Dealing with debt
Gambling and Debt
Dept can be one of the consequences of problem gambling. Chasing losses, borrowing and hoping the the next big win will provide the solution, can be part of a repetitive cycle that in many cases leeds to severe debt or even to bankruptcy. Worrying about money, concealing debts and hiding the extent of gambling can increase stress and cause disruption in personal and even professional relationships.
When faced with excessive debts the most important thing to do is not to panic, there is a great deal of help and advise available for anybody in this situation. It is important to stop and take an objective look at your overall financial situation. Remember: there will be a way out.
The following points could help you tackle your debt and control your gambling:
- As a first step, see if you can control your gambling in the short term while you are addressing your debt problems
- Talk to our NetLine and HelpLine advisers for strategies to help you control your gambling
- Share your problems with someone whom you trust and who could support you
- Ask someone you trust to look after your bank cards for a period of time
- If necessary destroy your credit cards
- If necessary, seek professional advice to help you deal with your debt and help you to organise your money better