Dealing With Gambling Debt

Seek Help for the Gambling Addiction

Before you begin dealing with debt, it is imperative you get help for your addiction. It’s been proven in many cases that gambling addicts are less willing to admit their problems than someone with a substance abuse problem. Not only should you get help for yourself, but for the ones who love you; your family and your friends. Take the time to really evaluate your situation, and how it has affected you, your family and the general quality of living surrounding it all.

Cut Off Funding

It could be half to all of your paycheque, a credit card, or maybe you’ve been dipping into your savings. In either case, put a complete halt on any money put towards gambling. Cancelling a credit card is never a good idea, as it worsens your credit situation and lowers your credit score. But in the grand scheme of things, putting a stop to it now rather than racking up another large amount of money is probably for the best.

You Won’t Win Back what you Owe

Statistically speaking, the chances of you winning back what you owe are next to impossible. In fact, you’re only damaging yourself even more by putting yourself further in debt, and deluding yourself into believing something along the lines of “well I’ll win back what I owe, and then some for good measure!”

Seek Treatment

If you find doing your best and trying your hardest toward helping yourself isn’t working at all, you may need to seek a professional. In some cases, your health insurance provider may cover some or all of the treatment necessary to cure the addiction.