Bankruptcy date on Wednesday

TerryandGaby · 12 July 2014 at 12:21PM

Hi all.

After my Father died in 2010, my life went off the rails somewhat. I took up drinking and gambling heavily, moved from job to job, and buried my head in the sand about the debts I had accrued. Long story short, they total around £16,000

I'm slowly getting back on track. I now have a regular job, and with the help of GA have been bet free for two months now. It was longer but I had a relapse, it is an ongoing struggle. I am determined to do this for me and my family who have suffered.

I contacted Stepchange, CAB and a local chairty for advice who advised me that with my situation bankruptcy would be the best option. We went through Income & Expenditure, all my creditors etc. I still have some worries and just wanted to share them with you all, to see if you have any advice. My bankruptcy is scheduled for this Wednesday.

On the form it asks have you lost any money betting or gambling in the last two years? I obviously have but have no idea how much - is this going to cause me huge problems in applying? Can I be rejected for this?

When I apply for the bankruptcy, I obviously have explained the reasons for my debts. I want to be upfront and honest - when I tell them I had a relapse two months ago, will this mean they believe I am still reckless and refuse my request?

I am incredibly scared about the whole thing. I realise I have to live with the consequences of what I've done, and I'm ready to do that, just dreading Wednesday! Any advice or support would be great

georgiasmum · 12 July 2014 at 1:39PM

Dear Terry and Gabby, I would say not to worry, I don't know your full circumstances and financial liabilities but they won't refuse your petition. You are being honest about what happened and are getting support for your addiction. Go forward, come here for support and start again. Experts will be along soon to help. Best wishes.

georgiasmum · 12 July 2014 at 1:44PM

I should have also said that it is ok to be scared. I was and am only now starting to relax a bit. Somebody on here said to me that we are more willing to talk about our divorces and failed relationships than our financial failings. Seems to be the last taboo, but you are not alone.

longtermplanner · 12 July 2014 at 4:38PM

TerryandGaby wrote: »

On the form it asks have you lost any money betting or gambling in the last two years? I obviously have but have no idea how much - is this going to cause me huge problems in applying? Can I be rejected for this?

When I apply for the bankruptcy, I obviously have explained the reasons for my debts. I want to be upfront and honest - when I tell them I had a relapse two months ago, will this mean they believe I am still reckless and refuse my request?

I am incredibly scared about the whole thing. I realise I have to live with the consequences of what I've done, and I'm ready to do that, just dreading Wednesday! Any advice or support would be great

hi, gambling is not a reason to refuse your bankruptcy petition. In fact it is very rare for a petition to be rejected, this article looks at the rules and you can see from that that there is no element of 'judging' that you have been stupid or anything like that: http://debtcamel.co.uk/can-i-go-bankrupt/

You will be asked about your gambling by the Official Receiver. It is possible that you may get a Bankruptcy Restriction Undertaking because gambling is often seen as having been reckless with money. But this won't make much difference to you anyway, it's not a reason not to go bankrupt if you can't repay your debts in a reasonable time.

Wednesday probably won't be as bad as you are fearing. And then you are free from this millstone.

michael1983l · 14 July 2014 at 10:27AM

I lost a lot of money through Gambling and I went BR a few weeks ago. Nothing much to worry about, I was just honest on my petition. I do however have to go in for an interview with my OR probably due to this but not too sure. The main thing is, not to worry too much about it, firstly there isn't much to worry about and secondly, if BR is the option you have been advised to take, it is kind of out of your control now. Once you are in a position where you have to go BR there is preyy much nothing you can do about it, so just roll with it and make the best out of the situation.

TerryandGaby · 14 July 2014 at 5:29PM

Hi michael, can I ask - I'm assuming you ticked the box saying you'd lost money gambling in the last two years? This was the bit that spooked me. After your OR interview, could you please post to tell me how it went? I'd really appreciate that. It's bad enough being ashamed of a gambling problem, this kind of thing just brings it all back up although I do totally understand why.

I'll post on Wednesday evening when it's gone...ridiculous I'm this nervous!

Bella_Smythe · 14 July 2014 at 5:43PM

just gone bankrupt on friday and i was scared stiff too. but it wasnt that bad. when the judge asked us a couple of questions (about my DMP) apparently i turned into ramblebella for a while but it got over with. OR phone interview Wednesday. Good luck!

michael1983l · 14 July 2014 at 5:44PM

TerryandGaby wrote: »

Hi michael, can I ask - I'm assuming you ticked the box saying you'd lost money gambling in the last two years? This was the bit that spooked me. After your OR interview, could you please post to tell me how it went? I'd really appreciate that. It's bad enough being ashamed of a gambling problem, this kind of thing just brings it all back up although I do totally understand why.

I'll post on Wednesday evening when it's gone...ridiculous I'm this nervous!

Yes I ticked the box. I will let you know how it goes after the OR interview.