Many financial situations where personal debt obligations are not being met have an underlying reason that may not be associated with reduced income due to job loss. Some debt problems are found to be a direct result of a substance addiction or gambling problem.
We can point you in the right direction to get help and in turn assist in getting your financial problems under control through a debt repayment plan, a Consumer Proposal or filing for bankruptcy if needed.
If you or someone you know is struggling with a gambling problem, there is free confidential counselling available across Ontario for gamblers and family members affected by the gambling problem and its emotional and financial effects. There are also anonymous groups for both family and the gambler. The Ontario Problem Gambling Hotline is 1-888-230-3505.
What is gambling?
Gambling is risking something of value on a game of chance as in:
- casino games, slots, video lottery
- bingo, playing cards
- lottery tickets, scratch tickets, Nevada tickets, break open tickets
- sport betting and horse betting
- internet betting
- stock markets
What are the signs of a gambling problem?
A gambling problem is evident when gambling interferes with important things in your life like your job, paying your household bills, paying off your debts, your relationships and your health.
It is imperative that you seek help as soon as possible to get back on track both health wise and financially. Gambling can easily and quickly put you into the financial situation of having to prepare a Consumer Proposal or file for bankruptcy with a Licensed Insolvency Trustee.
Some other signs of a problem are:
- when the money needed for family responsibilities is gambled away;
- when there is a family member or friend who can’t be trusted with money;
- when that person disappears for unexplained periods of time;
- when debt and borrowing is increasing; and
- when lying seems to be evident as a cover-up.