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| T O P I C R E V I E W |
| tracy_b |
Posted - 03 October 2008 : 09:15:50
Hi,
After reading banckrupt C's OR interview i think both my hubby and me will get a bro. we have large unsecured debts with nothing to show for it building up for about 15 years or so. Can one of the experts go into more detail on BRO/BRU's. what do they mean and do they affect everyday living. could i go to prison? HELP!!!!
Tracy
9th Oct and counting |
| 6 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 07 October 2008 : 18:54:16
Hi D&C
Im not sure, its pretty long but seems so much like others.
At the end of the day it would be down to the OR as to whether they would consider you for a BRU or BRO.
Its one of those questions that really only the OR would be able to offer the real answer to it.
Im sorry but i just dont know what to say other than wait and see what other add or just hang on and wait and see what the OR decides.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| dazed and confused |
Posted - 07 October 2008 : 18:43:56
Any answer to this anyone, please? |
| dazed and confused |
Posted - 03 October 2008 : 17:25:53
Dear Forum
Sorry to jump in on this thread - I too am concerned that I may get a BRU / BRO. I am currently in a DMP but will be going BR soon.
The 3 things which I am most worried about are:
1. Back in April / May time, when I realised my debts were out of control and I was really struggling to make all the minimum payments, and before BR was on my mind I must add, I transferred £1,250 onto my Egg Credit Card (there was a good interest rate offer on with Egg) to try and pay off some of my overdraft with HSBC as I was getting stung quite badly on the overdraft every month. I then transferred some of that money again onto a new RBS Basic Account and this money has since gone - some of it on living costs, some on car repairs, and the rest???
2. On advice from various companies etc. I only paid my Creditors token payments of £1 each for 3 months whilst I sought advice and tried to make up my mind what to do (I am very slow to come to a decision!!!) - I was originally going to go for an IVA, then I thought BR, and eventually entered into a DMP (it's a long story!!!) - anyway, during these 3 months I bought a plane ticket to Canada for £500, which I have subsequently lost due to Zoom Airlines going bump.
3. Some of the I & E in my DMP is incorrect, as set by the DMP provider, which leaves me with a surplus of DI after paying £407.55 into the DMP.
Will I get into trouble for the above?
Thanks in advance... |
| JulianDonnelly |
Posted - 03 October 2008 : 12:12:37
Hi Tracy,
It is quite common for people to borrow from Peter to pay Paul and so rack up a large amount of debt with nothing tangible to show for it. This is very common behaviour (especially in the current economic climate) so I doubt the OR will have an issue.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| tracy_b |
Posted - 03 October 2008 : 09:38:16
Hi C,
Thanks for the reply just got worried after reading your experiences yesterday. We owe so much money that when i eventually added it up i couldn't quite believe it. Our debts are individual and none are joint which makes it even worse.
Tracy |
| BankruptC |
Posted - 03 October 2008 : 09:35:21
No, Tracy, as long as you haven't done anything fraudulent, you won't go to prison.
Basically a BRU/BRO means that the normal BR restrictions (not being able to get credit for more than £500 without declaring your BR, not holding certain positions etc) are extended for a certain period, depending on the level of misconduct prior to or during BR.
Please try not to worry. They are relatively rare so try not to think about it unless it's mentioned about your specific case.
Hope that helps a little.
C. x |
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