Discussions about: Staking - Betfair Football Trading

[The Camel]

I don't know what people expected.

I thought we would never hear from Blatch again.

His statement is obviously full of holes but he's not run away and pretended that nothing happened.

The fact that he's posted and says he open to contact is a positive sign imo.

There is almost a 0% chance he is going to repay £80k if it's totally reliant on him getting a job.

Now he is just scrambling,trying to say/do anything to try and avoid going down for it.

What else can he do?

The only way he's going to repay the money is to get a job.

He certainly can't go and play poker to get out of it.

What kind of job is he going to get?

I'm assuming (hoping) he at least has some kind of record after this.

It will take 20 years for him to pay back.

Yes it may take 20 years.

But I really can't see any other way he can repay the money.

[bobby1]

At least out of all this mess Longines has invented a word that perfectly sums this guys actions

Dillibently

[Jon MW]

What else can he do?

The only way he's going to repay the money is to get a job.

The income from which will be used to clear the existing IVA. Unless he dilibently[1] cleared it some time ago as part of turning over a new leaf, living within his means, doing the right thing etc....






[1] typo that had to stay in.

The IVA is still current

[The Camel]

What else can he do?

The only way he's going to repay the money is to get a job.

The income from which will be used to clear the existing IVA. Unless he dilibently[1] cleared it some time ago as part of turning over a new leaf, living within his means, doing the right thing etc....






[1] typo that had to stay in.

The IVA is still current

Sorry for being ignorant, but what exactly is an IVA?

[erse]

Summary: most trades were lies, now all the money is gone (or washed)... and he will now apologise in a rather nicely presented private message. nice!

[NoflopsHomer]

I don't believe Blatch.

From looking through the spreadsheet, he started fuzzy dealings nearly from the off. Also the temerity of saying he wants to contact investors just as he's deleting them from his facebook. He has not answered a lot of serious questions and

I'm going to create a summary because the cliffnotes that someone created and are being bandied around aren't very good and miss a lot of information out and after 80 odd pages, there's a lot of crap to get through.

[Longines]

Yes it may take 20 years.

But I really can't see any other way he can repay the money.

Remortgage his parents and/or siblings house. Write him out of his parents will. He pays the mortgage. Call it a prepayment of inheritance.

[scotty77]

I don't know what people expected.

I thought we would never hear from Blatch again.

His statement is obviously full of holes but he's not run away and pretended that nothing happened.

The fact that he's posted and says he open to contact is a positive sign imo.

its a way to stall people, and a way to appear that he is sorry.

just like his claims on getting 'bar work'.  wtf is a £15k/year job gonna do to a £100k debt....after living expenses.  plus how can someone suddenly adjust from not working for a living, getting the rounds/lapdances in, chucking bags on roulette to working 8 hours/day for minimum wage.

the fact is the only way he has ANY chance of getting that kinda money together is thru betfair/poker....anyone wanna trust him with a stake?  thought not.

[damo66688]

I don't know what people expected.

I thought we would never hear from Blatch again.

His statement is obviously full of holes but he's not run away and pretended that nothing happened.

The fact that he's posted and says he open to contact is a positive sign imo.

Come on Keith be realistic here.  No one is going to see that especially from a degen

Oh and a IVA is a voluntary agreement to repay debts to companies you we money to but cannot afford to pay back, the last line before bankcruptcy

[Longines]

Sorry for being ignorant, but what exactly is an IVA?

A alternative to being declared bankrupt that has become increasingly popular in the last decade.

http://en.wikipedia.org/wiki/Individual_Voluntary_Arrangement

[Jon MW]

What else can he do?

The only way he's going to repay the money is to get a job.

The income from which will be used to clear the existing IVA. Unless he dilibently[1] cleared it some time ago as part of turning over a new leaf, living within his means, doing the right thing etc....






[1] typo that had to stay in.

The IVA is still current

Sorry for being ignorant, but what exactly is an IVA?

Individual Voluntary Arrangement (for repaying debt)

In the UK, an Individual Voluntary Arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy.

wiki for more detail http://en.wikipedia.org/wiki/Individual_Voluntary_Arrangement

[Sack it off]

Prime example of the saying "If you find yourself in a hole stop digging!"

Sounds like Blatch really should have stopped when things initially went wrong.

GL to sorting it out

[GreekStein]

I just can't see there's any way he's going to sacrifice 10 years of his life to pay back people he'll likely never see again.

Who wants to wait ten years anyway? I don't and I'm not willing to.

I would have hoped he could have borrowed the money from his family to pay back the debt and worked it off for them or had it deducted from his likely inheritance etc.

[arbboy]

if the IVA is current then he will be in breach of this on a number of counts and if the creditors/iva supervisor found out about this he would be liable to instantly be made bankrupt formally through the courts system.  

I have already highlighted one in that you have to hold a regular job with a steady income to get an IVA in the first place and show monthly payslips to your iva supervisor.  He obviously doesnt have a regular job and is therefore lying/providing false pay slips to his iva supervisor.  An IVA is a legal contract you have to go to court to finalise and an registered insolvancy pract will have to sign it on your behalf and supervise it/liasie with creditors during the 5 year repayment period.  The 2nd breach is that you cant have any savings/assets apart from i think your own home if you own it (if my understanding is correct they let you live in your home if you own providing you obviously keep up the payment plan) however any cash/liquid assets would obviously have to be paid to creditors.  You have to make a declaration of this at the start so he has obvious lied about this in 2007 or once it started he was saving cash on the side into these probably from this fund as he had no other source of income.  Either way if he had ISAs/national saving then he is in breach of his IVA.  I very much suspect he didnt have any.  But yet again his story just doesnt add up.  

[adammarkpreston]

Right he said it would be his last post in here i believe thats to run and hide imo, Also can the mods.owners find out where he logged on from egt his ip address and google it to see if its still in England or if he has buggered of with everyones money. If the police had been informed he would be arrested all ready so obviously they havnt as of yet which needs to be done. All the money he has taken of people since that £300 deposit a while ago has been stolen end of all the WSOP money he has and it wouldnt suprise me if hes on a plane outta here or allready gone sorry guys