Gambling Debt

July 25th, 2007 by Questions

If you have taken out a substantial amount of cash advances on a credit card for gambling, and even if over the years you\’ve always made regular payments each month on your cards, do trustees consider this to be fraudulent debt?

Questions

One Response to “Gambling Debt”


July 26, 2007 at 9:26 am, Barton Goth GCO Bankruptcy Trustees said:

No, the trustee isn’t going to consider that fraud, but you are at risk that your creditors will oppose your discharge as your lifestyle / choices led to the financial position you are in.

Creditors always retain the right to oppose a discharge from bankruptcy, but it is somehting that only takes place if they have a solid and defensible position. In this case it may be likely.

What is best for you to do is to contact a local trustee and explain to them in detail what has taken place.

They will then be in a much better position to suggest whether or not they believe you are a risk of a creditor doing this.

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