A marker is a credit line from the casino that the player can use to fund their gambling. Before filing bankruptcy for gambling debts, and any other debts our advice is to always consult with an experienced consumer bankruptcy lawyer before making any moves. FCC National Bank v.
There is a difference between fraud for purposes of bankruptcy discharge and actual fraud. Combine that with horse racing and OTB, lotteries, bookies and now, internet gambling, and we have plenty of opportunities for individuals to lose their shirts. Judge Ginsberg addressed the "representation" issue in the must read Alvi case. The case law is unclear, but a good rule of thumb is that your gambling debt will be dischargeable if you subjectively believed that you would be able to repay it and tried to do so. Bankruptcy is a powerful tool.Bankruptcy code section , exceptions to discharge, contains no provision stating that gambling debts are excepted from discharge. If you have significant gambling debt, you may be wondering if it can be discharged through bankruptcy. Gambling debt, and this includes debt. Discharging Gambling Debts: 10 Points to Know There is one major Bankruptcy Code provision that creditors generally use in adversary proceedings to.