Home Forums Gambling vs Law how to declare bankruptcy?

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This topic contains 2 replies, has 3 voices, and was last updated by  Stop Gambling 2 years, 7 months ago.

  • Author
    Posts
  • #543

    Stuart
    Participant

    I think that declaring bankruptcy is the only solution in my financial situation right now, caused by gambling.
    Has anyone ever gone bankrupt?

    • This topic was modified 2 years, 7 months ago by  Stuart.
    • This topic was modified 2 years, 7 months ago by  Stuart.
  • #548

    Mark
    Participant

    I have gone bakrupt 4 years ago. I wouldn’t recommend it to you or anyone unless you really have no choice! Try to avoid it

  • #580

    Stop Gambling
    Keymaster

    You can make yourself bankrupt however much you owe or a creditor can issue a bankruptcy petition if you owe £750 or more. Bankruptcy includes most debts except: student loans, court fines, maintenance, child support, budgeting loans and crisis loans. In most cases people are discharged from their debts after one year, but If you have spare income you may have to make payments for up to three years.

    At the end of your bankruptcy most debts are written off. Bankruptcy may be a good option, particularly where you rent your home and have no assets.

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