Individuals who have struggled with a gambling addiction are likely to be dealing with a range of financial problems, including credit card debt, debt to casinos, debt to family members and/or friends from whom they borrowed money, past-due state and federal taxes, and even debt to illegal sources such as loan sharks. The following list features 10 symptoms that are typical of someone with a gambling addiction: Money problems – the person may make demands for cash, find themselves unable to pay bills or take out additional loans in order to fund their habit of spending more money than they can afford. If someone close to you has a gambling problem, it can put a huge stress on you and your household finances. Try to encourage them to get help to deal with their debts and gambling. If you’re struggling to deal with someone else’s gambling and debt problems, get specialist advice. First things first DO NOT try and gamble your way out of debt and DO seek advice on your gambling problem. I was in a similar financial positon earnings/debt 4 years ago and as of september last year i am debt free. Post an SOA so that the helpful people here can trim back your spending to free up as much cash as possible to put towards your debts.

1. How To Find Out If Someone Has Gambling Debt Consolidation
2. How To Find Out If Someone Has Gambling Debt Owed

In this week of March Madness, we are addressing a common issue related to sports… gambling debt! Many of us travel to Las Vegas and bet on sports or play games in Native American casinos here in California. Here in the Inland Empire, places like San Manuel Indian Bingo and Casino, Pala Casino Resort and Spa, Morongo Casino, Resort and Spa, and Pechanga Resort and Casino are all very popular places to visit, relax, have fun, and, unfortunately, rack up gambling debt. Whether you lose money, owe money directly to the casinos from credit lines, or if you used credit to play in the casinos, you should be able to discharge the debt with a bankruptcy filing (keep reading if you want to know when the gambling debt is not able to be discharged). Gambling debt is considered one of the unsecured debts which can be discharged in a Chapter 7 bankruptcy filing. This means that if you qualify for Chapter 7 bankruptcy, you can have the gambling debt totally cleared. But this does not mean that you should go ahead and use all of your credit to gamble as much as you can and then just file for Chapter 7 bankruptcy after you’ve lost all your credit lines. The reason is explained below.

It is not legal to pre-meditate a bankruptcy. You should not plan to file for bankruptcy as a strategy to get out of debt after gambling because this is not allowed. A bankruptcy court and bankruptcy trustee can deem your debt non-dischargeable or unable to be discharged if you have signs of pre-meditating a bankruptcy. You may think that this is difficult to prove, but, actually, all that the bankruptcy trustee needs to do is examine your most recent spending in the past 90 days to see if there was any spending that looks like it was planned spending with a bankruptcy filing planned ahead of time. For example, if you bought a new TV last month and also racked up a $10,000 gambling debt, and are hoping to file bankruptcy today, it would be fairly obvious to the bankruptcy court that you had a bankruptcy planned all along because the debt was incurred so close to when you filed. These recent debts may be deemed unable to be discharged.

Remember, bankruptcy trustees are just people like you. Your file will be examined by a normal person who can spot these types of spending patterns and will not let you get away with planned spending for a pre-meditated bankruptcy. Otherwise, if you have genuine gambling debt and you are unable to pay it in the time allotted for you to repay the debt, a bankruptcy should be able to discharge the debt.

Someone out there is probably also thinking that once the bankruptcy is filed or discharged, you might want to go ahead and start gambling again immediately after the debt is discharged. You really shouldn’t put yourself in this difficult situation because you won’t be able to file a Chapter 7 bankruptcy again for 8 years. Now you are stuck with the debt until you can file again 8 years from now. After a bankruptcy, your main focus should be on building up your savings and improving your credit scores. Going right back to gambling after a bankruptcy can be even more risky because you don’t have the opportunity to file another bankruptcy to clear the debt. You will most likely face a lawsuit and collections activities.

If you are riddled with gambling debt or any other type of debt, contact Bankruptcy Law Professionals at 855 257-7671 to schedule a free consultation.

How To Find Out If Someone Has Gambling Debt Consolidation

How To Find Out If Someone Has Gambling Debt Owed

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