of you who been there and done that can give me some advice on what course of action I can take .


Well like I said I'm 27 years old. I make 55k a year . And now I'm 120 k in debt. 


30 k business credit cards from trying to keep a pizza shop open before I closed it.


50k of it is a personal loan used to buy another business and the deal went south and I got scammed . And lawyers I talked to said I won't win judgement based of contract I signed. So they said I will most likely be responsible for it if I took him to court.


After the business failed I sold my house and made 45 k well I used it to pay my bills for awhile but then Vegas happened and I always been a gambler and I honestly don't know why I did it or really remember it but I lost 60k in one weekend in Vegas . This sent me on a downward spiral for being a complete idiot and ruining my life. I can't tell anyone about it because how much I am ashamed. I have track record of gambling 500 -5 k for years but never that much.


After I lost all my money I couldn't stop thinking about gambling and how I needed cash to win back my money and pay my debt. Wrong wrong wrong I know.


I sold a piece of land to my aunt for 40k which it appraised for. I told her I needed money to help business . I lied to her it was to gamble. 


I maxed out all cash advances and got a personal loan and went ..back... To ... Vegas .. :((( .. it didn't feel real . I was like a ghost and I had no control of actions. Well you know the rest . Lost it allllll. I could.should wish I stopped. My life is in shables. I am still current on bills for now but I'm on short term disability from work and that is about to end and then I will be late from here on out. 


I am struggling with everything right now. Gambling thoughts and dreams. Depression self hatred. 


I haven't gambled since trip to Vegas but that is because I'm broke.


I don't want to but then I again I do real bad. If that makes sense.


So anyone out there , been there and done that . Advice?? Could I file chapter 7 ? I don't have anything of value anymore besides 5k in pizza equipment and 5 k car paid off.  Did I mess up selling my piece of land ? I read on here they can take it back.  Also I read that they can deem that I had no intention of paying debt back and denying me.  And my time frame is real short I did most of all my spending in last 3 months. 


I have to return to work by Oct 1st . If not I will lose my job.  Soooo
That is my story . Hard to put all that Into words. No one knows.


​​​​​​​I'm sorry it was a lot and long 


Hello and thanks for starting a thread in the Gambling Therapy forums


Here at Gambling Therapy we pride ourselves on being a caring and diverse online community who can help and support you with the difficulties you’re currently facing. We understand that this might be a tough time for you, particularly if you’re new to recovery, so come here as often as you need to and participate in the forums, access online groups and connect to the live advice helpline if you need one to one support. We’re in this together!


Here on the forum you can share your experiences in a safe, supportive and accepting environment. The beauty of writing it all down is that you can take your time and you will be creating a record of your progress that you can look back on if it ever feels like you’re not moving forward. So, share as much or as little as you like but do try to stick to keeping just one thread in this forum so people know where to find you if they want to be updated on your progress or share something with you.


As well as the forums New Members are invited to join Charles in the New Members Practical Advice Group On Mondays at 21:00 (UK) and Thursday at 19:00(UK)


And on that note....


I’m going to hand you over to our community because I’m sure they will have some words of wisdom for you :-)


Take care


The Gambling Therapy Team



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Hello Hereiam, well done on looking for help.


It may be hard to tell be peole but it would help you if you could be honest with someone, they can help you put the things in place that will help you.


There will be solutions to the finances - from repayment plans through to bankruptcy with a lot in between.


What is important is that you address your gambling - otherwise it won't matter what you put in place regarding the money side of things.


Keep posting here, maybe get to a Gamblers Anonymous meeting - one thing for sure is that you will meet others there who have had to sort things out financially in your own area, they could give you local advice.


Keep posting.


I know it sounds and looks bad

But just think you have a great chance to move forward with your life 27 and a good business it will take time to get back on your feet as you well know


I run a business myself and I know if I work hard and don’t look back I will appreciate running it more and in time those times in my life will just become memories


It’s not about what you could of had it’s about what you are going to have

Please feel free to comment


You always have to make a strategy in using your money while gambling as that is too risky so you need to have the right [url=https://nationaldebtlines.co.uk/debt-management-plan/]dmp{/url] as in debt management plan to get used to high and lows of gambling.


I recommend to read or listen The Easy Way to Stop Gambling by

Allen Carr, and when you save money instead of trying to win in a game that 99% of the people lose money, play in a game where 99% make money, buy rental property to live or rent...


I will recommend to read also:


https://www.amazon.com/Turned-into-Million-Estate-Spare/dp/1607966743/re...


I have a serious concern for people who have some issues regarding the debt that they have, if you want any help regarding the issue and how to manage the debt, then I would recommend you to consider the option by looking into debt, https://thestepchange.com/ will certainly help you in understanding the management to help you with the debt.