A widow of 73 years will be ruined by playing the lottery video

Un veuf de 73 ans se ruine en jouant à la loterie vidéo

Jacques has lost his wife in 2017. To fight boredom and loneliness, the retired 73-year-old began playing video lottery. Not a very good idea for this widower, who squandered all his savings, and even debt of $ 44,000.

Before the death of his wife, Gisele, James had never been attracted to the game. He bought lottery tickets from time to time and went to the casino once or twice a year, but no more.

Thanks to the lottery, the couple had made a gain unhoped-for $ 200,000 in 2016, a sum that was providential that they have used a portion ($20,000) to repay their debts. Out of the 180 000 $ set aside, they have no property or assets and live on their modest pension… until the sudden death of Gisele.

It is at this time that James, depressed and isolated, begins to frequent the bars where he can play on video lottery terminals. He made friends among the other players, and spends more and more time in front of the machines, engulfing gradually all his savings.

In just two years, he has lost everything and is in debt of $ 44,000 in using his credit cards, a personal loan and line of credit.

To stay up to date in the payment of his debts and not to take delay, he leaves his dwelling in order to save on the rent and is hosted by a friend.

But recently, the latter has made a new joint, and was thus requested to find another solution. Unable to cope with all of its obligations, it has decided to consult experts in insolvency.

To redeem his vehicle

“Given its budget, the bankruptcy was the best solution,” says Maxime Morin, a licensed trustee in insolvency at Raymond Chabot. In fact, the monthly income of Jacques amounting to 1861 $, this sum is insufficient to fulfill the 44 000 $ in debts. “Since this is a first bankruptcy and that its financial resources will not change, because he is retired, he is eligible for a discharge of his bankruptcy in nine months “, adds Maxime Morin. By then, it will have to pay $ 225 per month, then his debt will be erased.

His car with a value of $ 4,000 being paid, it would, however, have to be seized and sold to pay creditors. To avoid losing his vehicle, Jacques must, therefore, deliver its value to the trustee. “He has not the means to pay 4000 $ in just nine months, but the bankruptcy and insolvency act allows a bankrupt, it must reimburse an asset seizable, to continue his payments after his release “, says Maxime Morin. This so what will Jacques for 17 additional months.

To prevent a relapse

This has resulted in the loss of James is his gambling problem, an addiction he developed because he felt alone and bored. “His main social network was in the bars. Also, nobody has pulled the alarm bell before it is too late, ” emphasizes Maxim Morin.

To prevent such a situation from reoccurring, the trustee has recommended to the pensioner to an assistance centre for its region. Since then, he travels regularly to the support group meetings and appears to be on track to be free of her gambling addiction.

“After the release of his bankruptcy, James risk, however, remain vulnerable. It would be preferable that it does not request a credit and that he lives only on his current income, ” said the trustee, who adds that it is also important for the retiree to pursue diligently its therapy to avoid relapse. “Because even if it does not have access to credit, he might be tempted to use the rent money, for example, to go and play,” says Maxime Morin. Caution is, therefore, fitting for James, who will have to stay alert.

His financial situation


  • Car paid: value of 4050 $

Debts consumer

  • Credit card: 12 000 $
  • Line of credit: 10 000 $
  • Personal loan: about $ 22,000

TOTAL: 44 000 $

Average net monthly earnings

  • Old age security 903 $
  • Régie des rentes du Québec: 831 $
  • Credit solidarity: 71 $
  • GST credit: $ 56 per

TOTAL: 1861 $

Monthly expenses (including rent, electricity, phone, groceries, insurance, etc): 1603 $

Share Button