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Getting A £25,000 Loan To Gamble On Football?

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jools22 | 00:37 Sun 11th Dec 2016 | Society & Culture
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I know enough about football to know that upsets do happen and nothing is certain.. but also enough to know that with patience I can find a sure cert.

Now when that match occurs what is there to stop me getting a £25,000 bank loan (in my name, not my Mrs') put bet on, it returns lets say £37,500. Pay loan off and thats £12,500 profit [enough to buy new car, take kids abroad]. Then obviously stop gambling. All sounds good yeah, why dont people do this?

Obviously now I have to think if that £25,000 bet loses... what can they do to me as I cant afford and have no intention to pay back loan... do I try go bankrupt? I live in a council house, dont have a car but wife does etc etc. If I moved out for a while, so they cant touch wifes and kids possesions?

If there are laws about gambling and bankruptcy could I not get round this by saying I took the loan out, mrs came home *** and whacked £25,000 on Man City to win. They couldnt put us both in prison, could they :S Would love to know more about this.
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Sorted!
13:52 Fri 16th Dec 2016
Do you have a good enough credit rating to get a loan that size?
an unsecured loan at that.
Question Author
yes, excellent credit rating I have took out £15,000 loan in past but that really was for home improvements that time..
I live in a council house, dont have a car but wife does etc etc. If I moved out for a while, so they cant touch wifes and kids possesions?


You spent £15,000 on home improvements on a council house !.
Potential problems
There are three sorts of possible consequences if you go bankrupt soon after borrowing money:

a prosecution for fraud. This would leave you with a criminal record and the fraudulent loan would not be wiped out by your bankruptcy. It is only likely to be considered if the evidence shows significant and deliberate deception.
Stupid is as stupid does
Question Author
wedding, honeymoon, rest on house yes.. still looking for some answers into what the law says about this.
Question Author
I can deal with fraud and a criminal record, the debt not being wiped out after bankrptcy is another thing though.
What's the point?
Question Author
To get a big sum of cash in bank account!
And you know you can find a sure cert?!
Have you been living on fantasy island for long, as it seems to me that you're in dreamland and have not got your priorities right. Apart from that, I cannot see any bank giving you that sort of money to gamble without it being secured.
Question Author
yes, like I said with patience.
I think you would end up in deep DEEP Shhhhhht x
Question Author
Im not going to tell the bank that im going to gamble it..

So not one person thinks its a good idea?

Easy, dirty money is not everyones cup of tea I guess.
//nothing is certain//
Question Author
Im trying to find out what the definition of deep deep shhht is!

6 months in the slammer?
Easy, dirty money is not everyones cup of tea I guess.


If you think that it is sooooo easy, jools why ask about it on here. Just do it.
If you are not honest with the bank, criminal deception rings a bell because they will want to know the reason for the loan.
Im no lawyer, but its probobly not a great example to the kids, being financially unstable for the future is stressfull... you could stand to lose alot all for approx 12k to buy a car that will depreciate in value the second you drive it & take the kids on a holiday. If you have good credit why not lease a new car and save for a holiday rather than take such a massive risk!

Not sure if your wife would be happy...?

Good luck to you.... x

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