It is not illegal to gamble. You are certainly within your rights to gamble. However, we have been involved in a few cases in which the issue of funds gambled away immediately before filing for bankruptcy has been brought up. First, it is often difficult to show a receipt for a gambling loss, and you may need to prove that the money was actually gambled away, and not just hidden under your mattress. An additional objection by the trustee in your case may be that you have intentionally wasted assets. If the Trustee can prove that you wasted assets intentionally, this can be considered by the Court as a basis for denying a discharge. While it is difficult for the Trustee to succeed on a claim to deny a discharge, the safer answer would be to not gamble away money prior to filing for bankruptcy. If you have a large gambling loss, you may want to discuss with an attorney waiting an appropriate period of time before filing your case. If you have excess money that you will lose in bankruptcy anyway, speak with an attorney about assets that you can purchase that will not be lost in a bankruptcy. To learn more, please visit us at www.davismiles.com to schedule your free initial consultation with a bankruptcy attorney.
