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T O P I C R E V I E W
salem
Posted - 05 September 2010 : 13:22:09 Hi all, I have a few questions to ask and would appreciate your input
Firstly, I've been bankrupt for just over a month. The other day I got a letter asking me if I'd be interested in the BI of my home. Thing is, my property has charges and I'm wondering if it is worth forking out solicitors fees as the charges can force me to sell at anytime.
Secondly, How long into the BR does one get to hear if they have a BRO/BRU ? I'm hoping I'll be in the clear - I have no IPO or anything as I earn a very low wage. If I did get a BRO/BRU can I leave the UK and settle somewhere else and conduct my business from there? can I settle in Europe somewhere without having the effects of the BRO/BRU?
Thirdly (sorry last one) If I decided to trade and made a profit would that mean I would be tied to my creditors for 3 years. At the moment I have no payments being made to creditors - I would like to try and make some extra money but I'm worried about the length of time I'll be tied up to creditors.
Thanx in advance.
1 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 05 September 2010 : 14:06:15 1. You are correct that you would need to keep all of the charges on your property in the long run, perhaps you can come to some agreement for regular payments before commiting yourself to buying back the BI
2. Nor mally after a few months you would be invited to the office for a second interview. Is there any particular reason you think you might get one. You can trade in business now, you just cant be a limited company
3. or to look at it another way, would it not be nice to pay as much as possible back to your creditors whilst building ip a business that will in 3 years leave you in an excellent position for your future
