www.iva.co.uk

hi,

my names luke - i am in £34k Unsecured debt - all of this is mainly due to gambling. i am paying 700 to my creditors and i pay out £600 in rent, bill etc - £1300

i only earn £20k a year but did have all my commision and overtime but this has now been taken away and i only clear £1281 per month.

i want to go bankrupt and restart my life and i will not be able to get credit for the forsibbly future which is something that will do me a favour.

MOST OF MY COMMITMENT ARE VERY NEW BUT I HAVE GAMBLED ALL THIS MONEY SO WHAT DO U RECCOMEND??

Hi Lukey -

It is just a suggestion but my first course was to call the CCCS (Consumer Credit Counselling Service). They will make an appointment with you to phone you back and then go through an "Income and Expenditure" summary (be prepared for a shock or two!!!) to work out what your options are.In my case they then sent me some very useful leaflets which go into detail about the options.

This initial contact is free and you are under no obligation to stick with CCCS. Having read the CCCS literature I then approached an IVA company to act for me.

I am no expert so dont know what if any influence gambling debts may have on your options. I would imagine that you will need to show that you have beaten your gambling issues. But - whatever - the sooner you start looking the sooner you will hopefully find a solution.

Hi Luke

I would also suggest calling for advice, the cccs is a good starting point as they are a charity, but get other opinion's also on your financial situation.
Please, please, please also get some specialist help with the gambling as it is an adiction like any other and you will need help - otherwise you could end up in the same situation again. I am no expert on this issue but would have thought your GP or Gamblers Anonymous maybe a good starting point.
Good Luck with everythng and this forum is a mine of useful information and I have found it very helpful in my situation x

hi luke and welcome to the forum, whatever route you take iva or BR they will ask that you have sought professional help for your addiction to gambling, i think this is one of the first ports of call you need to address, in BR if your debt is made mainly through gambling they will / may give you a BRu which could mean several more years of BR restrictions on you to help you beat the gambling, i am not having a go at you for gambling as it is classed as an illness/ addiction and like anything you are addicted to you need to wean your self off, i really wish you all the best, at least you have stood up and said hey i have a problem.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

Hi,

I have dealt with a few cases that involved pure gambling debt and they entered successful IVA's. In one case it was 100K and the wife knew nothing of the debt. The IVA was accepted on the proviso that the debtor sought help with his addiction and that his wages were paid into an account where he is wife was in control.

In bankruptcy, gambling debt can be frowned upon and can result in your bankruptcy being for a long period than normal.



Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

Cool hand luke...

The House aways wins....they say....

Hi Lukey

Welcome to forum ... I don't have much experience with your situation in terms of gambling I'm afraid (as one who has never even bought a lottery ticket ... but still complains about not winning!) ... but I just wanted to say a huge "well done" and give a big virtual pat on the back to you for posting to the forum as it's the first step an addressing your situation and hopefully getting a fresh start in life. We are all entitled to make a mistake ... and that's not in anyway judgemental ... but keep in touch with everyone here and I am sure you will see a way through.

Good luck

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

Hi to Jo as well ... having visited your website I anticipate that you will offer some very valuable contributions to the forum ... great to have you on board, and thank you [:)]

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

I hope so Debbie, thank you for the welcome

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk