Gambling debt / Maximum Garnishment

addict

Hi,

a UK betting company allowed me to bet with a credit account of 30k (don't know exactly why, but took it of course). I lost everything today. Since 2007 I think this money is enforcable, and whilst I don't understand why they offered me such a huge credit, I think I'm the one to blame here of course. What I'm wondering now is how much of my money they can take from my wages? I couldn't find a number anywhere, it's 25% in the US maximum, does anyone know the UK number for that/has advice how much I should offer them to pay back every month. I am on 26k/year at the moment.

Thanks for help,

addict

thewhiteavenger

Presumably, they would have to get a ccj on it first. Then they have a range of options of which attachment to earnings is one. The courts set this at a 'reasonable' figure.


It may be a good idea to discuss your options with National Debtline.

[Deleted User]

Are you actually being chased for the debt at the moment ? When did you last acknowledge the debt or make a payment towards it ? If there has been no contact since 2007, then the debt is statute barred and recovery of the debt is unenforceable.

blitzboy

Deleted User wrote: »

Are you actually being chased for the debt at the moment ? When did you last acknowledge the debt or make a payment towards it ? If there has been no contact since 2007, then the debt is statute barred and recovery of the debt is unenforceable.

Read it again. The OP says "I lost everything today"

michael1983l

blitzboy wrote: »

Read it again. The OP says "I lost everything today"

Yes and I think it is lost over time. There are rules regarding gambling and credit. I am pretty certain gambling with Credit Cards is forbidden but I am not sure about credit given by gambling establishments. Personally I'd be tempted to tell them to go swivel and hope that a judge looks upon the debt as irresponsibly lent to the debtor.

Gambling ruins entire families, not just the person who has the problem. I think the gambling laws in the UK need a complete overhaul to help better protect the vulnerable people who get themselves into big trouble.

dotdash79

Gambling with Credit cards isn't forbidden, in fact it's used by some sites to determine that the person is over 18.

What was the last time that you paid any money to maintain this credit account? what are the terms that the account is run under?

michael1983l

dotdash79 wrote: »

Gambling with Credit cards isn't forbidden, in fact it's used by some sites to determine that the person is over 18.

What was the last time that you paid any money to maintain this credit account? what are the terms that the account is run under?

Well I know bookmakers shops won't take them. I didn't think they did online as well but I might be wrong.

[Deleted User]

Thanks blitzboy; helpful as ever.

Muhren

michael1983l wrote: »

Well I know bookmakers shops won't take them. I didn't think they did online as well but I might be wrong.

They do take them online as that is one of the reasons I got myself into so much trouble financially.

addict

dotdash79 wrote: »

Gambling with Credit cards isn't forbidden, in fact it's used by some sites to determine that the person is over 18.

What was the last time that you paid any money to maintain this credit account? what are the terms that the account is run under?

Well, I got this account in November last year. Lost 4k in that month and paid, won 2k in December and 7k in January, of course these winnings are long gone again and I lost the 30k now in February. I know I'm the only one to blame, but I think this practice is dodgy, too.

Will wait now and see, they will ask me to pay as usual, and then I have to admit that I don't have any money left and I guess I will have to offer a monthly payment. Can't be much more than 100 quid though, which would take about 20 years to pay.

changeforbetter

addict wrote: »

Well, I got this account in November last year. Lost 4k in that month and paid, won 2k in December and 7k in January, of course these winnings are long gone again and I lost the 30k now in February. I know I'm the only one to blame, but I think this practice is dodgy, too.

Will wait now and see, they will ask me to pay as usual, and then I have to admit that I don't have any money left and I guess I will have to offer a monthly payment. Can't be much more than 100 quid though, which would take about 20 years to pay.

That always seems to be how it feels when you look at paying big debts - sometimes days, or hours, to create a debt, and years when looking to pay them off.
I'm having similar feelings about paying mine off, without having the earning power to dent it properly. To me, that is why the dept management plans seem to offer something, but only if (big if) interest can be frozen on a debt - you may be lucky there, as your debt isn't with a credit card (mine are), as they shouldn't charge interest I believe, even if you offer to pay back gradually.