i had a gambling problem - i spent 80k on my amex card in 48 hours. The card is in my name - i am married with 4 children - 1 is still at school - my husband does not know - i do not have any assets or cars - i am not on the mortgage - i sold all my jewellery. i have to go to court on monday. what will happen to me ?
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
Who is taking you to court? Are they going to make you bankrupt? Would that be a bad thing?
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
If you are being made bankrupt it may be difficult to justify an adjournment if you owe the money and cannot pay. You need to get urgent insolvency advice as an IP can get an order stopping the bankruptcy pending a formal offer to creditors. It would be difficult to get Amex to accept any IVA proposal as they do not like gambling.
I am surprised as I thought you could not use an Amex card to gamble so could you clarify.
If this is a hearing to make a Bankruptcy Order then given that you have no assets Bankruptcy might be the best thing for you. It will write off your debts however you still need to seek urgent advice for your gambling problem and come clean with your husband.
