Hello. How do gambling debts affect the ability to get an IVA to be accepted. Most but not all of my debts have been run up through gambling mostly online. Until recently I totally stopped gambling but stupidly over the last couple of months I have slipped a few times. The stress of almost losing my job sort of set me off again. I am hoping to submit paperwork for IVA but not sure if I will have to wait as the gambling will show on my bank statements for the last three months etc. Have looked into bankruptcy but it is not the option for me as I need to keep my house due to having a disabled son.
Presumably your creditors are not actually betting shops etc but credit and debit card co's.
I had £1000's showing on bank statements through investing / gambling on the stock market in failed investments and was similarly worried, but Cleardebt managed to sort my IVA ok.
It seems to be 'where you are now' rather than 'how you got there' thank the lord.
Hi Mark
I was in the same position as you, a large proportion of my debt was due to online gambling. I am in the proceed of an application. The gambling debts will not stop you getting an IVA but you will need to show you have taken steps to stop this happening again.
I finally confessed to my family (the hardest thing I have ever done) but now I have their support in beating this addiction. I have self excluded myself from all online bookmakers (you will need to ring them). You can purchase software than will block access to any gaming sites. I am recieving local couselling and also registered on gamecare website. This is support site for problem gamblers and you will get loads of support and advice similare to this site.
Hope it all works out for you, but you have to address the gambling first.
Phil
i have just had my iva proposal accepted and my circumstances were the same as yours.When My bank statements showed gambling debts and this did not cause any problems.I wouldn't try and hide the fact of how you got the debt, at least your trying to sort out the problem.
Thanks Nobby, its re-assuring to here yours went through ok. If everything goes to plan, I expect my creditors meeting will be in early May.
Fingers Croxxed
Glad to hear that you are sorting your gambling out swardean. What wonderful support you are getting as well. Good luck with that.
Mark I do agree with other posters that you need to address your gambling. IP's and creditors will want to see that you have taken steps to address the problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks Jan, everyone has been great, I know its a cliche but it really has restored my faith in human kindness. The gambling has been easier than I thought, in fact I feel like I weight has been lifted. Every day I go without builds my resolve not to go back to where I started. But I am not over confident, I know one bad day and the wheels can come spectacularly off.
A good resolve to have, but I suppose it's like any addiction. I used to smoke, and there are times when I could kill for a cigarette even though it's 13 year since I gave up.
I've managed to resist so far!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks for all your help & comments. I did attend Gamblers Anonymous for a while. However, I stopped attending due to it being to religous. I had managed to stop for a year but think the stress of nearly losing my job set me off again so to speak. Still not sure whether to wait 3 months until my bank statements are clear of gambling etc. Maybe an expert could advise.
At the end of the three months, will you be able to say that you have stopped again? If not, you will find an IVA difficult to manage as you will have to be on a strict budget.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Think the structure of the IVA is just what I need. After all someone will be watching my budget so I will not be able to without anyone seeing it. Still need someone's opinion on whether to wait for 3 months .
One of the professionals is probably best to advise you on that. I am sure there will be one of them on posting shortly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Please remember that an IVA can be stressful at times so clearly running the iva must be done hand in hand with trying to sort out the gambling problem.
You wont help anyone out by starting an IVA then going back to the gambling,but if you can ensure you wont slip back into the betting ways then perhaps the iva could help.
No addiction is easy to refrain from,thats why they are addictions.
Whats going to stop you going back to the online gambling? The reason I ask is that for many,after an IVA is set up,they actually have more cash to spend than they have had in years.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Any IP would be right to be wary of someone with a gambling habit, and would need to satisfy themselves that they corner had been turned and you would not revert back to that life. But having successfully dealt with IVAs for many ex-gamblers over the last few years, I rarely find that creditors take a moralistic attitude about how the money has been spent, they are more interested in how much of it they are going to get back.
