Gambling & Debt
Written by PayPlan on 20 July 2011It is thought that some 68% of the UK population participate in some form of gambling activity over a one year period (survey done by British Gambling Prevalence Survey in 2007). That can be purchasing a lottery ticket, playing poker or placing bets with a bookmaker. For some, gambling may start small, but if it becomes an addiction it can spiral out of control – and people soon find themselves in trouble. We receive many calls each week from people who have found themselves in financial difficulty by gambling – a lot of these people ignored their problem for so long in the hope of finding the winning streak that would enable them to pay off their debts. Many realise their problem, seek help for their addiction and then seek help for their finances.
Can Payplan help me?Payplan can offer advice to anyone in debt. Your level of debt would be a major factor regarding what we can do to help. One of the first things that we would ask of you is: have you stopped gambling? The reason why this is so important is that with any kind of plan you are asked not to obtain any further credit and you are asked to pay all available income into your plan, meaning that you shouldn’t have funds to gamble. The other reason is that we would normally assume you got into your financial situation due to your gambling, and if you carry on gambling then you risk making it somewhat worse than it already is. If you would like to speak to one of our debt specialists about a DMP then please call 0800 280 2816 0800 280 2816. Don’t forget you can find me on Twitter and Facebook
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