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22/09/2025 3:00 pm
Hi
I am considering applying for a trust deed due to having very little money left each month due to huge interest on cards, loans etc. I would have tried to push through but my daughter has recently been diagnosed with a potentially life threatening condition. I want to get this sorted now otherwise I could find myself defaulting on all my debts.
When it comes to gambling on statements does it need to be clear for a certain period or do you have to prove you are seeking help for the issue?. I want to address now before my world potentially comes falling down.
Any help is very appreciated.
Thanks
22/09/2025 3:13 pm
Hi Jim2007,
Sorry to hear about your situation. You'll hopefully get the right help and support here, but you may also need to speak to someone directly to be able to share more details of your debts.
Firstly, a Trust Deed is one of a number of potential solutions for people with unaffordable debt. There's also DAS and bankruptcy. A lot will come down to the level of debts you have, whether you have assets, and what disposable income you might have once in an arrangement.
On the gambling point, there's no hard and fast rule as far as I'm aware. But its worth pointing out that for most arrangements, ongoing scrutiny of your bank statements will take place. Hopefully other forum members may have more specific insight, but I think if you're now struggling to pay debts, what's on your bank statement around gambling is only one of a number of factors that will be looked at.
03/10/2025 9:47 am
Hi Jim2007,
Paul is correct, there is no hard and fast rule regarding gambling on bank statements.
I've dealt with a number of cases where gambling has been present. The first thing to cover is that a debt solution is more than just dealing with debt. It should be part of an overall plan to help you get back in control of your finances.
In the most basic of terms, if your gambling is excessive, or if you are concerned that you may have a gambling problem, I would require you to sign up to gamstop and provide evidence of this, prior to allowing you to grant a Trust Deed. This is because we need to be confident that the solution will be viable and stands a reasonable chance of success.
If your gambling is occasional or not excessive (e.g. a small amount of sports bets a week at a reasonable level of expenditure), then this would not pose a problem.
As Paul mentions, there are other debt solutions available. Having gambling (whether excessive or not) on your bank statements should not prevent you from obtaining advice at this stage. Advice is usually free of charge, with no expectation of commitment, and is the first step in your journey to taking control and getting back on top of things.
07/10/2025 3:10 pm
@jim2007 Hi Jim, yes I am JIEB qualified and work in Trust Deeds and sequestrations. If you would like to discuss anything, my email is nick.smith@quantuma.com and I'd be happy to have a chat.
