CC advances, gambling

[Fedor]

Here's my situation. I'd appreciate any advice.

About $80K unsecured debt; probably 30-40% (wild guess) payback expected. There are multiple reasons for the debt (mainly overspending, but excessive car/vet expenses and other reasons are the major ones; gambling would list around 5th as far as what caused the debt).
Stopped using CCs in July; stopped paying in July also.
Have an attorney, but want outside advice (more is better).

CC advances: In Jan, had 3 CC advances for about 6K (same CC), and one 3K revolving loan withdrawal. This was to pay for gambling losses. Internet sports, but with a local 'contact'; all cash transactions. Don't worry; stopped gambling then, and have no urge (after 17 years of gambling).

Will these advances be questioned? Should I file in the next couple of months, or wait until 12 months are gone (Jan 2010)?

If they are questioned, what info is needed? 'Gambling': does that cause more questions (what type, where, and most importantly, with who or what company)? I can admit to the reason, unless it will be debt that is not included in BK, but I'm not naming names.

Also, why is there a question in the pre-filing forms to list all losses from fire, theft, gambling or other casualty within the last 12 months? Seems like a strange group of items (fire/theft/gambling). How do I handle this, and what red flags will it raise?

If I decided to wait until Jan 2010, will the calls stop (and go to the attorney) for that long? Do I have to be concerned about family/neighbors getting calls?

Thanks for your time. Any information would be appreciated.

-- Fedor

[NoMoreCards]

I do not know the legalities of the gambling debt and cash advances. However, what may help you IF this becomes a issue is some sort of proof that you have gotten help for what was clearly a problem. I don't know if they give some sort of certificates for completion of a ex-gamblers support place or not, like they do for NA or even AA.

I think showing that you recognized a problem and got help, says volumes and may very well help if it causes a problem.

Just a thought. I certainly wish you the best.

[jkb]

Creditors will contact famiy and neighbors - at least they did ours. We even had one creditor contact my sisters inlaws - whom we have never even met before! We filed a few months after we stopped paying our bills.

[Fedor]

Concerning the calls to family (not worried about neighbors): If I answer and refer them to my attorney, and continue to answer if they call back, will this prevent them from contacting family? I'd like to inform certain family members of the situation, but not all, and on my own time.

Also, would this (gambling, CC advances) be an issue with the trustee or creditors? I assume creditors; how long will they typically look back? I did make 6 months of payments after withdrawals. The revolving loan was active for almost 15 years; the CC was active for about 3 years (not sure if that matters).

Has anyone been questioned about gambling? If so, what type of questions? We're talking about sports, not legal casino gambling.

Thanks for any advice.

[jkb]

We referred collectors to our attorney as well and most followed through, there were a few deadbeat collectors who further contacted family. We didn't tell family what had happened until they got the phone call. Luckily, our families know not to give out info about other family members to someone calling on the phone.

[eddiep]

Concerning the calls to family (not worried about neighbors): If I answer and refer them to my attorney, and continue to answer if they call back, will this prevent them from contacting family? I'd like to inform certain family members of the situation, but not all, and on my own time.

Also, would this (gambling, CC advances) be an issue with the trustee or creditors? I assume creditors; how long will they typically look back? I did make 6 months of payments after withdrawals. The revolving loan was active for almost 15 years; the CC was active for about 3 years (not sure if that matters).

Has anyone been questioned about gambling? If so, what type of questions? We're talking about sports, not legal casino gambling.

Thanks for any advice.

A collection agency for one of my husband's creditors called my sister in law after we gave the original creditor our attorney's name and phone number. They "thought" they were talking to my husband, I guess they didn't realize they were talking to a woman not a man? They actually disclosed how much he owed them to her! Very embarrasing.

As far as the gambling debt, do a search on this forum, I can recall another member dealing with a similar issue, although I can't recall all the details.

[DeadManCrawling]

By the way that you post, I am suspecting (and may well be wrong) that the gambling debt poses a bit larger problem in your mind.

If this is true, understand that where the debt came from is of little importance. That is no concern to the trustee, except in as far as you are honest about it.

An old internet friend used to post here all the time. Please do a search on his name. It was : catchmeifyoucan

If I am mistaken I apoogize, but if you have concerns about the gambling debts, catchmeifyoucan was in a similar position and was able to work this out.

