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Mr Zimmerman was helpful and kind and prompt . He always answers his phone and that is refreshing . I will be using him for my bankruptcy in the future. He is one of the good ones . He is an outstanding attorney who truley care . He made ev...
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Mr. Zimmermann is a fantastic bankruptcy attorney who handled my case with care, efficiency and urgency. We were able to beat a judgement against me in the nick of time, and I truly feel a sense of relief due to the services of Mr. Zimmerma...
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This Lawyer will go above and beyond for you. As well as show tremendous empathy for those who are vulnerable and scared. His compassion to help civilian's shows through his actions and with his word. When he says he is going to call he cal...
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I’ve worked with Mr.Zimmerman on two different legal issues. In both instances he was fantastic! He is extremely knowledgeable and compassionate and able to breakdown a course of action into language anyone can understand. I would highly re...
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I highly recommend Mr. Zimmermann as an attorny. I recently purchased an investment property and boy was he helpful. He was easily available, very clear in explaining various concepts, laws and regulations, and provided very helpful tips o...
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- posted: Nov. 07, 2024
Whether you’re at the game or watching it on television, it’s impossible to avoid advertisements for sports gambling apps, such as FanDuel, DraftKings, Fanatics and BetMGM. When the Supreme Court allowed states throughout the country to legalize bets on football, basketball and other athletic contests, New Jersey was one of the first jurisdictions to allow this type of wagering. As a result, billions of dollars have been bet here each year, and substantial revenue has flowed to the state and Atlantic City casinos. However, the commercials don’t show the effect online sports gambling seems to have had on bankruptcy filings.
A study shows that personal bankruptcy filings have increased by 28 percent in states where sports betting was legalized following the Supreme Court’s 2018 decision in Murphy v. National Collegiate Athletic Association. Since then, the industry has experienced explosive growth, with millions of residents placing bets from the convenience of their smartphones. However, the accessibility of online betting has raised concerns about its impact on financial stability, particularly for those prone to gambling addiction.
Online sports betting is designed to be engaging, with live updates, odds and promotional offers constantly enticing bettors to place more wagers. Unfortunately, the convenience of online platforms can make it easy for individuals to lose track of their spending. For many, the thrill of potential monetary gain and a sports bettor’s feeling that they have some special insight leads to financial overextension and excessive debt.
If you, or someone close to you, is now overwhelmed by what they owe to creditors, such as financial institutions whose cards were used to cover gambling losses, Chapter 7 bankruptcy might be a valuable lifeline. A person who is eligible for this type of relief based on the means test and other factors might be able to discharge their debts and make a fresh financial start. Though many sports bettors feel that they’re just a hot streak away from breaking even, this is usually not the case, and the devastation caused by severe financial problems can affect other areas of one’s life. In fact, the review of serious New Jersey gamblers shows that 14 percent have contemplated suicide. Bankruptcy can be the lasting solution you need.
The Law Offices of James C. Zimmermann represents New Jersey clients in Chapter 7 bankruptcy matters. If you’re struggling with the financial fallout of gambling losses, or any other type of debt problem, please call 973-764-1633 or contact us online. We have locations in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.
