Debt Articles Gambling What To Do When

What to Do When Your In Debt Because of Gambling

If you’ve found yourself in debt because of gambling the worst thing you can possibly do is run towards a debt relief solution first. Before we begin to worry about getting out of debt the first step is to seek help and assistance for the underlying issue first, the gambling. If you don’t then you’ll wind up like most people, gambling again and racking up even more debt before long.

I know, right about now you are saying that you’ll never gamble again, but unless you seek help for the disease you are suffering from, the odds of you relapsing are very, very high.

The Hurdle

The chasm you need to cross to deal with your gambling is not to enter a debt program first but to be honest with yourself and those around you that you have a problem and require help.

Assistance for gambling problems can take many forms. You might want to find a local counselor that can provide expert assistance or you may want to visit a local and Gamblers Anonymous meeting. You can find one here. You can also visit the National Council on Problem Gambling for additional resources and a hotline you can call.

Once You Cross the Hurdle

Once you’re in treatment for your gambling behavior then we can worry about which approach to resolve your debt is most appropriate for you in your situation. Do not enroll in any debt relief program until you have sought help for the underlying gambling addiction or issue first. I want to see you succeed, not fail.


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About the author

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.

7 Comments

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  • Courtney,

    There is help for debt as the result of gambling but you need to address the gambling first. Otherwise, as most people do, you will find yourself back in gambling debt no matter how hard to pray to avoid it.

    Steve

    • I sought help with my credit card debt from online gambling I didn’t gamble for 5 years until last month and I broke how can I get out of trouble again

      • I’d start first with dealing with the gambling underlying issue. The debt is not the problem but it is the symptom of the underlying issue. It’s great you had five years sober but once you can get gambling clean again, then we can deal with the debt.

  • I am a stay at home mom of 4 little boys, a 10 yr. old, 5 yr. old twins, and a 1 yr. old. I have about $20,000 in credit card debt. I am ashamed to say that I have accumulated this debt from gambling. I want to rid myself of the guilt from having done this while my husband works unbelievably hard so I can stay at home with our children.

    I need help! I was actually signing the paperwork for Trinity Financial Mission and about to fax it in, when I thought I would do a little web search, and thus found your website. I will take any and all advice you can give. Would a non-profit debt consolidation company be best for me? And if so, does a non-profit anything even exist? Thank you for your time!

    Courtney

  • I am a stay at home mom of 4 little boys, a 10 yr. old, 5 yr. old twins, and a 1 yr. old. I have about $20,000 in credit card debt. I am ashamed to say that I have accumulated this debt from gambling. I want to rid myself of the guilt from having done this while my husband works unbelievably hard so I can stay at home with our children.

    I need help! I was actually signing the paperwork for Trinity Financial Mission and about to fax it in, when I thought I would do a little web search, and thus found your website. I will take any and all advice you can give. Would a non-profit debt consolidation company be best for me? And if so, does a non-profit anything even exist? Thank you for your time!

    Courtney

    • Courtney,

      There is help for debt as the result of gambling but you need to address the gambling first. Otherwise, as most people do, you will find yourself back in gambling debt no matter how hard to pray to avoid it.

      Steve

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