www.iva.co.uk

will my iva be effected by overtime payments?
on my last 3 months bank sta tements there is gambling activity will this affect my application?

You will be entitled to retain any overtime that does not increase your net take home pay by more than 10% and the rest is split with creditors.
Gambling can be an issue as creditors may request a temporary dewbt management plan if they feel the viability is a problem. It depends on whether you tried to gamble yourself out of problems or the gambling caused the problem. It would help to get professional help from Gamblers Anonymous but also speak to an IP firm for some advice on the debts.

There are two types of gamblers, the type that can have fun and not chase their losses and the type that have a compulsive nature. Gamblers annonymous have meetings in most area's and they will do a Q & A on arrival to determine if your have traits towards compulsive. Compulsive Gambling addiction is also a progressive illness and can never be cured, only addressed with help. With less limits, speed and FOBTs (fixed odds betting terminals) plus you can gamble 24/7 with the longer opening hours and the internet, its not recommended in an IVA (or at all in my opinion) There is also no cap on gambling advertising, despite the fact alcohol and tobacco is banned. Recently Embassy tobacco was banned from sponsoring the world snooker and who do they get in its place? 888.com as a sponsor. The creditors will have problems with customers who gamble (I know one who the bank have problems with) and I completely see their point of view too.

I have recently entered an IVA and had large gambling debts which I incurred up until the day I contacted Melanie, she advised me creditors may want to see a period of non gambling and requested copies of bank statements to reassure her and them that I had stopped and alen action to address the problem it had become for me! However Mel and Claire did their best for me and my IVA was approved! I know each case is individual but I just wanted to say it is possible. Since the IVA was approved (and after my initial contact with Melanie and her team) the desire to gamble has completely gone for me, am not interested, I think I gambled to try and get myself out of a bad money situation nd made it so much worse so getting my finances under control had heled immensely! Although I didn't go to meetings, if you feel you have an issue with gambling I would advise GA, Start with their online forums... People are very supportive. If gambling is online I would also suggest self exclusion permanently and blocking software on your PC.
Good luck with your IVA if you choose that route! Best thing I ever did I think!

I used to have a problem with gambling, which I why I know so much about the subject. I went to GA before it got too far out of hand. Now I attend one meeting a month. Its a serious mental illness that does not get the recognition or attention it should like alcohol and narcotics do. But just as bad. Thankfully I have not gambled for years now. But have one or two friends that still do. They never have any money. Only winner is the bookies.

Maybe mention this to your gambling friends. My father a successful man started gambling 40 years ago, lost his house, family, friends, worked very hard in 3 jobs to keep up a gambling habit. He's 80 years old now,he still works every morning to support his habit every afternoon in the bookies. Very very sad.