Uk House Repossessions Solution From Debt Ange
Although most gamblers are anxious to find a way to pay off gambling debt, doing so will be ineffective until the issue of problem gambling has been overcome. This is because that person is firmly in the grip of an uncontrollable addiction. Once help has been received from Gamblers Anonymous (GA) or Gamcare, the time is now right to take steps to eliminate gambling debt. There are several effective ways to achieve this objective without going bankrupt.
The Enterprise Act and Going Bankrupt in the UK
Under current UK law, it is important to avoid bankruptcy as a way of eliminating gambling debt. This is because the Enterprise Act 2002 classifies this as a bankruptcy offence. At the discretion of the Official Receiver, the filer can be held accountable and not discharged for a period of up to 15 years.
Schedule 20 2(2)(j): "Carrying on any gambling, rash and hazardous speculation or unreasonable extravagance which may have materially contributed to or increased the extent of the bankruptcy or which took place between presentation of the petition and commencement of the bankruptcy."
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