help/advice

[Cons]

Diaz, it's your call. Yes, you are the one responsible for the debt, and that part of the equation will never go away. And as Paulie said, if you don't pay them back, you might do the same thing again.

But I think books should also look at how they conduct business. By letting people bet through deposits only, they are doing all they can to make sure that people bet with money they can afford to lose.

But books that take bets using credit cards (practically all books), have no qualms about doing so. They are letting people bet with money they often can't afford to lose. Sure, the player is responsible for his/her own actions, but I have little or no sympathy for a book that can't claim the funds if they were deposited by credit card.

I understand that books can't afford to simply stop accepting payment by plastic. Maybe if they all stopped at once... but that's an unfeasible idea that will never happen.

Nonetheless, like I said, the book bears part of the risk for accepting plastic and sometimes that risk means that they will not get their funds.

[reno]

The worst gambling addicts are the people hooked on Internet casino gambling. I talked to one guy who owns an on-line casino, and he told me that some people are gambling on his site virtually every hour that they are awake. (Note: His software lets him know when they are playing.) He loves the incredible profits that he makes from these compulsive gamblers.

[freak]

Ok here it is straight talk......

Bankruptcy is a major major liability when it comes to your long term credit history.

This will stay on your credit file for at least 7-10 years. Thus if you have any notions of buying a home, a car or any major ticket item. Chances are you can forget it.

Does this mean you cannot get loans if you file BK nope. What it means that if someone is willing to loan you money it will be a subprime lender. In laymans terms you will be outrageous interest rates and basically paying a lot more money than you ever thought you would.

Yes it is true you live in ca and there is a loop hole in that states legislature when it comes to gambling debts. However, an article that I read by Kevin O'Neill on these two cases stands true to me and probably many others. You in essence will welch on your obligations.

The worst label a gambler can get is a welch.

Enough of that though.

I work in the credit card industry currently the 2nd largest issuer in the world. I actaully help people such as yourself. This is my daily business, along with the being in charge of millions of dollars in assets.

I suggest the following to you.

#1 Contact your creditors and see what type of repayment programs they have to offer you.

By you making the step to call them ,instead of them calling you, will make it a lot easier on yourself, and at the same time limit phone calls to your home, place of business etc etc.

Expalin the situation to the bank and advise you are contemplating BK but would rather get some help from the issuer yourself.

#2 For those creditors that are willing to help you, see about doing what is called a settlement. This is where you agree to pay a certain % of the balance and the bank will forgive the rest. In all cases anything forgiven over $600 is reported to the IRS as income given. Thus think of those consequences.

#3 For those creditors that are unwilling or wont work with you, I suggest you place those bills at the bottom of the stack and always pay those on time that are willing to help you.

#4 For those unwilling to work with you, those are the ones you seek help with thru CCCS. They are a non profit agency run by the United Way. They are nationwide and totally free to you. How they survive is by contributions by your creditors. All your money 100 % of what you pay goes to your accounts. The creditors DO NOT take that out of your payment to them.

STAY AWAY from any agency that wants to charge you anything. Even if it is $ 5. They are for profit and you will run into problems.

There is a few reasons for doing this the way I have explained it. Although you have credit problems, the ones that work with you and you pay on time. Over a few year period your credit report will clear up with them. It is much easier to explain a few cccs accounts than everyone of them.

Your credit report will show account paid thru cccs which is ok, it shows yes you had or have a problem, but you took the measures to fix it.

#5 Don't be embarassed. More and more people are in severe credit card debt. Why ? The industry wanted so much of the pie, they made credit too easy to come by, and now many of them paying the price for it.

#6 Tell your wife...... Think of it this way.... would you rather tell her you are behind and owe a lot of money..... or some stranger calling to collect the money wondering why it's past due.

That will cause you more problems, be smart.... tell her yourself because if it isnt by phone, the letters will come.....

If you need help in doing any of this or setting up stuff, I can be of help to you.

My e-mail is slayurcru@uswestmail.net

I hope I have been of help to you and anyone else reading this.

FREAK

[morgan131]

Mr. Diaz,
As I stated in my first post I was in your shoes ten years ago. If you would like to correspond further you may reach me at morgan13@mindspring.com. I know what its like, I have been there.

morgan131

[Alex]

Amigo,

As evidenced by these replies, you've come to the right place.
I also commend you on having the huevos to accept responsability for the mess you're in.

My advice is this:

1- Tell your family.

2- Do not have (or try to have) your credit card debt removed. This is sure to hit the media and you'll become a poster child for weasels everywhere. Is this how you want your family to think of you?

3- DO NOT file for bankrupcy. Go to a credit couselor. Credit card companies are willing to work with you.

4- Get some help for your gambling.

Endure. You'll be a better man for it. Take a second or third job if you need to. Think long-term.

Picture yourself six, seven years from now. Do you want to see a man when you look in the mirror?

wager@mailandnews.com

[Cons]

Sorry guys, but I play strictly by deposit and have no sympathy for books that can't claim funds deposited by plastic. They chose to accept it, so they can face the risks.

BTW, if Diaz's bet is cancelled, won't it be the credit card company that will cover the 25k, and not the book? I assume the book receives it's money fairly quickly after getting the transaction authorised.

[PaulieDV]

Cons,

How are you doing and yes, this is Paul from the WagerSport fiasco.

