Another gambling question.

[sufferingAZ]

So what happens if you have a debt due to gambling? Like bank account withdraws and a cc cash advances (with in 6 months) and you file chapter 7?

[liz417]

Time is your friend right now, you really need to let those cash advances age a little. You could seek help for your addiction, that will look good to the Trustee. Is there any reason you NEED to file for bk right now?

[sufferingAZ]

Time is your friend right now, you really need to let those cash advances age a little. You could seek help for your addiction, that will look good to the Trustee. Is there any reason you NEED to file for bk right now?

Loss of my job which paid all the credit cards. Honestly when I lost my job and knew that there was no way to pay my up coming bills the first thing I did was go and try to WIN it! LOL stupid I know. I should go seek help while I am off work. Thank you for the advice.

[HakunaMatata]

I definitely don't know the ins and outs of C7 and gambling debt. However, I observed a case while waiting for my 341. I'm unsure if the couple had used cash advances to fund their addiction (a creditor attended; although, gambling debt wasn't directly discussed). The Trustee questioned losses on past tax returns, inquired about the games and where they played, asked if they thought they were "lucky", and wanted to know their current win/loss status.

Ironically, I had the same attorney as this couple. Even more ironic, I work in the gaming industry (and one of the casinos they frequented). I had the opportunity to engage them following their 341 as we were doing the attorney team huddle. While my employer would frown upon this, I firmly and kindly reminded them casinos cater to losers.

If gambling isn't regarded exclusively as entertainment, please seek assistance. Casinos are designed to sell dreams which inevitably become nightmares. Release the fear and live in reality so you can sleep well.

Best of luck to you!

[liz417]

Even more ironic, I work in the gaming industry (and one of the casinos they frequented). I had the opportunity to engage them following their 341 as we were doing the attorney team huddle. While my employer would frown upon this, I firmly and kindly reminded them casinos cater to losers.

If gambling isn't regarded exclusively as entertainment, please seek assistance. Casinos are designed to sell dreams which inevitably become nightmares. Release the fear and live in reality so you can sleep well.

Best of luck to you!

Very true and well stated. Thank you.

[LimpDisc]

The creditor will still need to prove that you commited fraud. How much money are we talking about?

I had a $300 cash advance at a Casino in July 2009. I'm not really concerned about it at all. I say good luck to them trying to prove I commited fraud. My attorney also didn't think it would be a problem.

[sufferingAZ]

The creditor will still need to prove that you commited fraud. How much money are we talking about?

I had a $300 cash advance at a Casino in July 2009. I'm not really concerned about it at all. I say good luck to them trying to prove I commited fraud. My attorney also didn't think it would be a problem.

My cash advance or advances about 200 - 400 at a time. It has been a while maybe about 2 months before I lost my job since my last cash advance. I did have a withdraw from a casino in Oct. Oct was the last time I went and played. Scared out of my wits to ever go back!!!

[DeadManCrawling]

I would never go back, if I were you. I would also suggest putting at least six months between your Oct cash advance and filing. I am ultra-conservative and would try for even longer, but only if you can resist the gambling urge, and don't have a judgment looming. If a judgment is on the horizon, roll the dice (sorry, could not resist), and file BK.

Others will probably say 90 days, and that may well be, but I always try to do things as safely as possible. That is why I am on three years and only now preparing to file.

Best,

-dmc

[backtoschool]

Your cash advances are small enough that 90 days to six months should be enough time to wait before filing.

Any cash advances you took 90 days before filing would be defined as "intent to fraud" since technically you are insolvent 90 days before filing for bankruptcy by definition.

If the total of your cash advances is over 5k I would wait at least 6 months from the last cash advance to file. It costs a creditor about 5k to file an AP against you.

[sufferingAZ]

Thank you all so very much