NEVER GIVE UP

One thing there is no shortage of on the net is opportunities to gamble. We have been spoilt for choice, whether your fancy is for betting on sports, playing virtual card games or bingo. Among the items that makes internet gambling so potentially dangerous is that it’s easily available for 24 hours a day.

The real danger comes once you combine this factor with the truth that it is so easy to feel detached from the truth of investment property online. Gradually accumulating a debt online will not feel the same as handing over money from our wallet, so it’s that much easier to lose track of how your online spending is mounting up.

For these reasons, debt problems from internet gambling are on the increase. In this post I hope to clarify a number of the legalities around online gambling, along with providing some advice on dealing with the underlying problem and the debts that result from it.

LEGALITIES Around Gambling Debts

When we discuss debt from online gambling it is important to be clear concerning the nature of your debt, because who the money is owed to does make a difference. People are often unsure concerning the legality of debts from online gambling. In the UK you can gamble legally on credit and incur a debt, but this debt is not then enforceable through the law.

However, there is a significant point to make here, that is that this only applies when you are using credit extended by the company offering the gambling (casino, bookie, etc). If you use a credit card company to cover internet gambling, that is clearly a legally enforceable debt the same as it would be in any other circumstance, as you have borrowed money from the charge card company, not the casino. playking88 is now against the law in america to use a credit card to pay for online gambling.

You will find that lots of bank cards will regard a payment to an internet gambling website as a cash advance. This is then clearly borrowing money from the card issuer and the debt you incur can be pursued through legal action. Should you choose use a credit card to pay for online gambling this way, you should be aware that cash advances on bank cards are almost always charged at a higher interest than normal credit for purchases.

HOW TO APPROACH Debts Caused By Gambling

In dealing with gambling debts, there are two separate issues to tackle. One may be the debt itself, and another is the habit of gambling that led to the debt. Even if the debt is dealt with, chances are to build up again if the primary cause is not tackled too. Let us first consider the issue of paying off the debt.

The principles for tackling debt are often the same, irrespective of the causes of the debt. To permanently deal with debt you should not be considering borrowing more money or paying anyone to deal with your debt for you. These courses of action are likely to deepen your debt over time.

With a little advice, it is possible to deal with your financial situation yourself, by contacting your creditors and agreeing terms for repayment that you can afford. There’s clearly more to it than that, but it is beyond the scope of the particular article. The process is straightforward and allows you to take back control of your finances.