Cons, I couldn't disagree with you more. Let's face it the sports books are a business and a great way to maximize profits is to accept credit cards. How is this any different than every department store in the world being able to take credit cards and buying something you know you can't afford? Should department stores stop taking plastic?

The point being is we are all adults and should be able to "control" ourselves. I know people (as is the case with Diaz) that have a problem controlling themselves, however, the sportsbooks, department stores, restaurants, etc., can't police us and shouldn't be in the business to police us. It is up to us as consumers to live within our means.

Ultimately it is us the consumers that will pay for the $25K that is forgiven by the credit card company by raising interest rates and credit card fees. Don't think for a minute that the credit card company will be covering the $25K.

[chestrockwells]

Mr. Diaz, although I can easily echo some of the comments made in the previous posts, I have the gut feeling that some of the individuals pressing home the position of "responsibility" and "not coping out" etc., have gone a bit too far. Now don't get me wrong. What they are saying is the right thing to do, in theory. What none of us know however is the reality that you're living in with this debt. We also don't know how much $25K is in proportion to what you make or how much you have socked away etc. Leaving all that aside, I think the whole moral slant to this has been pushed a bit too hard. As I'm sure you know, people and businesses get into these types of jams all the time. In many cases they have their debts discharged or file one type of bankruptcy or other. I've never personally done this but I do know people who have. Their lives did not END after that. I know a person who even bought a house after 7-8 yrs. I'm not trying to encourage you to do this but just to hopefully water down just a bit of what has been said by others. The one thing that is something you probably don't want to here from me or anyone else, is that no matter what route you take in all of this, I really think you need to tell your wife. In addition to being the right thing to do, I just don't see how you are going to pull any of this off without her eventually finding out.Hey,I live in California, Silicon Valley, so I know how expensive life can be out here. Therefore I understand the temptation you have to get out of this debt. Please consider telling your wife though, as I think not telling her is probably contributing to a lot of the stress that you feel now. I hope everything works out for you in whichever path you take.

[Cons]

Hi Paulie! Good to hear from you mate. How have you been over the years?

It all depends on how you view betting. If you put it on par with going shopping for CDs, then I understand your approach. I do think that there's more to it that that. I would sooner compare letting people gamble with money they don't have to a drugpusher who sells on credit to people who also don't have the money. It might be a harsh comparison, but I haven't seen anyone get hooked on shopping (though pharmaceutical companies will soon try to prove otherwise ).

In the end I can understand why the books take plastic. After all, it's a business decision, and in the end their money is safe anyway. VISA, on the other hand, is going to be the one picking up the bill. And like you say, I'm sure they won't be too happy about it. I don't know if it'l raise costs, as these guys have estimates losses that they take into account anyway, such as from credit card fraud and bad debts. And don't they make something like 3-4% of the transaction costs. That's a hiddeous ammount in itself. 1% is a lot...

Here in England you can't really bet by credit card, but only by debit card. I think that's a better solution, though I don't know how the technicalities would work with differentiating a VISA debit card from a VISA credit card. It's probably to do with the symbols on the back...

I agree that it's all up to the bettor to make the right decisions, not about the picks but about how to gamble and with what money to gamble. And yes, if you lose then you owe the money. It's a fair game, and I'd like to see it played that way. Send the money and do what you want with it. But if someone is allowed to play with money that he doesn't have, then I have no sympathy for the credit card company this time, if they are letting people do so.

Like I said, let people gamble with their own money, not with "borrowed" money.

[Diaz]

Guys, sorry for bringing this to the top again.

Morgan131, got the email...thank a lot. You brought out some interesting things that I hadn't thought about.

Freak, I emailed you but it came back to me as undeliverable. I used:
slayurcru@uswestmail.net

Mine is:

DiazDiaz99@Latinmail.com, hope we can talk soon.

To everybody else, thanks for the time, the counsel, and the different points of view. Just "talking" about the situation with you guys made me feel a lot better.

I will be back some day to let you know what I did.

Roberto Diaz

[Steve]

Mr. Diaz
IF you ever return to this sight to even read my post for your own good make it the last time you ever return to this sight. I like everyone else who has read your comments and wrote back wish you nothing but the best. I agree with everything eryone has said. I think you havent really faced your addiction fully because you yourself said you might gamble again. Dont , ever, ever, ever. This 25k seems like the end of the world right now but it is not even close. Put things in perspective. How much would you pay to bring back a loved one or keep your family together through all this. Time will work your financial situation out. You need professional help. You can not return to this sight for advise. Although it is good advise you cant look for your help on a sight that is a gambling sight promoting gambling. For you to even get to these posts you have to constantly be reminded of everything that goes on here. GAMBLING. A million bookmakers looking for clients a million gamblers looking for places to make bets and advertising advertising advertising for varys forms of gambling companys and bookmakers. GEt yourself help but not from this sight. Go all over the web if you like in other chat rooms. Go find a doctor to talk to. Go find a GA group and participate and draw love from your family through this sight. Look at it like this do alcoholics have meetings and get advice in bars. I think not. They would be far away from them . You should be to, far away from this sight. Weather you know it or not these subliminal messages will get to you. Get all the help in the world you need. I as everyone know you will beat it and wish you the best. You cant not get help for a gambling problem in a gambling sight. Your in the right direction. Help you need but not from here. Good luck
Steve