Occasional gambling win

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

richard845

User avatar
Posts: 3
Joined: Sun Aug 23, 2020 8:54 am

Post by richard845 » Sat May 22, 2021 1:00 pm
Hi , I’ve had the occasional win on the slots and bingo anything up to £500
Not every month , just occasionally !
Would that affect my Iva ??
I think I may have read my contract wrong and now I’m worried
Thanks ?

Foggy

User avatar
Forum Expert
Posts: 33038
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat May 22, 2021 1:03 pm
Wins under £500 are yours to keep, those over £500 get paid in to the IVA. Gambling in itself is not at issue, unless it becomes a problem or was a contributory factor in your debt. Funding might be an issue -- if you can afford to potentially lose, say £100 regularly, then you should, arguably, be paying this to your creditors instead.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

ajaashe

Posts: 1
Joined: Mon May 24, 2021 1:59 am

Post by ajaashe » Mon May 24, 2021 2:21 am
got it. Thanks for the good advice! I appreciate it.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”