Bankruptcy and Gambling Debts: Can Chapter Get Rid of It?

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Gambling definition

Gambling Debts and Bankruptcy: Are They Dischargeable?

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Gambling definition bankruptcy law

Postby Tojagul В» 18.02.2020


Although prior studies have examined rates of bankruptcy in pathological gambling PG , there is only limited data regarding the clinical correlates of those with PG who declare bankruptcy due to gambling. Groups were compared on clinical characteristics, gambling severity using the Yale Brown Obsessive Compulsive Scale modified for Pathological Gambling, Gambling Symptom Assessment Scale; Clinical Global Impression — Severity scale, and time and money spent gambling and psychiatric comorbidity.

Money spent gambling did not differ significantly between groups. These preliminary results suggest that bankruptcy in PG may be associated with specific clinical differences. Treatment strategies may want to assess bankruptcy status to develop more effective treatments that take account of these clinical differences.

Most people gamble for recreational purposes without the behavior becoming a problem. Research studies, however, estimate that 0. PG is commonly associated with relationship problems 5 , 6 , employment issues 7 , and significant financial difficulties 7 - Because money is the catalyst for gambling behavior, a main financial problem that gamblers face is debt, and debt often leads to bankruptcy.

As legalized gambling has increased, so too have the rates of personal bankruptcy filings. Before , Nevada and New Jersey were the only states that had legalized forms of casino gambling In , 48 states allowed some form of legalized gambling There is little research, however, on the relationship between PG and personal bankruptcy.

According to the Gambling Impact and Behavior Study, Similarly, Breen and Zimmerman 15 found that In a replication study two years later, Breen 16 found that a higher percentage Although many individuals with PG face financial problems, the majority do not declare bankruptcy. However, bankruptcy may be an important symptom in PG because it may be a behavioral marker of a more severe variant. In order to better understand and effectively treat problem gambling, it is important to investigate the differences between individuals with PG who do and do not declare bankruptcy.

Do gamblers who declare bankruptcy have more financial difficulties or legal problems? Are they more likely to struggle with substance abuse issues? Are they more likely to stick with one type of gambling, rather than multiple forms of gambling? To answers these questions and to obtain a better grasp on the complexity of PG, this current study examined the clinical characteristics of individuals with PG who have and have not declared bankruptcy due to their gambling.

Subjects were enrolled in several clinical research trials investigating the effectiveness of pharmacotherapies and psychosocial treatments for PG 17 - Subjects with lifetime psychotic or bipolar disorders were excluded.

Other lifetime disorders were not a reason for exclusion. Subjects were recruited over an eight-year period This investigation was carried out in accordance with the Declaration of Helsinki.

All subjects provided written informed consent. In each of the clinical trials, a semistructured clinical interview was conducted on the first visit in which demographic information and current gambling behaviors were obtained e. The SDS is a three-item, reliable and valid self-report scale that assesses functioning in three areas of life: work, social or leisure activities, and home and family life.

Scores on the SDS range from 0 to A relative was designated as having an alcohol use disorder if alcohol use had caused marital, financial, social or occupational problems that were noticeable to the subject, if the relative had reported a loss of control over alcohol use to the subject, or if the family member had undergone treatment for alcohol problems.

The percentage of subjects who declared bankruptcy secondary to gambling was determined, and subjects with and without a history of bankruptcy were compared on demographic and clinical variables using Pearson chi-square, t-tests two-tailed , or Mann-Whitney test. All comparisons were two-tailed and an alpha level of. Demographic data are presented in Table 1. Individuals with PG and a bankruptcy history were significantly more likely to be single No other significant demographic differences were found.

Subjects with and without bankruptcy histories did not significantly differ with respect to gross annual income, amount of money lost during the past year, or the percentage of the annual income lost to gambling Table 2. Subjects who declared bankruptcy secondary to gambling reported a significantly earlier age at which gambling became problematic Although PG subjects with bankruptcy histories actually gambled significantly fewer hours per week They also reported greater overall psychosocial dysfunction reflected by the Sheehan Disability Scale than those without bankruptcy histories Measures of gambling severity e.

Individuals with PG and a history of bankruptcy were significantly more likely to have sought gambling treatment PG subjects with a bankruptcy history had significantly greater rates of depressive and substance use disorders Table 3.

In fact, subjects with a bankruptcy history had significantly greater rates of alcohol use disorders In this study, we explored the clinical differences between treatment-seeking pathological gamblers with and without a history of bankruptcy. Interestingly, gamblers who had declared bankruptcy did not lose a greater percentage of their income gambling or spend more time gambling than those who had never declared bankruptcy. Neither did the severity of their gambling differ from those without bankruptcy histories.

What did emerge from these data, however, was a complex picture of gamblers with an earlier age of problem gambling onset, more problems associated with their gambling e. One explanation for these findings may be that those individuals who end up declaring bankruptcy were more likely to be raised in a dysfunctional family environment due to alcohol use or gambling and gambling was used at an early age as a maladaptive coping mechanism.