Good luck to you in any case.

[Fedor]

DMC: Yes, the gambling is weighing heavy on my mind. I'll search for the other poster. Thanks.


The big questions now are:

Does it matter if I file 6mo / 9mo / 12mo after the last advance?

If questioned, how far does the questioning go? Like I said, I'll admit to it, but don't want to have to give details.

And what's the deal with the fire/theft/gambling within 12 months? Should this be answered with an honest 'yes', and expect to get questioned by creditors? Could they dispute that part of the debt in any way (bad faith, illegal, etc.)? How far back could they look for withdrawals/advances?


I'd like to get this process started, but don't want issues. Can I hold out until Jan? If so, that helps with getting more things in order (car repairs, etc.). But, part of me wants to get this going, and I'm a little concerned about relatives (not too concerned honestly, except my dad (a small gambler) who would blame himself for my situation). Other relatives (mom) wouldn't have issues after discussing this, and I'm not too concerned about anyone besides the parents.

Thanks all. All advice is welcomed and appreciated.

-- Fedor

[liz417]

Hi Fedor,

Welcome to this forum. I PM'ed you regarding your gambling debt.

[justplaintired]

Creditors will call repeatly. In our case we had an attorney about the time we quit paying. He took all our calls. I believe that saved us from alot of harassment. They will call, if you avoid the calls they will call family, friends, even neighbors. I couldn't deal with that, so the attorney was paid quickly to avoid those things happening. I answered every single call, gave his name, number, and what chapter.

Far as your debts go, I would definitely put time between filing and those charges.

[13inIN]

If you ran up the charges over the last year or so and they can prove that you "knew" that you could not pay them back, that constitutes fraud to some courts and will make the debt non-dischargable. I think we spent more $ defending ourselves from the accusation than I would have paid the cc company that came after us with that. Live and learn.

[aa06a47]

Here's my situation. I'd appreciate any advice.

About $80K unsecured debt; probably 30-40% (wild guess) payback expected. There are multiple reasons for the debt (mainly overspending, but excessive car/vet expenses and other reasons are the major ones; gambling would list around 5th as far as what caused the debt).
Stopped using CCs in July; stopped paying in July also.
Have an attorney, but want outside advice (more is better).

CC advances: In Jan, had 3 CC advances for about 6K (same CC), and one 3K revolving loan withdrawal. This was to pay for gambling losses. Internet sports, but with a local 'contact'; all cash transactions. Don't worry; stopped gambling then, and have no urge (after 17 years of gambling).

Will these advances be questioned? Should I file in the next couple of months, or wait until 12 months are gone (Jan 2010)?

If they are questioned, what info is needed? 'Gambling': does that cause more questions (what type, where, and most importantly, with who or what company)? I can admit to the reason, unless it will be debt that is not included in BK, but I'm not naming names.

Also, why is there a question in the pre-filing forms to list all losses from fire, theft, gambling or other casualty within the last 12 months? Seems like a strange group of items (fire/theft/gambling). How do I handle this, and what red flags will it raise?

If I decided to wait until Jan 2010, will the calls stop (and go to the attorney) for that long? Do I have to be concerned about family/neighbors getting calls?

Thanks for your time. Any information would be appreciated.

-- Fedor

You should be OK with the cash advances. You have at least 8 months past your last advance.

As far as gambling debt, the court treats that debt the same as other debt. If you had significant taxable jackpots, they may ask where the money went. Again, since you have waiting more than 6 months, those taxable wins will not play a part in the 341 meeting as it will not show as income since you have not gambles since Jan.

You probalby should wait until the first of November to file to get at least 90 days from when you last used your credit cards. That isn't necessary unless you bought some luxury items on them.

[broncho14]

I too had a gambling problem. I was honest with my attorney and it was never even brought up to me in the 341. However, the Trustee did tell us all that day that there were some people who had this issue and if it was a problem in the bankruptcy then the court could order us to go to mandatory GA Meetings. I have not gambled since and I have received treatment. One thing we did was have my payment taken out via payroll deduction. Therefore, I never see that money. It goes straight to the Trustee. I make my payments and follow the plan and life has been good.