Stop further losses first
- Block gambling payments at your bank and install a blocker.
- Self-exclude and close gambling accounts.
- Consider letting someone you trust help manage your money for a while.
- Do not take new loans to cover gambling losses or old debts.
Get a clear picture
List every debt: who you owe, how much, the interest and the due date. Note essential costs such as rent, energy and food first. Many countries have free registers that show your consumer loans and debt collection cases.
Building a debt list
List every creditor
Write down each debt with the amount, interest rate, monthly payment and due date.
Put essentials first
Housing, energy and other priority bills come before credit cards and loans.
Keep paperwork together
Collect letters and statements in one place; a debt adviser will ask for them.
Talk to creditors early
Contact creditors before payments are missed, explain your situation and ask for a payment plan. Creditors are usually more flexible when they hear from you early. A debt adviser can do this with you.
Free debt advice by country
| Country | Service | Contact |
|---|---|---|
| United Kingdom | National Debtline / StepChange | 0808 808 4000 / 0800 138 1111, both free |
| Finland | Talous- ja velkaneuvonta; Takuusäätiö | Free advice via legal aid offices; Velkalinja 0800 9 8009 |
| Norway | Nav – økonomi- og gjeldsveiledning | 55 55 33 39, free |
| Sweden | Municipal budget and debt advice | Free and confidential; every municipality must offer it |
| Denmark | KFUM's Sociale Arbejde; Settlementet på Vesterbro | Impartial, confidential and free debt advice |
| Iceland | Umboðsmaður skuldara | 512-6600, advice on financial difficulties |
Never gamble to pay debts
Gambling to win back money is one of the clearest warning signs of a gambling problem. The odds are the same whatever you owe, so it usually makes the debt bigger.
Questions and answers
Is debt advice free?
The services in the table offer free advice, for example National Debtline, StepChange, Nav, municipal advice in Sweden and the Danish services listed.
Will my bank help with a gambling block?
Many banks let you block gambling payments in their app. Ask your bank if you cannot find the setting.
Should I tell creditors that the debt comes from gambling?
You decide. Explaining the situation and showing a plan often helps when you ask for a payment arrangement.
Sources
GAMSTOP — Get help with your finances
Vero — Apua oman talouden hallintaan
Sundsvalls kommun — Budget- och skuldrådgivning