Online Casino Credit Card Gambling Debts

Sell your assets. You could sell valuable assets and use them to pay off your gambling debt. Furniture, electronics, jewelry, or even your car are all items that could be sold to pay off debt. Get a second job. Working several extra hours each week can help you come up with more money than if you depended solely on your primary source of income. Negotiate a settlement payment. Your creditors may be willing to accept a settlement payment on your gambling debts if you can come up with a percentage of what you owe within a few days. Gambling debt, including debt incurred from casinos or charged on credit cards and loans, can be discharged in bankruptcy. However, the creditor has to prove that you committed fraud. Bankruptcy may be your only option for dealing with a gambling debt. Continue Reading. Steps to Overcome Gambling Addiction Before you think about paying off your gambling debts, treat the root of the problem: Here are some ways to address your gambling addiction first.

Once you get your mind right, then you can get your finances straightened out. Make a choice to quit gambling — A gambling addiction is classified as a substance abuse disorder, so treat it as such and get straightened out. To say that you are going to stop gambling implies that you may start again. Decide yourself that you will quit gambling forever. Cut off gambling fund — Close any credit accounts that could feed your gambling problem. Get rid of credit cards and especially ATM cards. Have your bank require two signatures for a withdrawal, one from you and one from a trusted friend or relative. Compulsive gamblers can get the urge to place a bet at any time. Create a buffer between you and your money. Treat your addiction — There is an 800-number national help line as well as many treatment centers and clinics for people with a gambling addiction. Therapy can help with your problem, and entering a safe environment where you can get some things off your chest will offer relief.

Gambling addictions were added to the Diagnostic and Statistical Manual of Mental Disorders as a substance abuse disorder. That means your health insurance is required to provide some form of coverage for therapy through the Affordable Care Act mandate. Explain to your friends and relatives that you have a problem. They should be understanding and admire that you are getting help. It is hard to go about it alone and much easier when you have loved ones encouraging you. Look for support groups like Gamblers Anonymous. It will be beneficial to get advice from people you can relate to, the ones that have been there and done that. Understand the term winnings — Winnings is how much money you won gambling. How much did you win? You probably know deep down that winnings does not count how much you bet, so know it up front.

Daily fantasy sports are especially good at tricking you into thinking you are winning money, when in fact, you are losing. You can watch our video for this blog post below or continue reading below: There is help for those funding gambling with credit cards. Know What You Owe — Make a list of all that you owe to each creditor with due dates for when payments are expected. Make a Budget — Make an overall budget of how much you bring in each month and fixed expenses. Anything leftover should go toward paying off your gambling debt. The same goes with shopping, eating out and other expenses. Sell Assets — If you have assets that you can live without, now is a good time to sell them and put the money toward dealing with your gambling debt. If you are really ready to deal with your debt, bringing in extra income can help tremendously. Close Credit Cards — This is not something I would normally recommend to my clients who are concerned about their credit score.

Online Casino Credit Card Gambling Debts

Steps to Overcome Gambling Addiction

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To say that you are going to stop gambling implies that you may start again. Decide yourself that you will quit gambling forever. Cut off gambling fund — Close any credit accounts that could feed your gambling problem. Get rid of credit cards and especially ATM cards. Have your bank require two signatures for a withdrawal, one from you and one from a trusted friend or relative. Compulsive gamblers can get the urge to place a bet at any time. Create a buffer between you and your money. Treat your addiction — There is an 800-number national help line as well as many treatment centers and clinics for people with a gambling addiction. Therapy can help with your problem, and entering a safe environment where you can get some things off your chest will offer relief. Gambling addictions were added to the Diagnostic and Statistical Manual of Mental Disorders as a substance abuse disorder.

That means your health insurance is required to provide some form of coverage for therapy through the Affordable Care Act mandate. Explain to your friends and relatives that you have a problem. They should be understanding and admire that you are getting help. It is hard to go about it alone and much easier when you have loved ones encouraging you. Look for support groups like Gamblers Anonymous. It will be beneficial to get advice from people you can relate to, the ones that have been there and done that. Understand the term winnings — Winnings is how much money you won gambling. How much did you win? You probably know deep down that winnings does not count how much you bet, so know it up front. Daily fantasy sports are especially good at tricking you into thinking you are winning money, when in fact, you are losing.

The money lost at the casino could have gone to bills and to provide for a family. Family and friends absorb the fall out that comes when gamblers start searching for ways to cover their habits and their losses. Some of the signs that someone you know might be addicted to gambling include: Constantly talks about gambling opportunities Unable to cut back or stop gambling Willing to take high risks when gambling Takes time off from work to gamble Tries to hide gambling habits from family and friends Asks for loans to cover gambling losses Family and friends are usually the first ones to recognize these signs. You can watch our video for this blog post below or continue reading below: There is help for those funding gambling with credit cards. Know What You Owe — Make a list of all that you owe to each creditor with due dates for when payments are expected. Make a Budget — Make an overall budget of how much you bring in each month and fixed expenses.

Anything leftover should go toward paying off your gambling debt. The same goes with shopping, eating out and other expenses. Sell Assets — If you have assets that you can live without, now is a good time to sell them and put the money toward dealing with your gambling debt. If you are really ready to deal with your debt, bringing in extra income can help tremendously. Close Credit Cards — This is not something I would normally recommend to my clients who are concerned about their credit score. The first step is to realize that you have a gambling problem. For your sake and the sake of your family and loved ones, take some time to look at your situation and evaluate whether you have a gambling addiction. Normally, closing a credit card doesn't help with your credit score. You can put a freeze on your credit report to make it more difficult to open a new credit card or loan account, as they require a credit check before issuance.

Realizing That More Gambling Is Not a Solution Many gamblers think they can win enough money to pay back their debts, but quite the opposite happens. You only end up creating more gambling debt to repay. Even if you did win enough money to pay off your debt, chances are you would gamble that money away too, thinking if you won once you could win again. Seeking Treatment for Your Gambling Addiction Your health insurance provider may pay for treatment for a gambling addiction. Check with your insurance provider to see what options are available. Your state Consumer Affairs Office may have more information about state programs for a gambling addiction. Paying Off Gambling Debt Once you deal with the addiction, you can focus on repaying the debt:

A credit card is all it takes to get wrapped up in the world of online gambling. Before you know it, you’ve landed in a pile of credit card debt. Don’t be afraid to seek help. 's Top Credit Card Online Gambling Sites Play at the Biggest and Best Credit Card Gambling Sites In the world of online gambling, credit cards are one of the most popular forms of payment, and they are accepted at nearly every online gambling site around. When gambling debt becomes a problem, the debt has often gone beyond money owed to casinos or riverboats. Instead, you may have credit card debt, loan debt, and even home equity debt all associated with gambling problems.
Online Casino Credit Card Gambling Debts

Choose Your Debt Amount

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Gambling and Debt

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Author: Frank Biocca

Linkedin: Frank Biocca

Chair, Department of Informatics, Ying Wu College of Computing at New Jersey Institute of Technology.