we need a cash advance

[sofarindebt]

due to recent gambling losses (i know, STUPID) we need to take about $3000 cash advance from our card. Our attorney advised us not to do this after retaining him, but we have to. Can I just put that we want to reaffirm this debt when we go to file, so they know we are not intentionally commiting fraud? I basically want to tell the trustee that I know we were going to file so I wish to reaffirm this debt. Will that make us look better?

[HHM]

After all the questions and posts you have made, I give up! I guess it's true, you can lead a horse to water, but you can't make them drink.

Certainly if you file within 70 days of making this cash advance, you will have no choice but to reaffirm, and frankly, given the amount involved, even if you filed in the next 6 months, you would have to reaffirm or face an objection to discharge.

At this point, to have a successful BK, you need to make some serious lifestyle changes to live within your means and to stop throwing away money.

[9877donna]

You first need to seek help for your gambling problem...

due to recent gambling losses (i know, STUPID) we need to take about $3000 cash advance from our card. Our attorney advised us not to do this after retaining him, but we have to. Can I just put that we want to reaffirm this debt when we go to file, so they know we are not intentionally commiting fraud? I basically want to tell the trustee that I know we were going to file so I wish to reaffirm this debt. Will that make us look better?

sofarindebt,We are all here to help and I don't mean to sound judgemental but It sounds like somebody has a gambling problem and Bankruptcy will not be the answer to your problems.You keep digging yourself deeper and deeper.You will have a very difficult time getting thru this BK.May I suggest you get the help you need so badly from a support group...
So sorry for your problems.I hope everything works out for you.
Donna

[sofarindebt]

Thanks for your responses

I know I have a problem, but we have a bigger problem, as my husband and I are both addicted. We have 3 kids under 3 and I am the worst mom in the world. When I was 18, I wanted to throw up when I lost $20 at the casino, I don't even know who I am anymore as a person. I am screwing our whole bankruptcy up and feel like I am doomed for life. My husband and I are joining a GA group this next week, if my mom can watch the kids for us while we go. I just want to die that I am doing this to my kids and our family. I don't want our bankruptcy to be dismissed. I really hope if I reaffirm this debt that it will be okay. We are not filing until June it looks like.

[storesstores]

If someone lost $100,000 in a casino a year ago, is this able to be included in BK 7?

My question is:

Are gambling losses an acceptable reason to go BK ?

[HHM]

You can't discharge casino markers (extensions of credit by the casino), but as for using credit cards to make cash advances to gamble, then it comes down to timing. If there were significant, regular cash advances within a year of you filing BK, odds are, the credit card companies would object to discharge of the debt you incurred with them. But there is no "set" rule. And I think, if you had $100,000 in debt that was all related to gambling, the U.S. trustee might get interested in pursuing and abuse of system investigation.

[sofarindebt]

You just never know.......

my attorney told me that in all the bankruptcy cases that he has done since the new law went into effect, he has had no creditor objections.

In our case, alot of our debt was related to gambling, but probably only about $15000 shows as being debited at the casino. In our case, we used our check card to gamble, then took out cash advances and deposited them in our bank account to cover our bank account losses and to pay our bills that we couldn't because we lost the money at the casino. I wonder how they would look at this.

Do you get a chance to explain yourself to the trustee? They really can't say we had no intention of paying back because we have a $450K home that we finished the basement on, refinanced and paid off about $50K of debt. Then my husband lost his job and a lot of the cash advances were to pay our $3000 mortgage and other bills. We tried to sell our house but had maybe one showing in 4 mos. Then I had to quit my job in June because I had our third child and could not afford daycare. There are lots of circumstances in which we incurred so much debt so fast, gambling only being one of them. We have just struggled this whole year trying to make our house payment and finally gave up and are not being forclosed upon.

Storesstores - you say you have $300K in unsecured debt - how much is related to gambling?

[9877donna]

I know I have a problem, but we have a bigger problem, as my husband and I are both addicted. We have 3 kids under 3 and I am the worst mom in the world. When I was 18, I wanted to throw up when I lost $20 at the casino, I don't even know who I am anymore as a person. I am screwing our whole bankruptcy up and feel like I am doomed for life. My husband and I are joining a GA group this next week, if my mom can watch the kids for us while we go. I just want to die that I am doing this to my kids and our family. I don't want our bankruptcy to be dismissed. I really hope if I reaffirm this debt that it will be okay. We are not filing until June it looks like.

sofarindebt,I am so glad to see you and hubby are going to get some help.
You have a chance to make things right for your finances and your family.
I am so hoping everything turns out for you and your family.It sounds like you are really trying to turn things around and make them right.That's great.Good Luck to you!
Also I think putting 6 months between your BK and this last cash advance is a really good idea.The more space you can put between your last transaction and your Bk filing the better.Less chance a creditor will object to discharge.
Also (if you can)Take your credit cards and chop them up if you have to so you don't use them anymore and attend your GA meetings as often as possible.I know it'll be really,really hard at first but it's so important that you go and get your family and financial future on the right track.
I'm sorry if I sounded off too much in my posts.
We are here for you sofarindebt and pulling for you and your family.

Donna

[Grace]

I do hope you find a way to get to those GA meetings. Even if you have to hire a baby sitter, do so. It's cheaper than gambling. It sounds like you might not make it if you don't set this as your number one priority.