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jarwod
Starting Member
United Kingdom
3 Posts |
 Posted - 08 July 2010 : 00:26:54
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hi,
i been a gambler for many years some good some bad,last few years ive been on a dad run and lost about 14k, mostly on credit cards, did take aloan out last oct for 10k to pay most of but ended up losin most of it since.
total debt is 27k now. after a pay everything out i left ith about 100 pound spare. hav mortgage but no equity.
thinkin of tryin to go bankrupt.most of my debt is thro gamblin but not all prob half.my outgoinga hav excided my incomings for the last 5 years, 600 mortgage 200 loan plus bills.last few months as i hav panicked i lost about 6k i hav records of this thro online etc.
question is would i be excepted for br?
many thanks just touched worried now |
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jarwod
Starting Member
United Kingdom
3 Posts |
Posted - 08 July 2010 : 00:31:28
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sorry about the spelling i didnt check!
j d w |
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debtinfo
forum expert
2826 Posts |
Posted - 08 July 2010 : 06:26:44
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| Generally if you have been losing substantial sums to gambling over the last couple of years, you will probably be given a BRO/U which continues some of the bankruptcy restrictions for between 2 and 15 years |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 08 July 2010 : 11:35:17
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Hi JDW
Welcome to the forum.
what to expect ? the panic and frustration leading upto court date, the relief as you walk out of court, the fear before you have the meeting with the OR (official receiver), and then the in limbo will i get an IPA (income payment agreement) or BRO (bankruptcy Restriction Order).
I would suggest trying to get help for your gambling or else you could go BR next month and then be in the same situation a few years down the road.
with your house, Car ? and the possibility of a BRO I would encourage speaking to one of the experts, they are to the left of this screen, you need to get every thing planned and written that shows how you have changed.
I have used Paul and his team at reviva and would recomend a call
regards Richard |
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jarwod
Starting Member
United Kingdom
3 Posts |
Posted - 08 July 2010 : 11:52:46
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Cheers richard.
Spoke to someone and they surgested a debt management plan for a year maybe.
j d w |
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xmas baby
Average Member
537 Posts |
Posted - 08 July 2010 : 12:33:47
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Hi Jarwod,
Just thought I would mention that a large proportion of my debts were due to gambling and I was very worried that I would receive a BRO when I declared bankruptcy. However, this did not happen and I am now discharged. I did mention to the OR that I would be seeking counselling for my gambling and I completed this within the first 6 months of my bankruptcy. I think you do need to be aware of the possibility of a BRO, but similarly, just because you have gambled does not necessarily mean you will receive a BRO.
Good luck
xmas baby |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 09 July 2010 : 10:52:57
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Hi Jarwood
a debt managament plan (DMP) can be good to buy yourself time whilst you put other plans into action. it will also help with being able to show that you have been able to control your gambling.
The negative with a DMP, if it is the only solution you elect to use it will take many many years to clear the original debt
I was on a DMP for about 18 months it helped keep my creditors at bay and gave me some peace
good luck with the path ahead Richard |
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hi,i been a gambler for many years
