Discharging gambling Debts

[inhocknow]

Hi Folks, I have been reading a lot on this forum and I am meeting with 2 potential attorneys on Tuesday.

I have $125000 in credit card debt. I would say about $40,000 of that debt is losses from online gambling.

I got a statement from the online gambling company stating how much I lost in the past 4 years. Someone told me that attorneys usually ask how much losses you had in the past 12 months (1 year)

Should I only get a statement from the online gambling company for the past 12 months rather then the entire 4 years?

Any advice is great.

Thank you all for your patience.

[CindyLou]

I think what you have is fine, in fact it will show even more of a history. What I think would be even more helpful to both yourself and your case is if you get yourself to some gambling anonymous meeting (if you aren't already). Make yourself up a sign in sheet...type it up on your computer...date time location ...etc. And they will stamp it when you go. You can have that will with you at your 341 just in case they ask any questions regarding rehabilitation. My brother's trustee asked him if he was getting help and if his 13 was going to solve his problem or is he would just be back in front of her for failing to follow the plan....Just a suggestion to help things go smoothly and offer you some advice for help getting through a difficult time. I Know from personal experience that gambline addiciton can be a terrible road to go down!! We are here to listen.

[sofarindebt]

We had about 65K gambling debt

and $145K debt total. Wow it still feels weird to say that, and I can't believe it is all discharged! Both or our parents would have a heart attack if they even knew we were $20K in debt!

If it is online gambling I don't see a problem, you have all the documentation.

We had no problem with our bankruptcy or discharge.

[inhocknow]

thx

[inhocknow]

Hi folks:
I meet with an attorney in about 1 hour.
Is there a place on the bankruptcy forms for me to write in how much and when I lost money gambling? What schedule is this?

Thank you for all of your help.

[HHM]

The creditor would have to object to the discharge of the gambling debt. However, if the specific charges/withdrawals are over 6 months old, the chances of an objection decrease. However, with gambling debt specifically, (especially if you are already in deep debt), creditors tend to be more aggressive about objecting.

Note, Gambling Markers CANNOT be discharged...but cash advances/charges for gambling can be discharged if enough time has passed from the date you made the charge and the date you file BK.

But nevertheless, there have been several members on this board that have been in the same boat as you, and had NO trouble getting their debt discharged even when a large percentage of that debt was due to gambling.

[inhocknow]

Hello folks again.
I forgot today was Monday and not tuesday. My appointment with the attorneys is tomorrow and not today.
I took a drive for no reason. Oh well.

Anyways folks,
with my gambling losses, will the lawyer want specific dates and amounts?
I saw on one questionnaire that the attorney asks only for the total amount of losses within the past 12 months.

That means that you do not included losses older then 12 months?

Anyone with experience with BK and gambling losses, please let me know how much detail they want and for how long? Thank you for your help.

[HHM]

The reporting of gambling losses and dealing with credit card charges for gambling are 2 different issues.

Winnings from gambling is considered income and the attorney needs to be able to offset winnings with losses. That is why the attorney is asking for your win/loss ratio.

Charges and cash withdrawals to go gambling is a different issue. That has to do with debt you incurred and whether those types of charges indicate you are trying to abuse the BK system by trying to have those debts discharged.

[inhocknow]

Thank you for your quick reponse.
In the past 12 months, I have no withdrawls from my online gambling account (winnings) only deposits (losses).

I have seen on one attorneys questionnaire that she asks for "losses" within the past 12 months.

In the past year, I have never withdrew money from my gambling acccount, I only deposited, this means that I lost $23000 in the past 12 months.

Is $23000 what needs to be reported on the attorney questionnaire?

Thank you folks!

[CATCHMEIFYOUCAN]

Hello folks again.
I forgot today was Monday and not tuesday. My appointment with the attorneys is tomorrow and not today.
I took a drive for no reason. Oh well.
Anyways folks,
with my gambling losses, will the lawyer want specific dates and amounts?
I saw on one questionnaire that the attorney asks only for the total amount of losses within the past 12 months.
That means that you do not included losses older then 12 months?
Anyone with experience with BK and gambling losses, please let me know how much detail they want and for how long? Thank you for your help.

I'm in the state of Viriginia, I'm a big gambler and still am. But I have never gotten into the On Line Scheme. Gambling is no different that using your credit for luxury items (tvs, cars, jewlry etc.) I had to state what my total lost was for the year aside from my wins. I didn't include my wins as part of my income. It was just a separate statement. The Trustee can tell by your previous tax filings what you made altogether, leave it up to him to bring the gambling up otherwise keep quiet.

Gambling was never an issue as far as my Bk went and was never brought up. Even with a $10,000 line of credit I blew within a month of getting it and than filing right within a 3 month period, it was never brought, no obejections etc.

This is based on my experience though. Best of Luck, Catchmeifyoucan.

[CindyLou]

.

Note, Gambling Markers CANNOT be discharged...but cash advances/charges for gambling can be discharged if enough time has passed from the date you made the charge and the date you file BK.

Why is that? Wouldn't it be just like any other unsecured debt?

[CATCHMEIFYOUCAN]

Note, Gambling Markers CANNOT be discharged...but cash advances/charges for gambling can be discharged if enough time has passed from the date you made the charge and the date you file BK.

Yeah, inquiry minds want to know ! ? ? ? I thought I read somewhere, someone actually filed their Marker as a debt ? ? ?

Catchmeifyoucan

[CindyLou]

And here's our ANSWER!!! Because there is a criminal penalty related to it it is not dischargeable. You can actually go to prison for not paying a marker....hmm...interetsing....sorry, kinda got this thread off on a little detour, but here's the link

http://www.reviewjournal.com/lvrj_home/2001/Jan-14-Sun-2001/news/15081091.html

about 3/4's of the way down the bottom of the article

[HHM]

Why is that? Wouldn't it be just like any other unsecured debt?

Actually, the Marker issue may only be for Nevada. The Nevada Supreme court had declared that Casino Markers are like checks, and therefore, if you pass a bad Marker (i.e. one you don't pay), the casinos can turn the Marker over to the Bad Check Division of the DA. Once bad Marker becomes a criminal mater, you can't get that marker discharged.

Anyone, the reason is something along those lines.

[CATCHMEIFYOUCAN]

Yeah, I was just doing a search on that and Marker is just like a check. Starting a Marker at a casino begins with funds from your checking account. Paying your Marker off is like writing a check to the casino etc. Interesting ...

Catchmeifyoucan