Login To Your Account

1-800-982-8445

Financial Freedom Community

This site is a resource for Financial Education, Debt Solutions and Tools to assist with Credit Management. All the resources on this site are free of charge. We encourage visitor feedback, Tell us what you want to see more of! Sign up for news & updates and we'll keep you posted on the latest!


Navigation

Home
Bankruptcy
Consumer Personal Loans
Credit Card Debt
Advantages of Making Credit Card Debt Payments on Time and Other Tips
Avoiding Credit Card Traps
Credit Card Counseling – Learn Credit Management Tips
Credit Card Debt and Simple Ways to Consolidate Them
Credit Card Debt Consolidation Nationwide Epidemic
Credit Card Debt Consolidation Solutions
Credit Card Debt Help for Senior Citizens
Credit Card Debt Reduction
Credit Card Debt Solutions That Can Help
How to Pay Your Way Out of Credit Card Debt
Paying Off Your Holiday Credit Card Debt
Prevent Identity Theft With a Credit Freeze
Saving Money on Your Credit Card Bills
Terminate Credit Card Debt Without Consolidation
Tips on Credit Cards, Part 1
Credit Collection Laws
Credit Repair Organizations Act
Fair And Accurate Credit Transaction Act
Fair Credit Billing
Fair Debt Collection Practices – Know Your Law
Statute of Limitations
The Fair Credit Reporting Act
The Fair Debt Collections Practices Act
The Truth In Lending Act
Credit Counseling
Can Consumer Credit Counseling Help Avoid Foreclosure
Credit Card Counseling
Credit Counseling a Must for Bankruptcy
Credit Counseling Benefits
Credit Counseling Can Reduce Your Debt
Difference Between Credit Counseling and Debt Settlement
Free Credit Counseling to Help Manage Your Debt
Using Credit and Debt Counseling to Manage Your Finances
What Can Credit Counseling Offer You?
What is Credit Counseling
What to Ask a Credit Counselor?
Credit Education
Consumer's Rights
Establishing New Credit
Finance Charges
Credit Reports and Scores
Credit Repair After Bankruptcy
Do you Know the Benefits of Checking your Credit Report?
Debt Consolidation
4 Valuable Tips on Debt Consolidation
Become Debt Free With Financial Advice
Benefits of Debt Consolidation
Bill Consolidation Loans
Bill Consolidation Advice to Help With Debt
Credit Consolidation: Is It Worth Taking?
Debt consolidation and Ways to Avoid Scams
Debt Consolidation Explained - What Happens if You Don't Pay?
Debt Consolidation Loans
Debt Consolidation Loans for Payday Loan Debt
Debt Consolidation Non-Profit
Debt Consolidation Now Will Improve Your Credit Score Later
Debt Consolidation Provides Relief from Financial Stress
Debt Consolidation Services Helps to Clear Debts
Debt Consolidation – Find Relief To Your Financial Stress
Debt Management Program
Debt Management Program Will Ease Debt Burden
Do You Need Debt Consolidation?
Get a Debt Consolidation Loan to Manage Bad Debts
Government Debt Consolidation Loans
Government Debt Consolidation Loans for Student Loans
How to Consolidate – Debt Help – Consolidate Your Debt Payments
How to Consolidate Bills Effectively When Left in Debt
How to Consolidate Debt
Let the government help you consolidate your debts
The Advantages of Credit Consolidation
Understanding Debt Consolidation Loans
Debt Settlement
Elderly Can Benefit from Debt Settlement
Financial Tools & Calculators
Bill Reminder Tool
Bill Reminder User Guide
Calculators
Car Loan Calculator
College Savings Calculator
Credit Card Payoff Calculator
Mortgage Loan Payment Calculator
Retirement Calculator
Savings Calculator
Loan Modification Guide – Do It Yourself
Frequently Asked Questions
Step 1: Prepare yourself
Step 2 Gather the necessary documents
Step 3 Know what to expect
Step 4 Contact your lender
Step 5 Review your loan-modification plan
Step 6 Finalize the approval and begin making payments
Home Buying
Build or Buy a Home
Choosing a Real Estate Agent
Home Equity Interest Rate Charges
Home Equity Line of Credit
Home Equity Loan Fees
Managing Your Mortgage
Mortgage Basics
Mortgage Debt Elimination, 3 Things You Must Know
Real Estate Laws
Refinancing
Renting vs Owning
Interesting Money Articles
12 Amazing Facts about Credit Card Debt
12 More Interesting Facts About Money – Part 2
24 Amazing Pictures of Money
Introduction To Budgeting
7 Steps to Successful Budgeting
All You Need to Know About Budget Basics
Basics of Personal Budgeting
Budgeting – How Much?
Debt Management and Prevention Using a Budget
How to Pay Off Debt – Start Budgeting
Maintaining and Budget Planning
Manage Your Debt by Learning How to Budget
The Basics of Budgeting
Transcript – The Basics Of Budgeting
The Importance of a Household Budget
Managing Debt
Debt Relief The Issue of Forgiveness
Get Out of Debt by Changing Your Financial Habits
Personal Finance Management to Reduce Debt
Start Early Teaching Kids Money Management and Savings
Saving Money
Banking & Credit
How 'Charge Offs' Effect You
Insurance & Housing
Money Management Means Setting Goals
PREPARING YOUR BUDGET FOR A WORSE CASE SCENARIO
Save Money When going to work
Spendaholic
Transportation Savings
Utilities and Savings
What Debt Should You Pay First?
Young Couple Finances
Student Loan Debt
Student Loan Default Penalties
Consolidate Student Loans
Student Loans and the Credit Squeeze
Types Of Debts
Auto Loan Prepayment Penalties
Balance Transfers
Credit Card Minimum Payments
Gambling Debt Problem Gambling and Bankruptcy Connection
Holiday Credit Card Debt
Ideas To Save
Inherited Debts?
Six Easily Avoidable Causes of Debt
Ways to Pay Off Holiday Debts
Video Library
Personal Finance Video library
Tax Tips Video library

