I'm over $50,000 in debt because of gambling and I have no way paying it back. Is bankruptcy really that bad...

I'm over $50,000 in debt because of gambling and I have no way paying it back. Is bankruptcy really that bad? Or is it nothing to worry about?

do you already own everything you need and want? if not then someone need to trust you can pay them, which they cant do now.

Im trying to make sense of this post and it gets more retarded the more i read it

yeah, same.

do it, mostly for stuff like that

make sure you liquidate (for cash if possible), or lend to/store at friends any valuable assets you may have so they can't repo anything

>5 yrs working in Risk Management

thats because youve never financed a car and a house fucking NEET

everything I own is exempt, so I don't need to really worry about it. its the ego damage thats most concerning to me.

i feel you, brother

it's a toil, but seriously it's your best exit strategy at this point.

swallow you pride and restart your life unencumbered =)

Did you really lose 50k at poker?

you're right. and its really the only thing I can do at this point. but somewhere deep down tells me NOT to and that I can pay it back, even though the outlook is pretty stupid at this point. I guess its more of a self belief thing. I believed in myself that I could do it. and now seeing I can't, just casts a lot of self doubts. and guilt. like how could I bankrupt myself over something so damn stupid. guess I just gotta bite the bullet and push myself through.

closer to $65k, but yeah, just table games and slots. I couldn't get into poker.

don't worry, man

acceptance is the first step.
there's no need to bust your back to pay back a 'fictional' debt like a gambling loss.

it's not that you robbed investors or aren't paying back contractors - it's the casinos, right?
Screw those guys, they've already written off the debt for a 10k tax credit anyway (and would have happened with or without your action - statistically speaking, others would have done that this year)

Best wishes!

it wasn't through the casino though. it was through CC's and personal loans. mostly major corporations but some were p2p lending, part of the reason I feel like a cunt.

still, not too different from your POV

proceed with the bankruptcy, brother

also, have friends/lovers/anyone held you accountable in the future so you don't find yourself in this situation again, yes?

time to buy a mask and go rob federal banks. that way if you get caught you do federal time

I'm going to, but I guess the reason I feel so awful about it is because of an integrity issue. like they trusted me with their money, and I can't pay it back. its less of an issue with some faceless corporation, but more of the issue of p2p lending. they'll never see that money again, and I know its a risk with any investment, but no matter how I look at it, I can't bring myself to being alright with it.

and nobody has, but I think my parents suspect. I've yet to talk honestly and openly with anyone I know about my situation, because I can't face the personal shame. like, it even took a great amount of strength to just admit it to myself and post about it on Sup Forums.

I'll probably just end up banning myself from the casino, so it doesn't happen again tbh.

rob a casino.

Where do you get the loans in order to gamble? Been thinking of doing this myself.

65k in slots and which table games if not poker
blackjack?

There are alternatives to bankruptcy that wont effect you as negatively, such as a consumer proposal. It really depends on the type of debt, if it is just credit card debt go with the consumer proposal. I had 25k in credit card debt and did a proposal, ended up settling for 5k half of which was the trustee fee and took a big ding on my credit score, but three years later I am out of my proposal and I've got two credit cards and offers to increase my limits etc

so u make a thread answer one question and leave?
i hope they break your fuckin legs criminal scum

just have decent credit and income. it was too easy to get a loan that was out of my budget. I got through personal loans but I also believe casinos lend money but I'd be careful because depending on the state you can go to jail for getting money from a casino and filing a bankruptcy.

yeah, blackjack.

How does one develop a gambling addiction?
I mean, after losing a few thousand dollars, isn't it not fun anymore?
Did you honestly think you could pay back those loans with gambling winnings?

its more of the feeling of winning that addicting. it makes you feel good when you get a big win. I was stuck and depressed and didn't care about how much I lost at the beginning, all I cared about was feeling good. its a bad cycle to get caught up in.

Interesting. Do you get urges like I do with alcohol?

at the height of it I did. not so much anymore. I've heard it can be compared to any substance abuse depending on the person. a win or bet can light up the same reward systems as drugs do. I did it because it made me feel good. for me I'd say it compared to a cigarette. when I'd feel down, I'd go for it.

Very interesting. What made you you realize you were out of control

Washing state is lock tonight. Send it in

there were signs, but I kept ignoring them or pushing them away. like telling myself I had an income problem when I couldn't buy gifts for important moments in my friend's lives. I would gamble the money away instead of, say, buying a wedding gift for a long time friend of mine. and tell them it must've gotten lost in the mail or something. the depression I had really numbed things for me, so it was hard for me to recognize it. I also kept telling myself I'd pay it off, I'd pay it off in the future, when I got a better job, when I do this that etc. but things kept spiraling out of control. and then I ended up where I am now. living in my parents house like a sap.

not OP but please dont trigger me

You're already in debt so you might as well round up as much money and loans as you can and put it all on black until you're out of debt or ready to shoot yourself.

You should have learned poker or sports betting, you fuckwit. Games you can actually beat.

and the worst part is I knew it all along. but at the casino the pain stopped. I was lonely, my roommate was a piece of shit, and I felt hopeless about my money situation. at the casino, that all went away. so I just kept going at it, shoveling my money in. money I didn't have. all for feeling better about myself for a few hours. it felt good to gamble, but when I left, It would be so painful. because of how much I lost. I gambled because I felt bad, and I felt bad because I gambled.

>You should have learned sports betting
my sides

those tubes are fucking cool. What are those called?

Wow, so how did you finally stop? Are you still gambling?

Are you kidding? Baseball is even easier to have an edge on than limit or low stakes PLO.

Check it fagggggs

No harm meant, gambler myself, and I'm not gambling now and seeing things clear.

they're called nixie tubes. old cold war technology that people turn into clocks nowadays.

tbh, yeah, I haven't really stopped. and I feel like a fuckin idiot for it. even when I have to file for bankruptcy I've still lost $700 this month at the casino. its sad really. and nobody I know is aware of it.

R.I.P.

thats cool as fuck and you keep getting dubs.

Thats harsh as fuck man. Where is the money coming from now?

yeah. just my paycheck from my pitiful retail job. I'm better than that place and I know it, people have told me, etc . which is why I've been able to keep lying to myself for so long.

it was a thought process like "I know that I can do better financially, why don't I just enjoy myself for the next few hours?" kinda fucked up now that I look at it.

Time to borrow money from less legitimate sources like gangsters and try to win money to clear your debt
That way if you can't pay them back they'll kill you and the p2p people you stole from won't feel so bad

I gotta say it again man, if you enjoy gambling so much and can't stop, at least pick a game you can actually win.

The house always fucking wins, so stop playing against the house. If you get even a 2% edge on NLHE you can turn your degenerate life-ruining addiction into a steady income stream.

Your posts are always fucking garbage, but in this one instance I agree with you.

Well man I'm honestly wishing you the best.
I'm off to the bar. Have to walk there in cold weather, but w/e

Best of luck bro, I truly hope you get shit figured out.

I'll leave you with one critical piece of advice: the depression is the key. Get treatment for depression.
Triggers and coping machenisms are not just SJW buzzwords, they are a real, lifesaving thing.

Stay strong, and try to search an assiciation or something that can help you ! Speak with them about the problem, there is always a solution !

thank you user.

I've seriously considered it but am too embarrassed to talk to someone personally. kinda why I'm on here.

yeah doesn't make sense
ok, sure, but how about you type a response that doesn't come off like a retarded poon jab