Get Out Of Gambling Debt & Casino Markers

The top reasons for filing for bankruptcy are insurmountable medical bills and student loan debt. However, bankruptcy can be used to discharge, reduce, or otherwise manage all forms of debt, including gambling debt. Oftentimes, these debts are borrowed from credit cards at high interest rate cash advance, or through the casino using a marker. People who have a gambling addiction can find themselves with nothing in their bank accounts.

Gambling Another big reason which throws Americans into debt is the toxicity of gambling. Some people get so addicted to gambling that they mortgage their properties and ask for loans to pay off the money they owe or worse, to play games with even higher stakes. If you’ve found yourself in debt because of gambling the worst thing you can possibly do is run towards a debt relief solution first. Before we begin to worry about getting out of debt the first step is to seek help and assistance for the underlying issue first, the gambling.

If casino markers are used by a gambler, massive amounts of money might actually be owed directly to a specific casino; a casino marker is essentially a special line of credit established between a casino and an individual gambler. A gambler can lose it all in one stroke of bad luck. No matter the reasons behind gambling-related debt, it is important not to feel embarrassed and explore the ways bankruptcy can help.

Seeking Counseling Can Help Your Filing

• Posted on August 22, 2016 by Florida Council on Compulsive Gambling under Uncategorized. Debt and Gambling. August 22, 2016. In our last blog post, we spoke about understanding the human side of gambling. Metadata will paint the picture as to the scope of the problem and its place in society.
• Gambling can be so hidden.' Who have attempted suicide and who are in hundreds of thousands of pounds of debt. 'Football doesn't have to be the problem, it can be the solution - as it is for.

Many bankruptcy filings are paired with an agreement that the bankrupt filer will undergo some sort of course about safe spending habits. In cases of gambling debt and bankruptcy, gambler’s rehabilitation programs to curb gambling addiction might serve a similar function. If a gambler takes the initiative and addresses his or her own gambling problem prior to filing for bankruptcy, it could potentially reduce the amount of debt needed to be discharged through bankruptcy.

The actual bankruptcy filing process does not change for if a person files due to gambling debt, regardless of whether it was a casino marker debt, cash advance, or other unsecured transaction. A Chapter 7 bankruptcy filing attempts to discharge all of your debt where possible, but due to the nature of gambling debts, this can be entirely difficult. A Chapter 13 bankruptcy merely reduces your debt and schedules a doable repayment plan over the course of three-to-five years. Chapter 13 is often easier to negotiate with casinos that create IOUs through casino markers.

New York City Debt Lawyers

The Law Office of Simon Goldenberg, PLLC offers legal assistance for clients that need to find debt relief, including those who have fallen into considerable gambling debt. Talk to our New York City debt attorneys about bankruptcy and other alternatives today. Our goal from start to finish is being the team that helps you reach a more comfortable future underlined by financial stability.

Call 888.301.0584 or contact us online for more information.

Let us face facts, Millennials are the face of America these days and including them, most Americans out there are immersed knee-deep in debt. Why do you think that is? We have compiled a list of reasons which will try to explain some of the main reasons why we see so many indebted Americans lately.

If you are one of these unfortunate Americans who find themselves unable to pay off their debts and loans, you should try to hire a debt relieving advisor in person or get their services online from a website such as https://www.facethered.com/

Student Loans

Gambling Debt Facts

College funding has become very expensive as of late and it is difficult for parents and students to pay it all off at once. This is why students take loans as financial aid and all to help them get through college and obtaining a degree. After they have received their degree, they have to work for a long time to pay off their entire loan. This is because they not only have to pay off the loan with their money, they also have to pay their living expenses such as rent and food. Most students are not able to save anything in the process. When these students finally pay off all their loans and emerge into their seemingly debt-free lives, they are hardly left with any savings to their name which will help them maintain themselves in this life. This is why they turn towards taking more debt which can keep accumulating throughout the person’s life.

Gambling

In So Much Debt From Gambling Debt

Another big reason which throws Americans into debt is the toxicity of gambling. Gambling has become an addiction for many Americans who spend long hours of their day in bars, clubs and casinos trying to make a fortune for themselves and losing most of their money in the process. Some people get so addicted to gambling that they mortgage their properties and ask for loans to pay off the money they owe or worse, to play games with even higher stakes.

Unemployment and Minimum Wage

Unemployment is at an all-time high in the USA. Many people who could not put themselves through college or have liberal arts degrees and the likes find it very difficult to find stable jobs. Many of these people therefore work in Fast Food joints and all at minimum wages to make ends meet. In these situations paying off rent, bills and buying food for themselves is pretty much all they can manage and have to eventually turn towards debt to live a normal life

In So Much Debt From Gambling Videos

Divorces

Gambling Debt Loan

Lastly, Divorce is a great reason why people become immersed in debt. This is because roughly 50% of all marriages in the USA end in divorce and people take signing a pre-nuptial agreement very personally. Hence, a divorce usually makes the people involved fall into debt and with the payment of monthly alimony and care for the children involved, the person finds himself borrowing more and more money.