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Online Gambling Has Me Deep in Debt. – Andy

“Dear Steve,

I’ve racked up a ton of debt – mostly all from online gambling.
Over the past 2 years, I’ve opened up
$2,000 credit card with bank – currently maxed out
$3,500 credit card w/ credit union 1 – maxed
$3,700 loan w/ credit union 2 – balance currently $2200.
$3,000 credit card with paypal – $2,500 current balance
$9,800 loan with credit union 3 – $9200 current balance
$500 credit card with bank 2 – maxed
$500 credit card with capital 1 – maxed
$300 credit card with paypal – maxed
$1,000 payday loan – outstanding
$1,500 payday loan – outstanding

That’s $23,000 in debt, and with a $35,000 yearly salary minus taxes + rent + gas + food, there’s not even enough to pay the minimum!

Andy”

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The Answer

Dear Andy,

Before we even begin to tackle the debt we need to first get the gambling addiction / urges under control and get help for that. Otherwise I can almost guarantee you will deal with the debt and go right back to gambling and back into debt again. That will leave you in a worse spot.

Contact Gamblers Anonymous, and find a local meeting to go to, TODAY!

Once you seek treatment and begin to deal with the underlying issue, then come back and we can begin to deal with the debt.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Online Gambling Has Me Deep in Debt.   Andy
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If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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