Hi there. Is there any way you could file bankruptcy? If so, it will give you relief, however, it will also allow you to get back into the same hole again. If you go this route, you should let someone else you trust take over your finances or this could lead to more debt. I pray everything gets better for you and all of us. This disease sucks. I am such a different person when I don't gamble and can't believe the disgusting person I become and how I lose control and all sense of morals and responsibility. So I know exactly how you feel. Stay strong.

Hi fromthisday...I know how you feel! I honestly thought I was due a big win, too. But if I'm honest I know I would have gambled it away, anyway. Any time I had small wins, I never walked away with it. I'd gamble it and then take more out to play with.

The only thing to do is just accept the losses and stop, which I think you know on some level. I think someone here once said "to get out of your hole you have to stop digging." I don't know about your debt, but mine was credit cards and so I am just paying as much on them each month as I can and working extra when possible. There really is no get rich quick option, just a lot of work. But gambling will only make the hole bugger, and suck up your time and emotion as well. Now, I would rather be at work any day than the casino.

All the best to you. :-x

I am in a similar situation. I have $112K in debt from my gambling addiction. I have not gambled in nearly 10 months.

While I was enslaved by my addiction I believed it was debt that kept me gambling. This was false. I won big several times and have it all back. I wasn't gambling to get even. There was much more at work and until I came to terms with what made me vulnerable to this addiction I couldn't stop.

I have been paying nearly $2900 a month just to stay current on my bills. This had been extremely stressful. One mistep and I would be screwed. I also could not save any money for emergencies.

Last week I made the decision to file Chapter 13 bankruptcy. This will allow me to pay back 100% of the money I owe with no interest over 5 years. This will save me $900 a month. It also allows me to make 1 payment instead of 14. This has been a huge relief for me. My credit will suffer but that is a sacrifice I am willing to make. I now have piece of mind and a clear path to resolving the financial hole I dug for myself.

Having this extra money makes me extremely vulnerable to a relapse. I realize that and will work extra hard to ensure I do not let my guard down and lose sight of what my goals are.

I am not saying this is the best solution for your situation. I would recommend you talk to a credit counsler. They offer free debt advice. Then talk to a minimum of 3 lawyers that special in debt resolution and bankruptcy. That way you can make an educated decision that's best for your situation. This is what I did and I am better off for it. They all recommended the Chapter 13 and it did make the most sense.

Making sure that you don't gamble is important. Once you know for certain and fully accept that you can't get out of this hole through gambling, that's the first and most important step.

Try consumer credit counseling. I used ACCC (American Consumer Credit Counseling) for $23K in debt. I ended up with payments reduced in half. You have more debt than that, but still, it might help.

Consider doing extra jobs on the side. Even small work, like babysitting and working at a store a few hours per week, adds up to a few hundred dollars each month.

Thank you for your comments. Bankruptcy is not an option, I am newly married and cannot put my new husband through that. It's not his fault all the damage I have done.I don't think you can file bankruptcy by yourself if married?
So, I may have to ask for a personal loan with a cosigner, parents. Not sure if I can get that but will try.

Just be careful, when you pay off your existing debts with a consolidation loan the temptation to gamble again will be very strong. That's what happened to me. I ran up all my credit card balances to the tune of $60,000. Then I got 3 personal loans to pay them all off only to start the process over again. Large personal loans are difficult to get. If you have good credit and a cosigner that will help. I was able to get personal loans from Lending Club and Prosper. Peer to peer loans are easier to get than a loan from a bank when you're talking about larger amounts. The interest rates are much more reasonable than a credit card and it is a fixed term loan, not a revolving account. Just please do not make the same mistake I did and start racking up gambling debt again once you have consolidated your current bills.

I am not sure what the laws are for filing bankruptcy while married. Let my situation be a wake up call for you though. If you do not stop gambling today you will find yourself in the situation where bankruptcy is your ONLY option. I am telling you this with the hope that you will stop gambling before you take things too far like I did. I can't even remember all the moments I had where I could have stopped in been in a financially stable position. Trust me, there's no happy ending for a gambler other than finding the path to abstinence. You will not get the big win you are hoping for that will wipe the slate clean and allow you to become a social gambler again. Once you cross that invisible line into problem gambling there's no turning back. The only solution is to stop.