Gambling online whilst bankrupt?

sportswinner

A few years back i got addicted to gambling and ended up with nearly 10k credit card debt....2 years later im thinking of applying MAP..Minimal assests process? bankruptcy thing. I have no job so should be successful. They say you are bankrupt 6 months and bad credit 5 years.

However, the irony is once i got over my addiction i was able to win money in online soccer gambling. I always was winning money until i got addicted. I have plans and stats and can win money consistently. As said the problem was the addiction which i am long over...I am not here to be told about addiction problems and possible relapse but lets say I can continue to profit with planned online gambling.

If I go with the MAP will I still be able to gamble online on sports betting sites? Sure I can see the negative comments about to come here haha but technically will i be monitored and this will be blocked or not? Or would it only be blocked the 6 month period until my debts are cleared and im discharged?

I will open new basic bank account i can use whilst bankrupt and i can buy things online etc..but will they monitor my activity and call me up if they see money going onto betting websites?

Any thoughts on this thanks

magpiecottage

My thought on this is that there's no helping some people.

alltaken

There was a chap in here not so long ago that went through bankruptcy and at month 18 the insolvency service decided to launch criminal proceedings due to the credit he acquired to use for gambling. That's not to say they will do this in your case but if you're using any credit to gamble it would be wise to stop now and accept that the insolvency service may apply for a BRO/BRU depending on your case. If any debts you have are with gambling sites I'd imagine they would stop your use of them.

Whilst you may want to gamble during those 6 months, I feel it would be a terrible idea.

alltaken

Do you need to declare your income and outgoing a for a MAP?

If so surely you would be obliged to list the planned expenditure and thus inform them of the winnings as your financial affairs are not your own?

TheGardener

You live in Scotland, right? The BR process in Scotland is quite different to England so you need advice from someone who knows the Scottish system and I don't.
What little I do know is that if you are made bankrupt through a MAP but your trustee discovers you did not meet the conditions, then your case will be transferred to full administration.
I would have thought that any credit lines would be withdrawn by the betting sites wouldn't they? - if you have the cash to play - then the AIB would want to know about it wouldn't they?

sportswinner

- I already declared the debt occurred due to taking out credit cards due to a gambling addiction so they know this.

- My wins are not great as i dont have much money to play with. But I make profits through sports betting. I lost money through addictive gambling.

- I have had jobs here and there and have some savings...the bankruptcy people are aware of this but on a month to month basis when unemployed 80% of the time as only temp work my outgoings are equal to my income.

- I dont have credit lines with betting sites..as i have no credit cards active no more. I just use bank transfer....I dont know if this would be investigated and blocked if i apply bankruptcy as it will be apparent from my bank statements if they care or investigate that?


I know I can make money from football betting and even perhaps pay off parts of debt slowly over time with it. So, I wouldnt want to go bankrupt then have 0 chance of income except from unemployment allowance unless I can get full time work. Which just has not been happening for me.

Gambling has enabled me here and there to make some extra cash which is handy as benefits only 320 a month is not enough to get by on really.

So as said dont want to go bankrupt then have 0 chance to make some extra money from gambling.

Obviously full time employment is the best option for income but not as easy as sounds I also had some mental health issues preventing me from work over the years.


So situations are.

1. Dont do anything and continue to pay creditors token payment and continue gambling with view to paying debt of later and continue slowly making profits in gambling.

2. Go bankrupt and lose ability to make money from gambling.

3. Go bankrupt and still gamble to make money.

I dont know the situation regarding 2 or 3 but i am in 1 atm.

WannaBLoaded

Why go bankrupt? The statue of limitations on your credit card debt expires 6 years after your last payment

sportswinner

i pay my credit cards 1 pound per month atm due to my situation.

What happens if i stop paying them? They already moved my debt to collections agencies..

dojoman

You would have to declare your betting accounts to the OR, they will then inform the company, Betfair, BET365 etc. they in turn will close your account until you are discharged from BR. I know as this happened to me when I went BR although my BR had nothing to do with gambling.

Muhren

You have had a problem with gambling before, what makes you think that you are going to "successful" this time?

Coming from someone who has been there I think you are walking a very fine line, for your sake I hope that if you go through with the bankruptcy there are things put in place that mean that you can't gamble.

Banquo21

My OR was insistent that I close all my betting accounts down. I already had self-blocked myself but I don't know if they can check but gambling with credit or your own money is a big no-no and would probably result in further action.