Owe Casino Marker Debt In Arizona?

One of the many reasons that people love to live in and visit Arizona is how convenient it is to get to casinos here. There is also great food and music entertainment at the casinos located throughout Arizona. Once you make it to the casino, you’re probably ready to gamble. Making trips to the ATM for cash can be inconvenient, and seems to become necessary just when you are about to be on a roll. And if you’re on a losing streak instead, you probably don’t want to incur extra costs from ATM fees, or risk losing cash, especially if you’ve been drinking. Some casinos offer their patrons the option of using casino markers as an alternative to ATM trips for cash. 

Casinos markers work like checks, and a gambler is expected to have sufficient funds in their account for any casino markers they incur. Therefore, if a casino is unable to cash a casino marker due to insufficient funds, it is similar to if the customer had written a bad check. Most states have laws in place that create a presumption that the gambler had intent to defraud the casino if they didn’t have the funds in their account to match a casino marker. In some states, this is a serious enough offense to warrant time behind bars. If you fail to pay a casino marker in Las Vegas or Atlantic City, there are legal mechanisms in place to bring you back to those states and face your penalties. 

So, if you have a casino marker that you are not going to be able to repay, what options do you have? Under some circumstances, bankruptcy can provide the protections necessary for someone who can’t repay a casino marker. It also clears other debts so that you can spend less on interest, late fees, etc., and more on making actual improvements to your financial situation. Do you want to have your situation reviewed by an experienced bankruptcy professional to make sure that debts like casino markers are eligible to be discharged? Our Chandler bankruptcy firm offers phone consultations free of charge, and many of our clients qualify to file for bankruptcy with Zero Dollars Down. Get started today by calling 480-470-1504. 

Casino Marker Dischargeability

With such strict penalties for failure to pay a casino marker, it may seem like it would be difficult to discharge casino marker debt in bankruptcy. Many debts involving fraud and criminal offenses can’t be discharged by filing for bankruptcy. So a key to the dischargeability of a casino marker is whether the debtor has been arrested, charged, and convicted for failure to pay. If these events haven’t occurred, a casino marker debt is more likely to be eligible for discharge in bankruptcy. After you have been prosecuted for a bad casino marker, it will become a priority debt that ultimately must be repaid. 

The dischargeability of your casino marker debt may be the deciding factor in whether you declare bankruptcy. But if you struggle with several other debts, filing for bankruptcy could be beneficial regardless of your casino marker’s dischargeability. Imagine if you cleared all of your credit cards, medical bills, personal loans, and other debts with all of their added expenses like fees and interest, being cleared from your budget instantly. This would probably free up funds to pay expenses that you need to get by, like your mortgage or auto loan- or your casino marker, if it won’t be cleared by filing for bankruptcy. Want to review your situation with a dedicated bankruptcy professional to find out more? call 480-470-1504 for your free consultation today. 

Initial Steps Of Filing For Bankruptcy

If you owe a casino marker, you may not have much time to prepare and file a bankruptcy petition before the casino takes action against you. Filing for bankruptcy activates the automatic stay quickly, but it must be executed properly to avoid issues throughout your case. 

• Create a full and accurate list of your creditors: A good starting point here is pulling your credit report. But you may have debts that are more recent or subject to reporting restrictions that are not on your credit report but still need to be included in your creditor mailing matrix. If these creditors are omitted from your creditor mailing matrix, they will not receive notification of your bankruptcy filings. This means that they won’t be aware that they need to comply with the automatic stay and could mistakenly proceed with a collection action. There can also be additional costs associated with making amendments to any part of your bankruptcy filing. 
• Don’t wait to complete your credit counseling course: If you file for bankruptcy, you will need to complete two credit counseling courses. The first one must be completed before you file your petition. It shouldn’t take too long to complete, but you don’t want your filing to be delayed by technical issues. Your course completion certificate is valid for 180 days, or 6 months. 
• Make sure you already have your forms of identification: It is important that the name you provide on your bankruptcy petition matches the one on your social security card. You will also need this as a form of identification at your 341 Meeting of Creditors, along with a photo identification such as a driver’s license. If you are missing either of these types of identification, it can take a while to request new copies. If you don’t have them available on filing, you should request them as soon as possible afterwards, as your 341 Meeting of Creditors is typically held within 30-45 days of filing. 
• Confirm that you are eligible for the chapter that you file: You will most likely be choosing between chapter 7 and chapter 13 if you file a personal bankruptcy in Arizona. Each has its own eligibility requirements, and if you fail to meet them, your case could be dismissed. The major eligibility factor for both is your income level. Your income level is calculated using your average household monthly income from the last 6 months. You should have your paystubs available to provide in support of your bankruptcy petition. If you are unsure if your income qualifies you for your chosen bankruptcy chapter, you should have your situation evaluated by an experienced bankruptcy lawyer. 

You Can Turn Around Financial Issues Like Casino Markers- Learn More About The Bankruptcy Process Today!

Casino markers are often the tip of the iceberg of a larger debt problem.  Any type of debt contributes to a cycle that can be difficult to stop without legal intervention. Filing for bankruptcy with our experienced bankruptcy lawyers can be a solution to unmanageable debt by wiping away unsecured debts like credit cards and medical bills or providing a custom-tailored payment plan for secured and priority debts. It can also protect you from lawsuits, liens, wage garnishments, and other methods creditors may use to collect. Want to see if bankruptcy can resolve your debt issues, and if you qualify to file using our Zero Down payment option? Get started today with your free consultation- call 480-470-1504. Don’t hesitate to contact us!