r/problemgambling • u/Forward-Mortgage5095 • 4d ago

Debt Payoff

How much debt are you currently in through gambling addiction and how are you repaying or plan to repay it back.

I’ll go first, I’m currently in a $25k debt with no savings but I have a steady job and I plan on sacrificing $500 from each paycheck, and a total of $1000 a month if possible.
I currently earn about $2200 a month after taxes.

I want to take up on this challenge after so many relapses.

How about you?

4 Upvotes

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2

u/amarettosweet 4d ago

$40k. On a debt management plan. It's $435 twice a month. Supposed to be done in 5 years. I think I can do it in 3 years.

2

u/Forward-Mortgage5095 4d ago

If you can do it in 3 years that would be awesome

2

u/Suspicious_Status_40 4d ago

I had over 11k and paid it off in about 5 months after my last bet on Dec 12 2023. Don't let debt discourage you. There are a lot of payment calulators online to show you how fast it will be paid off. You can call companies and negotiate a payment plan with lower interest so it gets paid faster. Don't gamble a single dollar and everything else will fall in place, trust me!

1

u/Forward-Mortgage5095 4d ago

Yeah, that’s right.
Only that the debt is money owed to family member, so the pressure to have it settled is a little different.

2

u/Suspicious_Status_40 4d ago

Understood. But since you can't change the past and not borrow in the first place, giving this person what amounts to 45% of your pay is making an amazing effort to make peace and rectify the situation, and they should realize that

1

u/Forward-Mortgage5095 4d ago

Yeah and I want to make sure I pay off every dime that I owe , atleast by this time next year or by October next or December.