Hi all I am embarrassed writing this but here goes.
I entered into a sequestrian a couple of years ago. I have about two years left of payments to my trustee.
They have recently requested 2 bank statements for my salary review but I have developed quite a bad gambling problem and scared to send them due to all the gambling transactions. I have signed up to a couple of credit cards and maxed them out aswell due to my gambling problem. I have not missed any payments and don't intend to but so scared about getting in trouble with my trustee and going to jail. Feel like there is no way out of this. Any advice would be appreciated before I phone my trustee.
Thanks in advance
Morning Peter123. No need to be embarrassed, these things happen and nobody will judge you here. However, please do consider seeking help with your gambling if you haven't already.
Most people are discharged after the first year of a sequestration (though you pay for 4 years in total) - do you know if this was the case for you too? If so, then you are not breaking any rules by gambling or taking credit - the formal restrictions around being able to take further credit end at the same time as your discharge.
Your trustee is really there now only to assess what you can afford to pay in and collect that from you. It makes it a bit more complicated if you have been gambling due to monies coming in and going out of your account, but it doesn't mean there is necessarily a problem. It is possible they could argue that you should have paid in any winnings into your bankruptcy, but to my mind if you are losing more than you are winning then that doesn't really stand up. Best just to lay it all out to them and I think it will be fine.
Thanks so much for reply Kevin.
My first GA meeting is on Thursday. I got a letter requesting my usual wage slips and bank statements. I usually just send wage slips and never had any push back.
Yes, discharged after 1 year. But 4 years of £100 a month. I recently received like annual receipt showing my how much of my £100 a month went to trustee and creditors. I have now had a letter requesting 2 bank statements so they can review my income/expenditure. I suspect this is because of my overtime and my 10% wage increase due to cost of living. I have not missed any payments with anything but have defo wasted money on gambling that could have went to creditors - trying to chase my losses. So worried that my trustee will not take kindly to this and make me pay more money for extra years or tell my creditors. I know I need to call them and explain before sending these payslips but feel ill thinking about doing it.
I can totally understand that it must be a daunting prospect having to deal with your Trustee around this issue and that you may be fearful of the consequences. If you can steel yourself and deal with it then I think you will feel better.
It is normal for bank statements to be requested and your trustee will be well aware of the increasing cost of living so may be happy to attribute your extra income to those increased costs.