Bankruptcy advice and questions

[Wintry]

I have worked out i have spent around £500 on gambling within 2 years.

 

How will the OR see this?? I know they may impose a BRU/BRO. Just wondered to what levels of gambling they would impose this. And for an amount like this how long this would be for. I believe the min time is a further 2 years?

 

Also as £200 + of it was deposited from a lloyds basic cash card, with no overdraft, therefore i was in credited. Is that looked upon as badly as taking it out of an overdraft or credit card? as obviously one does not actually have the money to spend, it is a debt.

 

£500 seems a small amount compared to some of the BRU/BRO bankruptcy cases i have read on the insolvency site, those peoples gambling debts were in their thousands if not more.

I am far from an addict just like the odd flutter (and have been lucky at times).

 

Anyone had a similar experience?

 

Hi Gemistar.

 

The figures you have quoted will make no difference in bankruptcy with basically no chance of a BRU or BRO, you will be fine (you should still put them down though, but the O/R /examiner would probably laugh)

[Wintry]

Hi geministar.

 

The clerk will check your forms after first asking if you have had the relevent / proper advice and then put them in front of the District Judge who then looks them over.

 

As long as they are fully completed, your circumtances explained and it is a straight forward consumer bankruptcy 'so to speak' then the Judge will not normally ask to see you. Having said this there are no guarantees as in my opinion some judges pick out a very small percentage of cases at random to see anyway.

 

Some examples of when a judge may ask to see you are -

 

* if your overall debts are relatively small in terms of bankruptcy say under £6000 to check / explore that you understand what you are doing.

 

* explore if other options may be more suitable and that they have been explained to you.

 

* housing issues if you are a homeowner to make sure you are aware of and understand any possible implications

 

If the judge does ask to see you there is no need to worry as they are polite, extremely professional and have your interests at heart with the crux of the story here being get proper advice and make sure your forms are fully completed and you will be ok.

 

Good luck.