Dealing with gambling debt

Many compulsive gamblers find themselves struggling with unsupportable levels of gambling debt. Compulsive gambling can also exacerbate debt problems and, in turn, gambling debt problems can drive addicts back to online casinos or bookmakers.

Compulsive gamblers often need to tackle their addiction and their debt problems at the same time in order to get a handle on things.

There are a range of Insolvency Solutions that can help people struggling with problem gambling debt.

Speaking to a Debt Advisor can help light a path towards freedom from debt.

Gambling addiction warning signs

There are a number of warning signs that you or a loved one might have a problem with gambling. These include:

• Using an overdraft or credit card to pay for gambling
• Missing payments to debts or important bills because money is spent on gambling
• Gambling to try and win money to pay off debts

Getting help with gambling debt addiction

There are a range of services designed to help people tackle a gambling addiction.

Speak to your GP

This is often the best place to start. Especially if gambling is affecting your physical or mental wellbeing. Your GP can help talk through your options and give you information on local support services.

Get help from a charity

Charities can offer more specialist advice with gambling addictions. GamCare offers anonymous counselling online and over the phone every day.

Join a support group

There are a number of confidential peer-support groups like Gamblers Anonymous and SMART Recovery that foster a sense of community between recovering gambling addicts.

Consider self-exclusion

Many gamblers use self-exclusion to restrict their access to betting environments. Casinos, bookmakers and betting websites have their own self-exclusion schemes. GamStop is an industry-wide self-exclusion scheme that blocks access to many, but not all online gambling sites.

Getting help with debt

There are a range of tools and services to help you get out of debt. These include debt help tools from charities and advice services from citizenship organisations.

If you are struggling with severe levels of debt, then you may need to consult a Licensed Insolvency Practitioner. An Insolvency Practitioner will look at your debt situation and suggest the best course of action for your circumstances.

This may include a Personal Insolvency Service like an Individual Voluntary Arrangement (IVA), which allows you to pay back a portion of your debt over a fixed period.