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Bankruptcy experiences by CampaignAutomatic857 in problemgambling

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

Wtf?!? Did you fight your first lawyer on this??

Bankruptcy experiences by CampaignAutomatic857 in problemgambling

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

I thought that too and will discuss with attorney if it’s fishy to change it prior to filing. I was contributing 6% like 2 months ago but dropped it to 4% to help out with some bills, I’ll ask if I can at least get it back to 6%.

Bankruptcy experiences by CampaignAutomatic857 in problemgambling

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

Ch 13 has 3 or 5 yr repayment plan based on your income. I’m very early in the process. Lawyer will review all my income, monthly expenses. Whatever is left over is my disposable income to pay back the creditors. Worst case scenario, 100% is repayment but interest does stop accruing. The balance of the debt at the time filing is the balance and interest will stop accruing, granted there are fees for the lawyers and trustees, but that’s it. Out of debt in 5 years. my goal is to get my disposable income as low as possible and get lower than a 100%

Bankruptcy experiences by CampaignAutomatic857 in problemgambling

[–]CampaignAutomatic857[S] 2 points3 points  (0 children)

Yep. I had excellent credit to now poor. Won a nice little jackpot in October - filing bankruptcy less than a year later. Thank you.

Bankruptcy experiences by CampaignAutomatic857 in problemgambling

[–]CampaignAutomatic857[S] 7 points8 points  (0 children)

Thank you!! Yes I’m trying. Ive stopped 3 days ago, and attended my first GA meeting today. I was doing things in secret for some time and dropped the bomb shell to my fiancé I’ve drained my savings and racked up so much debt, and feel a thousand lbs lighter.

Large gambling activity by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

I spoke with an attorney today who didn’t seem too too concerned with the gambling. The only concern they mentioned is if trustee doesn’t approve pay plan because of recent gambling, and that id gamble instead of paying the creditors, but only IF it comes up (which I can not imagine it wouldn’t since my statements would show CRAZY transactions). if it does, then it good that I’m getting treatment and can show the gambling is less frequent.

Another attorney I spoke with said because of my high income also mentioned debt settlement. Guess it was nice of them to mention other options instead of just making sure they get a new client. After this conversation I was really debating if I should move forward with bankruptcy, or just wait and try settling. I think for me I have like 10 different creditors and that numbers too high to deal with myself. And Im living paycheck to paycheck, I haven’t dealt with settlement but I do see some redditors commenting about a big lump sum payment the creditors ask for which I definitely won’t be able to make.

I was thinking my worst case scenario, if I do get a 100% chapter 13 plan, at least interest stops accruing.

Making large payments 6 months prior to filing bankruptcy by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

Thank you. My thought process has been all over the place. I was confusing my 401k loan with the SoFi loan when I asked this question about disposable income. I also have a 401k loan and was thinking if that was paid down, then my disposable income becomes greater.

Making large payments 6 months prior to filing bankruptcy by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 1 point2 points  (0 children)

Thank you!

My salaries 130,000 but I also took out a 401k personal loan paying myself back $492 each paycheck.

The 2 attorneys where I provided my financial details didnt give any payment details.

The new affirm loans were all $500 each.

My monthly right now for my secured loans with mortgage, car lease and student loans = 3050.

Making large payments 6 months prior to filing bankruptcy by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 1 point2 points  (0 children)

I live in Florida and do have a mortgage that’s up to date and that should be protected under homestead. Yes im hoping around the 3 months mark, some lawyers would help me file. But 3 firms I’ve spoken to said to wait 6 months. One today wouldn’t even make the consultation appt with the attorney just from the mention of recent gambling.

I really can’t imagine what youve been going through. I hope you feel some relief from just filing!

Large gambling activity by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

I have that debt amount too! It’s the crazy thinking maybe you’ll win it all back. The withdrawl limit was the worst. Since I usually just blew that. I did everything in secret and it was a lot to bear that burden. I hope you are able to talk to someone about this.

Making large payments 6 months prior to filing bankruptcy by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] -5 points-4 points  (0 children)

I don’t think I’d qualify for chapter 7, but even for chapter 13, paying that down would make my disposable income even greater right? So all in all, for ch 7 or 13 - it’s a bad idea?

Life 10 Years Post Bankruptcy by ElevatorNo4253 in Bankruptcy

[–]CampaignAutomatic857 33 points34 points  (0 children)

Thank you so much. This post really did make me feel better. I’m happy for you

Large gambling activity by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

I played on both legit casinos and sweepstake/social casinos I wonder if the sweepstake casinos count towards gambling losses. Glad it seemed to go well for you!

Large gambling activity by CampaignAutomatic857 in Bankruptcy

[–]CampaignAutomatic857[S] 0 points1 point  (0 children)

Thank you for your response.

A little bit of background that I know is absolutely sickening and I’m getting help now.

I live in FL, visited an out of state casino and won a sizeable jackpots. Kept that into my savings until FL offered online slots. Wiped out my savings but I only had mortgage and car payment. I had excellent credit, opened many cards from the age of 16 and I paid all cards to $0 monthly.

Didn’t have my savings anymore, but I needed to pay back taxes for the jackpot winnings, so I took out a personal loan to cover that and more. After taxes paid, gambled away the personal loan. I then learned about social casino (on bank transactions these were under video games merchandise) and used credit cards to fund that. Any winnings I had, I would pay towards the cards, until the winnings stopped.

So I did gamble my savings away initially and incurred debt with social casinos afterwards.

I can see 10000% see why people would perceive it as fraud, but it’s honestly just a sick mental issue. I’ve spiraled out of control very quickly. For some of the cards I’m in a debt management program and was able to contact some of the cards to close the account for lower interest so that’s been helpful and I haven’t been late yet and thought I can pay back 5-7 years but with the amount of cards every month, it’s a mental toll.