In general it would be regarded as fraudulent for you to carry on borrowing money which you know you can't repay. In about 12 to 16 months I maxed out all my 8 credit cards ( 48K ) for gambling. Does it mean i have incurred debts that I know I have no reasonble chance of repayment, and regarded as fraudulent? Will BRO/BRU be imposed against me? I look forward to filing for personal bankruptcy next mnoth. I have no asset, only a car worth about £1500. Many thanks.
I presume when you used the credit to gamble, you thought you would win and repay the money back? In which case, you didn't lend it knowing you couldn't pay it back.
You need to prove that you've stopped gambling and are seeking counceling before you can declare bankruptcy.
Also, you may get a BRU/BRU if most of your debt is for gambling.
Is it fraudulent to borrow money which you know you cannot pay ?
Posted - 16 July 2013 : 23:23:18
