Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By Steve V
#923 Hi,

I'm so pleased to have found somewhere like this because it looks like what I have been dreading doing for weeks (filing for personal bankruptcy) may not be such a terrible ordeal as i thought.


For about 18 months i have been gambling like a maniac on the Internet and for those of you not similarly addicted the following figures may seem astonishing. I have won c. £55000 at various online casinos in that time and yet I now find myself with £45000 of debts in the form of maxed out credit cards and 4 (four) unsecured personal loans. I have £1050 per month coming in after tax, and the payments on the loans take £735 of that. Because I live with my parents, I could actually handle paying back the loans but the Credit Card payments are beyond me.

I understand that because I have totally brought this situation upon myself that the law will treat me in a different light to people who have got into difficulties through losing employment or having a struggling business, but does anyone here have a similar experience or could someone explain how i will be treated differently for bankruptcy purposes?

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By JaneClack
#935 No one can really say what an individual Official Receiver will say or do.

Gambling would be construed as reckless behaviour but gambling itself is no longer a bankruptcy offence. However, it is likely that you would have a bankruptcy restriction order placed ( or asked to agree to a bankruptcy restriction undertaking!) which would extend the effects of bankruptcy e.g. not taking out further credit of more than £500 without informing the lender etc. However the fact that your bankruptcy will stay longer on your credit file is the most damning effect (will this get four stars I wonder) - but not of course unless you want to take out further credit. This, I would think is the last thing on your mind at the moment.

And gambling online can become very addictive - doing anything online can viz writing this at 10.55 pm. You are not alone - in the past few months I must have spoken to a dozen!

Go to GA - it helps and shows the OR you are doing something about it. He is not there to punish you, anyway. The BRU/BRO is the worst thing but it goes away ....

Good luck, Steve

Incidentally - on one very strange night my husband pulled me off the computer at 3am as I had been playing spider solitaire for four hours!!! Sad,eh? Who is to say that if I had had a credit card I would not have used it on a gambling site?
By Steve V
#951 Thanks Sarah,

I have got a phone appointment with CCCS on 6 september so I will see what they think.