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| xmas baby |
Posted - 16 January 2009 : 15:05:47
Hello,
After initially thinking of an IVA, I now think it might be better for me to declare myself bankrupt. However, as much of my spending would be considered reckless by the OR and spent through gambling, etc within the last 6 months, I thought it best to wait a few months before declaring myself bankrupt as this might be seen in a better light. I have also contacted my creditors in the hope of negotiating token payments in the meantime. I have also taken steps to tackle my gambling addiction and my first counselling session is at the beginning of February. Most of my gambling took place during the summer of last year after my father died and I guess I sort comfort in gambling, but now see how stupid I was. My dad would not have approved at all. Does this sound sensible thing to do, to make token payments and have some distance between the reckless spending and actually declaring myself bankrupt? I have so many questions and fears, I just want to get it over with, but I am willing to 'stall' it if the OR would see this in a better light. I will almost certainly still get a BRU/BRO, but at least it may not be as long... I hope.
Any advice would be much appreciated.
Thank you
Keith |
| 1 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 16 January 2009 : 15:09:51
Hi Keith,
Your actions, whilst understandable, will almost certainly result in a BRO/BRU. On the SOA, you will have to declare all gambling losses within 2 years, so unless you plan to postpone your BR for that time, a BRO is pretty much a dead-cert!
Having said that, you have sought counselling and there were mitigating circumstances, so I would suggest the BRO/BRU would be a shorter timeframe to reflect this.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
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