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Please say something to help!!! I have been extremely unlucky and lost $25,000 in gambling bets in the last 2 weeks. The money has been taken from 2 lines of credit that I have. It seems so hard to believe this money is gone and I ca’t get it back but it’s true. I think bankruptcy may be my only option.

1) What do you recommend I do to approach this situation? I take home less than $1700 per month and I own a 98 tercel which I am sure is worth less than what I am allowed under what is exempt. I have no assets other than this except furniture.

2) How long will it be before I am discharged?

3) What total costs am I looking at here to try to get rid of this debt?

They say gambling is destructive and now I know why. I feel 100% completely utterly destroyed. Please help!!!

2 Responses to “Gambling”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

immediately (see “Find A Trustee” on the left hand side of this page). Depending on how quickly you act and where you live you may be able to stop the foreclosure and/or protect some of the equity in your home.

Barton Goth, GCO Inc. Bankruptcy Trustees said...

First things first, get help. Filing a consumer proposal or a bankruptcy in Canada is not going to help you unless you deal with your addiction.

Second, when gambling is involved it is difficult to predict how things are going to progress as rules of practice vary significantly across the country. Therefore you will be best served by contacting a licensed trustee in your area to determine how your file would be impacted by the circumstances outlined.