Submitted by WonTon on Thu, 03/11/2010 - 09:34
Posted in
My husband has run up an extremely large (too big for us to ever pay back) credit card debt because he used the card to pay for gambling (cash advances). We are in a mess, big time. Can we get this kind of debt discharged in a bankruptcy? Thanks.
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Editor's Response
Sorry about your situation. The scenario you laid out is quite common, but there are some tricky issues involved with attempting to discharge this type of debt in bankruptcy. If the bankruptcy trustee determines that, when your husband took the cash advances for gambling, he knew he would not be able to pay back the debt, then she (or the credit card company) might ask the bankruptcy court to exempt the gambling debt from discharge under Section 523(a)(2)(A) of the bankruptcy code. That section prohibits discharge of a debt:
(2) for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by—
(A) false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.
Unfortunately, your answer will depend on the unique circumstances surrounding your husband's debt. The best advice I can give you is to contact a Massachusetts bankruptcy attorney and ask her to review your options. Most Massachusetts bankruptcy attorney offer free initial consultations. Good luck.
I have had several clients
I have had several clients successfully file for bankruptcy and have their debts discharge for this very reason. Some careful planning may be necessary to avoid litigation. But typically it should not be a problem.
Although not required by the law, in cases like your husband’s I typically advise and require the client to go to Gamblers Anonymous meetings before filing. As the Editor points out there is a problem discharging debt that your husband did not intend to pay back. However, my guess is that your husband did plan to pay the money back after winning, so there is no intent issue. You should talk to a bankruptcy lawyer about your case. Good luck.
Attorney Robert Kovacs