As the gambling options in Maryland have continued to grow, I have seen more and more people in Charles, St. Mary’s and Prince George’s County who need to file for bankruptcy because of their gambling debts.
The problem is that the number of people dealing with gambling addiction continues to grow. With the legalization of sports gambling this problem is almost guaranteed to get worse.
Like any addiction, a gambling addiction can affect just about everyone the addict knows.
And it seems to me that the problem of debt only makes this worse. When faced with the problem of their debt, the gambler thinks the solution is to gamble more.
Will the bankruptcy court help you out if you are in this situation? Maybe! But first, if you or a family member are stuck in this situation, don’t make the situation worse!
Are you facing gambling debt and considering bankruptcy? Contact our firm today for a free consultation: (301)645-4100
Jason Peterson2023-10-17I have been dealing with tucker and Amanda since November of 2020. They have been helpful, informative, and got me the best resolution for my settlement. It was a long 3 years of back and forth to drs and dealing with everything but it all finally came to an end. Thank you for the help.
Donesha Elliott2023-10-04This company is the best law firm you can work with. They have great response time and they care so much about what’s best for you and not what’s best for them. I would recommend Tucker Clagett services a million times.
Rose Rosier2023-07-25The process was easy and explained every step of the way. Great staff and accomidated my new work schedule. Would recommend if any legal problems.
Katie Montgomery2023-05-26One of the best lawyers out there! Didn’t have to go to court for my workers comp claim and he made the entire process easy. While it was stressful to wait he answered all of my questions quickly. Talking to him was very comfortable, like talking to a friend. Never had to wait for a return phone call always got to speak with his para legal, Amanda who is also a very down to earth most caring person! They both went above and beyond and I cannot thank them enough for what they’ve done for me. I will be back for any other services I may need SOMD Law for. Very affordable and professional. I would recommend this office to any friend or person in need of a 5 star lawyer! Thank you to Office of SOMD Law!
Quon Wilson2023-05-18This firm is excellent! I greatly appreciate the detailed counsel provided to me by Mr. David Gormley who guided me to the best attorney to meet my unique needs. I am very happy with the outcome and I am grateful for Mr. Gormley’s counsel and recommendation.
darren berry2023-04-05It was a rewarding experience talking to Mr Clagett. He provided me with information that i requested which was very helpful
lpcityhotrods2023-02-25wow....no other words to say. My attorney, Mr. Clagett was an awesome attorney to work with, he was very patient and very understanding to my concerns and issues. Not only did Mr. Clagett gain my trust as my attorney, but he also gained a good friend. I would highly recommend this firm for any legal issues you may have. THE BEST!!! Thanks for everything - Anthony
Missy Brooks2023-02-23If you need a bankruptcy attorney, look no further. Mr. Gormley, my attorney and his assistant Dana were not only professional, they also listened and understood my situation. They show empathy and understanding. Mr. Gormley and Dana made the bankruptcy process very easy. And made sure I understood everything every step of the way. They are definitely the best team to hire for all your bankruptcy needs. Thank you so much Mr. Gormley and Dana for everything. My life is so much better thanks to you both. Keep up the amazing work!!!
Whitney Staples2023-01-13Fantastic office and staff. Extremely kind, patient and professional from the first phone call with the receptionist, to walking in the office and every interaction thereafter. Tucker Clagett answered every question quickly and kept me informed during the entire process. I felt extremely comfortable and a tremendous weight lifted off my shoulders after the initial consultation. If you are in need of a lawyer, I highly recommend Tucker Clagett with Southern Maryland Law.
Shanetta Cole2022-12-07I would like to say that Sounthern Maryland Law is the Absolute Best Firm!!!! Everyone there was so kind, caring, understanding, and welcoming. Mr. Tucker Clagett is the attorney, which handled my case. He was attentive, and knowledgeable about my situation. I would definitely recommend anyone in need of council to this Firm. Thank you again Mr. Tucker Clagett for your help!!!!
When the addict falls behind on their mortgage or car payment the friends and family think they are helping them out by lending them some money. But, inevitably, the person with the gambling addiction just turns back to gambling to try to pay back the debt.