Free Consultation




McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Latest Headlines

Latest Infographics

Most Popular Articles

Gambling Debt Problem Gambling and Bankruptcy Connection

Share

University of Connecticut Health Center

June 2000

Key Findings:

• One-third of problem gamblers who seek treatment in Connecticut have filed for or are in the process of filing for bankruptcy, which is nearly 8 times higher than the general population.

• The average bankrupt problem gambler wagers more than $5,000 per month; non-bankrupt problem gamblers wager approximately $2,900 per month.

• The lifetime debt of a bankrupt problem gambler was $112,000; the lifetime debt of a non-bankrupt problem was $68,000.

• Women problem gamblers were more likely to file for bankruptcy than men, 53 percent versus 23 percent.

Gender Differences in Pathological Gambling

University of Connecticut Health Center

October 2001

This study examined 115 patients admitted into pathological/problem gambling treatment programs at the UCONN Health Center.

Key Findings:

• Women start gambling later in life than men, 48.1 years vs 43.8 years, and seek treatment sooner.

• Men were more than five times more likely to have turned to illegal activities to support gambling.

• Although women pathological gamblers are less likely to have alcohol problems, they are more likely to live with a spouse with an alcohol or a gambling problem.–22 percent vs 7.1 percent.

• Male pathological gamblers are about two times more likely to have received treatment for substance abuse.

Gambling More Prevalent in Youths Than Adults

Randy Stinchfield, Ph.D., University of Minnesota,

Rina Gupta, Ph.D. and Jeffrey L. Derevensky, Ph.D., McGill University, Durand Jacobs, Ph.D.

This research was presented at the 106th Annual Convention of the American Psychological Association (1998).

Key Findings:

• 5 percent to 8 percent of American and Canadian youths have serious gambling problems. Adult prevalence rates run between 1 percent and 3 percent.

• Although the majority of young people are occasional gamblers, a percentage of youths do gamble regularly.

• Older, non-Caucasian male youths are most likely to gamble. Other factors increasing likelihood are antisocial behavior and alcohol use.

• A major finding from a University of Minnesota study, based on a survey of 122,700 Minnesota public school students in 1992 and 75,900 students in 1995, was that gambling frequency for most young people doesn’t change with time. Yet with a small minority of young problem gamblers, frequency did increase.

• Rina Gupta, Ph.D. and Jeffrey Derevensky, Ph.D., professors at McGill University, surveyed 817 high school students in Montreal. A few of the findings: more than 80 percent gambled in the previous year and 35 percent gambled at least once a week; enjoyment and excitement were the top motivators; and problem gamblers were more likely to have parents with gambling problems, to be involved with illegal activities and to have suicidal thoughts.

 

In addition to professional help for their gambling problem debt consolidation may also be a usefull tool to combat the overwhelming effects gambling can have on a person’s debt.

Strong Link Between Gambling and Alcohol

Research Institute on Addictions,

University at Buffalo, New York

John W. Welte, Ph.D., Lead Researcher

December 2001

Results are based on random telephone interviews with 2,600 American adults. This study was funded through a $1.2 million grant from the National Institute on Alcohol Abuse and Alcoholism.

Key Findings:

• Between 1 percent and 2 percent of the American population are compulsive gamblers or 1 or 2 people in every 100 are compulsive gamblers.

• Problem drinkers are 23 times more likely to be problem gamblers.

• Pathological gambling prevalence rates were significantly higher for non-Caucasian race groups. Caucasians, 5 percent; African-Americans, 3.7 percent; and Hispanic-Americans, 4.2 percent.

Study Links Gambling and Crime

Auckland University, New Zealand

Robert Brown, Peter Adams and Sean Sullivan, researchers

October 22, 2000

Results based upon a survey of 100 “newly received” prisoners.

Key Findings:

• 24 percent were designated as probable pathological gamblers, which was eight times more than the general population. There are more than 15,000 inmates in New Zealand each year.

• More than 40 percent of inmates designated as pathological gamblers reported a link between gambling and their offense(s).

• Many inmate pathological gamblers stole or committed other offenses to support their gambling activity or to chase their losses.

Share
McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams