Advice For A Serious Gambling Addict

Push86

Hello,

I have a serious gambling addiction and I’ve lost more than $40,000 and neck deep in debt. I always try to get out of debt by gambling more but I’ve created myself a huge hole and I am having a really hard time. I really want to turn my life around as I am currently 29 years old and I have a lot of days ahead of me. I always try to put a smile on but deep down I am in so much pain and agony and I want to end my life. I currently make around $2700 a month after taxes.

I have the following debts to pay:

Personal Loan 1: $10,000 paying $421.94 a month on 27.99% interest for 36 months
Personal Loan 2: $10,000 paying $372.53 a month on 31.96% interest for 48 months
Personal Loan 3: $10,000 paying $389.50 a month on 28.13% interest for 36 months
Personal Loan 4: $5,000 paying $495.31 a month on 115.64% interest for 84 months

Credit Card 1: $4,700 paying $100 a month
Credit Card 2: $4,800 paying $100 a month
Credit Card 3: $2,200 paying $100 a month
Credit Card 4: $1,100 paying $100 a month
Credit Card 5; $1,021 paying $200 a month

Car Payment: $381 a month

All of my paycheck is currently going towards paying these off and I was wondering if anyone can give me advice on how to stay sane. I am currently working full time on a $42,000 salary. My boss says I might be able to get a raise in 3 months for $10,000 because I am developing skills as a programmer. Is there any way out of this?

Thanks so much.

sourcrates

Hi,
I'm assuming your in the US, so it's a bit difficult to advice on the financial side of things, as UK and US laws differ quite a bit, but you should certainly seek help for your gambling addiction, you need to contact gamblers anonymous, or US equivalent, and get that under control first.

absolutereturn

I know a gambling addict who has come quite a long way in the past three years, he used to post here but I think he's away for the holidays at the moment. I'll send him the link and see if he can take a look. We're in the UK though, I don't even know how people gamble in the States, I don't think online casinos are allowed to operate in the US and as far as I know they don't accept American credit cards. There's no betting shops or places full of slot machines like we have here.

HappyMJ

Push86 wrote: »

Hello,

I have a serious gambling addiction and I’ve lost more than $40,000 and neck deep in debt. I always try to get out of debt by gambling more but I’ve created myself a huge hole and I am having a really hard time. I really want to turn my life around as I am currently 29 years old and I have a lot of days ahead of me. I always try to put a smile on but deep down I am in so much pain and agony and I want to end my life. I currently make around $2700 a month after taxes.

I have the following debts to pay:

Personal Loan 1: $10,000 paying $421.94 a month on 27.99% interest for 36 months
Personal Loan 2: $10,000 paying $372.53 a month on 31.96% interest for 48 months
Personal Loan 3: $10,000 paying $389.50 a month on 28.13% interest for 36 months
Personal Loan 4: $5,000 paying $495.31 a month on 115.64% interest for 84 months

Credit Card 1: $4,700 paying $100 a month
Credit Card 2: $4,800 paying $100 a month
Credit Card 3: $2,200 paying $100 a month
Credit Card 4: $1,100 paying $100 a month
Credit Card 5; $1,021 paying $200 a month

Car Payment: $381 a month

All of my paycheck is currently going towards paying these off and I was wondering if anyone can give me advice on how to stay sane. I am currently working full time on a $42,000 salary. My boss says I might be able to get a raise in 3 months for $10,000 because I am developing skills as a programmer. Is there any way out of this?

Thanks so much.

At those rates you will be paying for the rest of your life.

You can declare bankruptcy and the courts will decide how much you should pay towards your debts. They will only allow you to keep enough to pay the bills. They won't allow you any money to gamble with.

Once you are out of bankruptcy try and avoid taking on any new debt. Debt is used to buy houses to avoid having to pay rent or to buy a car to be able to get to a job to earn money. Debt should never be taken out to be used at a casino.

Dreamnine

Don't go to gambler's anonymous unless you believe in faith healing.

They offer a dubious 12 step program from the 1930s.

atomic7431

Just by you coming on here and admitting that you have a problem is the first step to your recovery so well done ☺

andyfromotley

Dreamnine wrote: »

Don't go to gambler's anonymous unless you believe in faith healing.

They offer a dubious 12 step program from the 1930s.

so 'dubious' that it has helped countless thousands of gamblers alcoholics and drug abusers to recover and lead productive and fulfilling lives.

I'd urge you to try it. If its not for you fine, but i firmly beleive that it offers a route to recovery for those still in the death grip of compulsive gambling.

FireWyrm

115% interest on one of your loans? Was that from some bloke called "Vinnie"? There is no way you are getting out of that hole by yourself. I don't know the rules in America, but I imagine there is some sort of provision for bankruptcy. That is your only chance...oh, and self ban from all gambling sites but I know that it a tall order with the proliferation of online gambling.

newbie1980

andyfromotley wrote: »

so 'dubious' that it has helped countless thousands of gamblers alcoholics and drug abusers to recover and lead productive and fulfilling lives.

I'd urge you to try it. If its not for you fine, but i firmly believe that it offers a route to recovery for those still in the death grip of compulsive gambling.

im part of a GA group and the faith thing is your choice We like to see it as a higher power ie your concience and im gamble free now for 7 years so you can do it also you just need to believe in yourself.

Muhren

Dreamnine wrote: »

Don't go to gambler's anonymous unless you believe in faith healing.

They offer a dubious 12 step program from the 1930s.

Yeah I'm so gutted I found GA and that it helped me to remain off gambling for 3 years.

The steps progam is voluntary and people don't usually start on it until further down the line. I myself haven't touched steps, here there is a seperate meeting for steps.

Telling someone with a gambling problem not to try something that could potentially help them is ridiculous advice.

Muhren

First of all OP you need to stop gambling, you are not going to start to get out of this mess until you do.

My advice would be to cut off all avenues that you have to gambling.

• Self exclude yourself from your betting accounts, be that online or in the shop.
• Put a block on your laptop/tablet to stop access to gambling sites. I use something called K9, you will need someone you trust to make up a password.
• Get rid of your smart phone so you can't gamble on that.
• Hand over your cards and preferably all of your finances for someone to look after if you can.
• Don't carry anymore cash than you need for the day.
• Tell your friends/family about your problem so they can help look out for you.

I can't help with any suggestions with who you can speak to for help, other than GA. Give it a try, it's not for everyone but you will be around people who are in a similar situation who can offer help, advise and support to beat this problem.