Living in a maladjusted family is common for children who have a parent with an addiction 31 - Family environment plays a significant role in the development of emotional regulation skills 33 - 34 , and therefore being reared in an emotionally unsupportive home may lead to deficits in emotional processing and the development of ineffective coping skills Declaring bankruptcy for many of these individuals may have been due to this inability to cope with financial debt. One report also suggests that divorce plays a larger role than gambling in declaring bankruptcy Caputo 37 found that those who are divorced or separated have higher rates of bankruptcy Given the significant difference in marital problems between PG with bankruptcy history and those without bankruptcy, it is possible that those who have declared bankruptcy are unable to deal with marital problems and escape these difficulties through gambling.

Therefore including martial counseling in the treatment of pathological gambling may decrease the probability of bankruptcy.

We also found that those with PG who declared bankruptcy had significantly higher rates of affective disorders, substance use disorders, and daily nicotine use than those without a bankruptcy history. For example, when an individual is depressed, they become hopeless about their future and therefore may not pay bills in a timely fashion. Similar, if one is coping with a substance use disorder, they may be spending money on drugs or alcohol and not going to work, and the expense of the addiction may contribute to their financial difficulties.

Alternatively, depression and substance use disorders may have been secondary to the financial problems associated with bankruptcy. Although our data presents associations between co-occurring disorders and bankruptcy, we cannot determine from this cross-sectional study which variable preceded the other nor can we assume cause and effect.

Additional longitudinal research is needed to clarify why certain individuals with PG may be more vulnerable to declaring bankruptcy and thereby develop more effective preventive financial strategies for these individuals. To our knowledge, this is the first study to investigate the link between clinical characteristics of PG and bankruptcy.

However, there are several limitations that need to be addressed. First, our data did not examine the historical course of PG in these subjects. Therefore, it could be that those subjects who had declared bankruptcy have histories of more intensive gambling behavior which has subsided since the bankruptcy.

Longitudinal studies on this topic are therefore necessary. Second, bankruptcy status was not verified by third-parties or legal documents. Therefore, rates of bankruptcy in this sample may be underreported. Third, since a treatment-seeking sample was used, it is unclear how generalizable the results are to non-treatment seeking individuals with PG.

Fifth, the subjects were recruited over several years from a variety of venues without control groups taken from these various settings. Sixth, this study did not examine measures of impulsivity. Some research has proposed that different subtypes of gamblers e. Future research therefore should explore whether a clinical variable such as bankruptcy may be associated with greater levels of impulsivity.

Finally, family history data was obtained directly from the subject in a semi-structured interview that has not been tested for reliability or validity. No direct interviews were conducted with family members and consequently, results may accurately reflect diagnosis.

Despite the limitations, the study has multiple strengths, including the large sample of treatment-seeking pathological gamblers and the use of both self-report and clinician-administered measures with strong psychometric properties and established norms.

It is estimated that it takes between 33 to 46 good paying households to compensate for one bankruptcy To offset the loss of bankruptcy, credit cards raise interest rates and fees, primary affecting those having trouble making monthly payments. Increasing bankruptcy rates have also lead banks to have higher standards and a more rigorous screening process for loan applicants Future research should continue to explore who with PG is most vulnerable to declaring bankruptcy and where in the course of illness would prevention efforts be most useful in aborting the progression to bankruptcy.

It would also be beneficial to investigate the factors that hinder and facilitate the decision to declare bankruptcy to generate a more complete picture of PG who declare bankruptcy. Publisher's Disclaimer: This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting proof before it is published in its final citable form.

Please note that during the production process errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain. National Center for Biotechnology Information , U. Compr Psychiatry. Author manuscript; available in PMC Mar 1. Jon E. Grant , J. Odlaug , B. Author information Copyright and License information Disclaimer. Address correspondence to: Jon E.

Grant, J. Copyright notice. The publisher's final edited version of this article is available at Compr Psychiatry.

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Re: gambling definition bankruptcy law

Postby Dosar В» 18.02.2020

The distribution is so many pennies for each pound law debt. Robins Co. Before chapter 12's existence, family farmers found it difficult gambling meet the prerequisites of bankruptcy definitiion under chapters 11 or 13, often because they were unable to demonstrate sufficient income to make bankruptcy reorganization plan feasible. If other lenders such as your home or auto loan provider still article source liens on definition property, they may claim the property and force other lenders to convert your debt to unsecured debt. Consumers generally file one of two main types of bankruptcy: Http:// 7 and Chapter 13 link to one of our articles about different kinds of bankruptcy.

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Re: gambling definition bankruptcy law

Postby Vudole В» 18.02.2020

Gambling Symptom Assessment Scale Total score. Constitution grants Congress the power gamblng "establish … uniform Laws on the subject of Bankruptcies throughout the United States" U. Grant, J.

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