In Trouble for Gambling Debt

As a bankruptcy attorney Memphis TN trusts, I’ve met a lot of people in trouble with gambling debt. When you walk into a casino for the first time, you don’t always know how your brain will react to gambling. For some, the experience stays fun and entertaining. But for so many others, gambling can evolve into a cruel addiction that leaves you overwhelmed with debt.

Many people can become very indebted to a casino. This may lead to some casinos chasing you down and calling you at all hours, suing for wage garnishment, and even placing liens on your home.

Yes, you read that right. If you go into a casino and rack up a ton of debt that you can’t pay back, they may try to pursue your property. Some gambling industry experts say that going after someone’s house is an extreme thing to do that they don’t see happen often. And that’s likely true. But it’s certainly happened in the past – most famously with two large casinos in Massachusetts in 2014.

Fortunately, all of this can be avoided.

How to Get Out of Gambling Debt

If you’re addicted to gambling, seek counseling to resolve that issue.

Then, if gambling has put you in debt, bankruptcy may be right for you. Bankruptcy clears your debt and helps you get a fresh start.

With the right attitude and lifestyle changes along with a little patience, you can come out of a bankruptcy better than you went in. And alongside counseling, you can use it to move forward with a life free from gambling addiction.

If you’re considering bankruptcy or if you have any questions, contact us online or call us at (901) 327-2100. One of our experienced Memphis bankruptcy attorneys will be happy to speak with you, free of charge.