Casino News

Financial Help for Gambling Debt: Top Organizations

Gambling has been integrated as a common pastime in the UK, and based on the survey conducted by the website Beating Betting, 38.7% of online gamblers spend between £10 and £100 per month. This means that gambling has become among common monthly expenses and some bettors find themselves under financial pressures due to excessive gambling.

In fact, gambling essentially starts with the sentence ‘I try my luck.’ However, over time, some people could become trapped by gambling and have serious addiction problems, and financial hardship can, therefore, arise. These major money issues will affect the compulsive gamblers’ social life, employment, relationships, and the final stage of bankruptcy, leading to a range of mental health problems. With the rise of gambling-related harms, the financial help organizations for gambling debts have also increased in the goal to help these degenerate gamblers. Here are the top organizations for people struggling with gambling debt.

GamCare

GamCare GamCare is a popular charity organization created to raise public awareness about responsible gambling. Operating and leading the national provider National Gambling Helpline, this recognized independent charity has existed since 1997. Finance and debt management are among the services provided by this organization to help gamblers who have gambling-related problems.

With this service, the gamblers are sensitized to seek out support on GamCare. According to this body, 70% of the gamblers who call the National Gambling Helpline operated by GamCare mention that they experience financial hardship or experience increasing debts. One of the manifestations that GamCare accomplished to reduce gambling-related financial harm (GRFH) is to bring together banks, debt service companies, gambling operators, and gambling support organizations. In this collaboration, the four sectors share their knowledge and implement an initiative to help customers affected by GRFH.

Barclaycard

Barclaycard Barclays has become the first well-reputed bank to help its customers to reduce certain types of spending on their debit cards. In 2018, this financial institute started to provide a refund scheme to customers with loans or credit cards that have been charged interest. The first step that the customers do is to get in touch with Barclaycard, and this organization will ask them about their incomes and expenses.

Barclaycard has a few ways to help them to take back control of their finances. For example, after downloading the Barclaycard app, they can block payments at any online casino that accepts credit card or set a spending limit for a single card transaction. Moreover, when their spending is uncontrollable, Barclaycard can temporarily block their card and can change the amount of money they can take out of cash machines.

Creditfix

Creditfix Creditfix is one of the biggest personal insolvency companies in the UK, established in 2007. The firm offers its service by taking control of its customers’ debt every year. Regulated by the Insolvency Practitioners’ Association, this great company is founded to offer debt advice and solutions for every type of debt problem, including Gambling debts. The gamblers who are dealing with debt and want to be helped and supported should, hence, contact Creditfix.

As a matter of fact, the organization provides three main types of services: helping the consumers take control, evaluating their debt level, and proposing effective strategies for handling problems. Note that Creditfix supports people who are struggling financially in England, Wales, Scotland, and Northern Ireland.

Money Advice Service

Money Advice Service Another organization released to tackle problem gambling and debt is Money Advice Service or MAS. This body is the largest single funder of debt in the UK and well-known for providing the best service and guidance. This independent organization aims to help the gamblers to face and cope with financial difficulty and find long-term solutions to money problems.

Actually, the MAS goal is to support and help the customers by managing their money, building their financial resilience, and helping them to deal with their creditors and reduce their debt. By applying the initiative to conduct large-scale surveys about the advancement of the research and development function of the strategy, Money Advice Service hopes the gambling industry comes with a brighter future. The gamblers who seek financial help for gambling debts or need guidance to get back in financial control should contact the MAS support. This service is available 24/7 on live chat and five days a week by telephone.

Michael Grant

Michael writes news articles covering covering whole casino industry. He is passionate about online poker games. He regularly contributes in-depth news stories regarding casino industry and legislations.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button