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| T O P I C R E V I E W |
| Trolly-Dolly |
Posted - 19 August 2008 : 09:47:58
Well I had a look at the register and read some of the cases and now firmly believe that we will be hit with a BRU.
We incurred £24,000 of debt over 2 years. Took out credit whilst I was on maternity pay, did not budget correctly, did not take into account my new lower part-time salary, did not take into account hubbys short spells of unemployment.........
Therefore it is highly likely that one will be served on the grounds of 'took out credit whilst unable to pay it back'.
I agree that we were stupid to do all the above, but I swear before anyone that we honestly thought that we could pay back (the result of poor budgetting), all the spending was on day-to-day living expenses and statements will show that, but still I know that we will get a BRU.
What do you guys think? 
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| 5 L A T E S T R E P L I E S (Newest First) |
| jayrob |
Posted - 19 August 2008 : 17:17:16
HiGuys
We were panicing too as we have Exeter dealing with us who I have to say have been bery absentminded about the whole thing. The original person dealing with us really didn't seem to know what thay were doing. A few days ago we recieved a letter saying that rob had to go for a face to face interview after 4 months of hearing nothing (this is weds 27th aug). I went into panic mode but after speaking to John on here and on the phone am no longer worried and if they do slap a bru on rob thenit doesn't really make any difference to our life.
Try not to worry even though I know its easier said than done.
Take care
jayne |
| Trolly-Dolly |
Posted - 19 August 2008 : 11:05:02
Thanks guys,
Good to know that I am not alone!
the only thing that worries me is that we spent £1200 on my egg card and didnt make a single payment. We didnt plan that to happen, its just that the timing was soooo wrong. Once the card was maxed (within a month) we then realised that we had a problem!
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| BankruptC |
Posted - 19 August 2008 : 10:34:55
Hi DM,
I'm feeling exactly the sameway as you-panicking about getting a BRU. I too have spent hours reading through the hundreds of BRU details on the insolvency site and it actually made me think we just might NOT get one! Most of the people who had obtained further credit 'without reasonable propsect of repaying' actually took out credit while they were unable to make repayments on it. We thought we could pay, but things changed and meant we couldn't. I suppose as Jo says, we justhave to wait and see. And if we do get one, it will only be a short one, and then things can get back to normal.
In answer to your questions, your name comes off the register after discharge, the co-op cashminder gives you a debit card, and as far as I know, the contract mobile thing is up to your network provider (obviously it has to be paid for out of your disposable income, unless you can prove you need itfor work, I guess).
I'm not sure about the mortgage thing. It was one of the reasons we chose to let the house go and move into a lovely rented one (that and the fact our secured loan will be captured in the bankruptcy too and we'll be SO much better off without it!)
Take care and try not to worry,
CG (ian's better half! ) x |
| Trolly-Dolly |
Posted - 19 August 2008 : 10:01:33
Oh Jo thanks for responding so quickly. We go BR 1 week today on August 26th.
Do you know where I can read more on BRU restrictions?
Once discharged does your name still then stay on the register?
Can you get a bank account debit card?
Or a contract mobile?
Dont care about the credit as I have no intention of ever living that way again. Like you say, the old life was distressing and stressful.
What about obtaining a new deal on my mortgage whilst in a BRU?
When will you find out your fate?
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| Needafriend |
Posted - 19 August 2008 : 09:54:42
Hey DM
Thats so similar to ours, dont panic I dare say many people on here have done exactly the same.
Wait and see what they decide, the main thing is you should still get your DISCHARGE after the year, then only abide by certain rules for the time of a BRU or BRO if they put you on one.
Its just a SLAP on the hand and to make sure that you certainly learn your NO MORE CREDIT TO THAT EXTENT lesson.
It cant be anymore hassle than the situation we are in now so in aa way think of it as a blessing in disguise.
I know it can affect certain jobs and no credit over 500 and you must tell them if asked if you have ever been BANKRUPT but hey thats a small price to pay to get your life back! 
I am not sure what we will get but I can say that even though its been very stressfull trying to deal with everything, with the exception of yesterday and how i felt at home that I know that now if they give us one of those BRU's or BRO's then thats life. I have no intention of doing it again and its a way of making sure that we cant.
Have a great day, when is your court date?
TTFN
JO
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
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