August 4th, 2005 by Questions
If most of my 50K in debts to banks, credit card companies ect is due from a gambling habit can I still go bankrupt, and do it work the same as any other bankruptcy?
August 05, 2005 at 11:20 am, A licensed trustee said:
Gambling is becoming at increasing problem in Canada, and it is becoming a more significant cause of bankruptcy. You can you click here to read an article on gambling and bankruptcy.
If gambling is a significant factor in your bankruptcy, your debts will be discharged, but you will not be eligible for an automatic discharge after nine months. Your bankruptcy period will probably be extended.
Every situation is different, so we suggest you contact a licensed trustee to review your situation to determine the impact of gambling related debts in your bankruptcy.
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