{"id":51,"date":"2020-02-26T15:00:49","date_gmt":"2020-02-26T15:00:49","guid":{"rendered":"https:\/\/becomedebtfree.co.uk\/index.php\/types-of-debt\/gambling-debt\/"},"modified":"2022-10-07T14:04:28","modified_gmt":"2022-10-07T14:04:28","slug":"gambling-debt","status":"publish","type":"page","link":"https:\/\/becomedebtfree.co.uk\/types-of-debt\/gambling-debt\/","title":{"rendered":"Gambling Debt"},"content":{"rendered":"\n\n\t

Gambling Debt Help & Advice<\/h1>\nGambling debt is common within the UK with 20.9% of gamblers admitting that they have lost ‘hundreds’ through gambling. Falling into debt because of gambling might not as hard as it seems and most gamblers do not even realize the debt they are getting into. Gambling has now become part of everyday life, especially when it comes to sports.\nNegative effects of gambling in your life:\nGambling affects both your financial situation and your personal life and relationships:\n

Finances<\/h3>\nIt is a widespread phenomenon that those who struggle with compulsive gambling are likely to experience financial trouble. Bills left unpaid and cutting on important expenses is very common among people who gamble.\nIn many cases, gambling leads to excessive debt as individuals tend to fund their betting with overdrafts, credit cards, or payday loans. To make things worse, many of them are tempted to gamble more to pay off these debts, creating a vicious cycle that may leave you with worse money struggles than before.\n

Mental Health<\/h3>\nAccording to research gambling combined with debt can lead to serious mental health issues. Anxiety, low self-esteem, depression, and even insomnia are some of the effects gambling has on its practitioners. Gambling= is a serious addiction and as such, it can cause people to lose interest in things they previously enjoyed. Eventually, this will lead to more time spent gambling and more money lost.\n

Personal Relationships<\/h3>\nPartners and sometimes whole families tend to argue over gambling and the financial problems it can cause. Usually, people who gamble tend to spend more time gambling than with their beloved ones.\nGambling and excessive debt can create serious trouble in someone’s work and career. Anxiety, loss of concentration, irritability and other symptoms will bring someone’s job position at risk. Gamblers tend to spend more and more time with betting and eventually lose interest in work.\nWhat are the warning signs of problem gambling?\nHere are some key points that might indicate a problem with gambling in an individual:\nRegularly spending more than planned on gambling or spending money on gambling instead of important bills.\nUsing gambling as a distraction from other things going on in their life\nHaving feelings of guilt or shame about your gambling habits\nUsing things such as an overdraft, credit card, or payday loan to fund your gambling\nTrying to pay off debts through gambling\nHow to manage a gambling problem\nHere are some steps someone can take to overcome their gambling problem or help a family member with it.\nSmall changes – It is important to change patterns of behavior that trigger the need to gamble. For example, avoiding specific places might help you reduce the risk of gambling.\nPractice exclusion – Some betting shops or even betting websites refuse from time to time to serve their customers to prevent them from gambling.\nSharing your problem – talking to a friend or a family member might help you see things in perspective and try to solve your problem.\nSpeak to an Expert – there are free helplines that can help you while many companies provide counseling to help you get gamble free.\nGet Help to clear your Gambling Debts – It is probably the hardest but most important thing to pay off your debts. You may be able to do this by entering into a debt solution however, you will need to prove that you are resolving your gambling problem before entering into any of these agreements.\nIf you need advice on how to solve the debt problems you can contact us today and get in touch with one of our advisors who will help you go through possible solutions.\n\t\t\t\t\"Individual\n\t

Do you Qualify for a Debt Write Off?<\/strong><\/h3>\n
\n\n\n\n\n\n\n