gambling debts

November 11th, 2006 by Questions

Can gambling debts be forgiven if I file bankruptcy in Canada? Are there any special conditions that apply?

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One Response to “gambling debts”



November 11, 2006 at 7:36 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:

If you file a bankruptcy in Canada you can be cleared from gambling debts. However, your creditors could potentially oppose your discharge due to the presence of behavior that cleared contributed to having to file the bankruptcy and the court may impose a penalty for this (i.e. the most common penalty I have seen is having to stay in bankruptcy for an additional 12 months, this is typically accompanied some type of payment that would have to be made to the trustee during this period, but the amount would likely vary with your ability to pay).

For more information on what you can expect you would be best advised to contact a licensed trustee in your area and he will be able to suggest how your local courts typically treat these types of situations.

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