Gambling debt / Maximum Garnishment

blitzboy

michael1983l wrote: »

Yes and I think it is lost over time. .

Deleted User wrote: »

Thanks blitzboy; helpful as ever.

"I lost the 30k now in February"

I accept your apologies.

michael1983l

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,

lost the 30k now in February.

It seems to be over time to me.

E._Tenebris_Lux

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.

I doubt they would accept a small monthly payment rather than the full amount, but worth a try.

I also doubt you'd have much success if the betting company was forced to take you to court to recover its money as others have suggested. You'd need to argue that the betting company was irresponsible in granting you that much credit and that as a result you aren't liable for the losses, but the fact that you won money as well as lost money and the fact that you were gambling on credit over several months would likely cause this argument to fail. The courts generally take the view that punters know full well what they're doing and the betting companies can't be held liable for their losses (see this story for example: http://www.dailymail.co.uk/news/article-532012/Gambler-loses-high-court-judge-rules-2m-loss-NOT-bookmakers-fault.html).

In light of the fact that your losses of £30k vastly outweigh your income of £26k (which is just over £20k net), I think you may need to look into a drastic solution like a DMP or bankruptcy. First step is probably to speak to StepChange.

blitzboy

michael1983l wrote: »

It seems to be over time to me.

The gambling is yes, but the LOSS (which is the issue here) was in February. At the end of January the OP was in profit.

"Lost 4k in that month and paid, won 2k in December and 7k in January, lost the 30k now in February. "

Either way, it is only over a few months and not since 2007, which is the post that I was originally replying to! The one saying " If there has been no contact since 2007....."

addict

blitzboy wrote: »

The gambling is yes, but the LOSS (which is the issue here) was in February. At the end of January the OP was in profit.

"Lost 4k in that month and paid, won 2k in December and 7k in January, lost the 30k now in February. "

Either way, it is only over a few months and not since 2007, which is the post that I was originally replying to! The one saying " If there has been no contact since 2007....."

Yes, everything was lost in February. But I doubt that will help much. Anyway, thanks for answering all of you.

houseimprover

Might be worth look at GA for a bit as well?

http://gamblersanonymous.org.uk/index.php/meetings

addict

Did that already, thanks.

thewhiteavenger

E._Tenebris_Lux wrote: »

In light of the fact that your losses of £30k vastly outweigh your income of £26k (which is just over £20k net), I think you may need to look into a drastic solution like a DMP or bankruptcy. First step is probably to speak to StepChange.

What about this, op? Have you taken advice from anyone else (apart from us?)

addict

I offered them monthly payments, but they refused this and sent me a letter today, saying that I have 14 more days, before they would initiate bankruptcy proceedings. The bookmaker is not from the UK as I have learnt, but from the Channel Islands, so I think they can't get the money and I will wait for what will happen now.

exoteric

addict wrote: »

I offered them monthly payments, but they refused this and sent me a letter today, saying that I have 14 more days, before they would initiate bankruptcy proceedings. The bookmaker is not from the UK as I have learnt, but from the Channel Islands, so I think they can't get the money and I will wait for what will happen now.

This is not true - if you do indeed owe them £30k they can and will pursue you through legal action regardless of where they are based. You really need to speak to Stepchange etc to see if anything can be done, as being forced into bankruptcy is definitely something you should avoid if possible.