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How to clear Gambling Debt

Once a gambling problem is treated, it will be far easier to start paying off what you owe. This can seem daunting, but gambling debt is no different from many other kinds of debt and there are options available to you when it comes to a solution. Below are some ways you could get on top of the matter:

Make a list of everyone you owe money to

Making a list of all your debts and how much you owe will make the situation seem a lot less daunting. If you are unsure who you owe money to, we can find out for you by running a credit check.

Consider selling valuable items you don't need

Having a clear out of any nonessential items that you do not need can be a way of generating in-come that you could use to pay off debts you have. This could include selling certain items and buying a cheaper alternative if this is possible. Be realistic if you look at this option, making sure you can do without the items you are selling or downsizing.

Get an additional income

If you’d like to start paying back your debts quicker, getting another job is an option. It gives you a steady and predictable income, which is what you need when it comes to paying back debts. It might not be feasible if you work full time already, but if you have free time on your hands and want to earn some extra money, why not give it a go!

Make a budget plan

By having a budget, you know what is coming in, what is being spent, and how much money you will have at the end to pay back the debts. Sharing this with someone you trust could be a good way to ensure you stick to it and don’t relapse into betting.

Here at DFH, we are experts in supporting people in budgeting their money effectively. We may be able to help you to budget your money so that you can pay your priority bills, make debt repayments, and afford day-to-day expenses.

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