Since the addict no longer has to go to Las Vegas or Atlantic City to gamble, it is even easier to hide their problem from family and friends.
If someone comes to you for financial help, make sure to consider the possibility that they may be dealing with a gambling addiction. You don’t want to be the person who tried to help, but only made things worse or enabled a problem.
If you have a gambling problem, or know someone who does, bankruptcy may be an option they should consider.
When someone meets with me about bankruptcy because of their gambling debt, I try to make sure they have sought help and encourage them to seek addiction counseling. Gambling addiction, like any addiction is a difficult issue to deal with. Don’t face this problem alone. Seek professional help for the addiction. The Maryland Gaming Commissions Resource Page is a good place to start.
The most common bankruptcy options for someone with a gambling problem are Chapter 7 and Chapter 13. Chapter 7 bankrupcy can be thought of as a straight wipe out your debts option. Chapter 13 bankruptcy is a payment plan option.
Each has his its plus and minuses. The debt you don’t have to pay back in a bankruptcy is considered to be discharged.
Chapter 7 can be a good option for someone who has dealt with their gambling problem, but just can’t make the debt they built up go away.
If they are eligible to file a Chapter 7 they can get out of most of their debt, focus on their recovery and move on with their life. The case may be over in as little as 4 or 5 months.
Before someone files a Chapter 7 I want them to be as sure they are doing everything they can to make sure they can avoid a relapse.
First, you can’t file another Chapter 7 for 8 years. This is your chance to get a fresh start. Don’t blow this chance only to end up back in gambling debt. As soon as your Chapter 7 is over you may receive new credit card offers so this can be easier to do than you would think.
If someone can afford to pay back some of their debts a Chapter 13 payment plan is good option.
In a Chapter 13 a payment plan is established to pay back some or all of your debt. The typical payment plan is 5 years.
This payment plan puts you on a tight budget. But having one payment to make to a Trustee will be less stressful then dealing with a credit card bill coming in every other day.
In a Chapter 13:
Chapter 13 can be a good way for someone to take responsibility for their debts without having to deal with them forever. You have to live on a budget without credit. And you have the structure of the Bankruptcy Court preventing you from taking on any new debt.
It can also be an option for someone who can’t file a Chapter 7 because they have prior Chapter 7 discharge that is less then 8 years old.
This can be an option if someone has relapsed after a Chapter 7. They can then file a Chapter 13 payment plan to deal with this new debt.
If the prior Chapter 7 is less than 4 years old they will have to come up with a payment plan that pays their creditors in full. If the plan pays the creditors less than what they are owed this debt will not be discharged. The debtor would still have to deal with the balances after the case is over. If the Chapter 7 if more than 4 years old the Chapter 13 can discharge some of the debt.
See our Free Legal Guide What You Need To Know About Bankruptcy In Maryland for more information on filing for bankruptcy.
A gambling addiction is a serious problem. Filing a bankruptcy is not going to change that.
In fact, if you file a Chapter 7 before you have addressed the problem you might be able to find yourself quickly back into debt. But to have a chance at recovery you need to come up with a plan to deal with the debt your face.
It seems to me that if you are trying to deal with a gambling problem and you don’t come up with plan to deal with the debt, you may be setting yourself up for failure.
Don’t let the debt from your gambling problem ruin your financial future. Recovery is hard enough without having financial stress hanging over your head.
When you are coming up with a plan to deal with your gambling debt, come in for a free bankruptcy consult.
We will look at your plan and make sure it has a chance to work. You don’t want to pursue a plan that sets you up for failure – or worse, take steps that can make things make an even bigger mess. (See our post Trying to Avoid Bankruptcy? 5 Mistakes Not to Make?)
We will look at your bankruptcy options. Then you can decide what plan will help your bounce back quicker from the debt you face and help you move on with your recovery.
Contact us today for a consultation
Want to know more? Discover what you need to know about bankruptcy in Maryland. Click here to see our Free Legal Consumer Guide to Maryland bankruptcy cases and get answers to your questions today.
Know your options. Be informed. Protect yourself.
Need a bankruptcy lawyer? Please contact us for a consultation today if you need a Maryland bankruptcy lawyer for your bankruptcy case.
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