Question 8 year period not yet reached

[dealingsdone]

Hello. If you all remember I am the degenerate gambler who is once again looking at bankruptcy. My previous BK was 7 years 9 months ago. I am already in financial trouble again and have stopped paying my credit cards, but have not yet contacted an attorney. I understand there is an 8 year period between BK's, with that in mind my impression is I need to hold off on the BK filing for several more months. Is this correct and will there be a problem with that fact that I am intentionally waiting so as to accrue the 8 years necessary to commence the BK preceding?

Thank you,

Dealingsdone

[Frogge]

Hey there dealingsdone!! I was hoping you'd come back.. I'm not sure that the filing timeframe itself will be a problem, but I would expect they will look at recent history. I remember in recent posts talking about the recent cash advance... how long has it been now since you advanced on any cards?

[dealingsdone]

Hello Frogge, at this point it has been about 2.5 months since I last cash advanced. If I continue to wait until the 8 year period has come and gone it will be appoximately 5 months give or take. I must say some of my last transactions were the cash advances although I did have a few minor essential transactions after I severely damaged myself with the heavy gambling losses.

[Frogge]

Obviously as said before, I think you're going to be better off waiting until you have at LEAST 6 months behind you with the cash advances, but also I'm also concerned that with the history of previous BK and gambling history, you might get additional questions.

Someone chime in here if you have more solid advice..

[fltoo]

Intentionally waiting is not a problem. Many of us are in waiting periods for one reason or another.

[liz417]

Hi there Dealingsdone,

Are you planning to file ch 7 or 13? I think if you try for a ch 7, the creditors can challenge it and force you to repay the cash advances even if it's after the 6 month look back.
Have you started seeing a gambling specialist or do a 12 step program? You really should because it will look better to the trustee.

[lrprn]

You need to think about doing one more thing for yourself - seeking professional help to deal with your gambling addiction.

Since the majority of your debt is due to gambling, some trustees will ask if you are seeking treatment at your 341. Always best to show you are making an effort.

And the bottom line is it's a LONG 8 years until you can file again. If you continue to gamble, chances are (no pun intended) you're going to end up in owing a large amount of debt again but with no bankruptcy to save you the next time.

Do you plan to get professional help to deal with your gambling?

[JRScott]

Planning to delay filing for months is actually pretty normal in bankruptcies.

As lrprn says it might be to your benefit to attend Gamblers' Anonymous or similar program to show that you are attempting to help yourself. This would help as he says to show the trustee you are trying to fix things .

[dealingsdone]

You need to think about doing one more thing for yourself - seeking professional help to deal with your gambling addiction.

Since the majority of your debt is due to gambling, some trustees will ask if you are seeking treatment at your 341. Always best to show you are making an effort.

And the bottom line is it's a LONG 8 years until you can file again. If you continue to gamble, chances are (no pun intended) you're going to end up in owing a large amount of debt again but with no bankruptcy to save you the next time.

Do you plan to get professional help to deal with your gambling?

I realize how this is going to sound, but I don't want help with my gambling and I don't want to go to meetings just for the sake of the court.
The truth is I have no money and no credit and no potential access to credit in the foreseeable future, therefore I have no ability to gamble and that is just fine by me. I realize that my BK situation may be helped along with my personal life by attending meetings but I just am not at all in the mood. I am living a new life now and I want to leave it at that without rehashing what I have done. Don't get me wrong, I am aware of the gambling beast I have to deal with from this day forward.