Credit card...unpaid

What is the name of your state? New York

Foolishly I used three credit cards for gambling online.
There was a newspaper clip a while back saying that banks and credit cards companies shold not accept gambling charges on,ine especially with the casinos that are located offfshores.
Well anyway, the casinos misled the banks by presenting the charges as goods purchased even though there were no receipts nor goods received.
Nevertheless, the credit card cos kept on accepting these charges and I keep on putting money until i could not put anymore so now I owe 2,000 with one, and 4,000 with another.

If they, meaning these banks/crdit cos. take me to court, they won't have any receipts backing up the charges and also isn't it illegal for these banks to accept the charges esp these casinos are located offshorse?
I will fight them in court**************and also will mentioned I had a gambling habit.during that time.....not anymore at present.

These credit card cos keeps on harrassing me by phone at work and at home....everyday and even harrassing the recept.

Pls give me your opinion, thank you

You knew that the money was going to a casino...that's all that matters here. The credit card company isn't responsible for your gambling problem.

You got yourself into trouble with online gambling, and now you're looking for someone else to blame.

Start working out a payment arrangement.

[bigun]

To add to Gottago's post {where have you been-missed you!!!}, in 1998 President Clinton signed a telecommunications bill that allows creditors to offer electronic signatures as proof.

[JETX]

I wonder if our writer would have this same position (credit card use illegal) if he had won and they refused to credit his account.

In any case, to my knowledge, there are no statutory or regulatory restrictions on your using a valid, authorized credit card to do online gambling... even if offshore.

"Online gambling has been in murky legal waters for years. A bill that would ban online gaming is before the Congress, but its odds of passing are slim. Meanwhile, some states such as New York have moved to crack down on Internet gaming. Last month, under pressure from New York Attorney General Eliot Spitzer, Citibank, the biggest issuer of credit cards, agreed to block the use of those cards on online gaming sites."

There are however, some recent voluntary actions taken by some of the credit card issuers to ban use of their cards in this case. For example, Citibank, click on: [url]http://www.osga.com/artman/publish/article_202.shtml[/url]
And even PayPal: [url]http://news.com.com/2100-1017-943533.html?legacy=cnet&tag=pt.rss..feed.ne_20139578[/url]

Problem for you is... that this blocking is NOT retroactive.

Thanks for all your opnion....
pls advise what I should do now.....

I owed 10,000 but because of late fees and charges i now owe 14,000. (in four months, it increasd by $4,000,)
The credit card company still charges me 24% interest per annum and still charges me late fees and overthelimit fees every month.
.

I do not have assets.....i lost a lot when I had the gambling habit....I lost most of it inthe stock market....which i can declare in my income tax and can declare a loss.
But for my losses in this online casinos...which amounted to $25,000, I do not know if I can declare this in my income tax?

Pls advise.....
thanks

[JETX]

"But for my losses in this online casinos...which amounted to $25,000, I do not know if I can declare this in my income tax?"
You cannot deduct for gambling losses on your federal income tax (and probably not on any state taxes, either).

"pls advise what I should do now....."
Sorry, but since we do not have sufficient financial information on you, we really can't make up your mind for you. From your post, it sounds like you should be considering bankruptcy. Get all your financial records (debts and assets) together and talk with a bankruptcy attorney in your area. Most provide free or low-cost initial consultations.

Try going to your local Consumer Credit Counseling Service office, and ask their opinion about your financial situation. They will either be able to help, or they'll suggest bankruptcy.

Make sure you go to Consumer Credit Counseling Service, and not one of the others... not all of them are reputable.

If you're lucky, CCCS will be able to work out payment arrangements that allow you to do away with high interest, late fees, etc.

For those who aren't so far along in the process: Online gambling is a BAD THING...stay the heck away from it. You have no way of knowing if the casino is even honest...most of them aren't.

With that said, if you do find yourself in debt to an online casino, just dispute the charges within 60 days of making them. If you're persistent, you won't have to pay them. The bottom line about credit card charges is this: If the merchant doesn't have your signature, and the card wasn't present at their location when the charge was made, you'll be able to charge it back.

Back in 1999, I had a client who took a world trip that was purchased on an internet travel site. When he and the wife returned, they disputed the charge because of a few scheduling problems (nothing major). They were VERY persistent about it and didn't pay the chrage (about $10,000). In the end, it came down to the fact that a merchant without a card swipe or signature is the one who takes the biggest risk in the transaction.

[JETX]

Before you give ANY of your personal information to a 'non-profit' credit counselor (including CCCS), ask them the following:
1) Who actually funds them??
and
2) Who will have access to your personal information??

Answers:
1) They are funded by the 'enemy'... the creditors!! Who did you think gave them the big bucks it takes to operate... the tooth fairy??? Nope, the credit industry funds the 'non-profits'. Oh, and even the 'for profit' ones are full of scammers and con artists.
2) As a 'reward' for funding your favorite 'non-profit' debt consolidator (or counselors), the creditors get access to ALL your information.... even the stuff you do NOT want them to have (like current income levels, employers, where you bank, etc.).

Simply, giving them this information without some controls on it is like inviting the wolf into your hen house. If you are not careful, they can steal your eggs.