| T O P I C R E V I E W |
| sott1967 |
Posted - 04 February 2009 : 14:29:31
hi,
Just been looking back through postings and it appears quite a few of you don't seem to worried about whether you get bru/bro or not because you are still discharged after 12 months from bankruptcy.
Now is it just me or are the restrictions still the same as original bankruptcy for entire length of bru/bro (if you have read my story "what a mess" you will see i am probably going to get one due to gambling). My question is if restrictions are the same ie not able move on financially to buy finer things in life new car, holidays, etc etc until bru/bro is finished then how is it beneficial when you are discharged after 12 months if you still have bru/bro in place.
Puzzled ?? |
| 15 L A T E S T R E P L I E S (Newest First) |
| xmas baby |
Posted - 06 March 2009 : 14:21:27
Hi,
In my BK petition I declared that I had incurred gambling debts, however in the posts mentioned here, it says that that only internet/phone gambling can really be scrutinised. I did withdraw most of the money whilst in the casino using the cash machine, so surely the OR would be able to trace the transactions anyway. Should I be completey honest with them if they ask or should I just say that just because I withdrew the money in the casino didn't necessarily mean I spent it all at the casino. I want to be honest, but at the same time I don't want to dig a hole for myself if I can make a bad situation sound a bit better. Any advice please?
Not sure what to do now.
xmas baby |
| pix1 |
Posted - 06 February 2009 : 00:10:18
sott,
slight correction to last reply;
Whether you get one depends on your income levels during bankruptcy as the OR must set one up before your automatic discharge IF he/she decides you should get one.
|
| pix1 |
Posted - 06 February 2009 : 00:08:52
sott,
Don't forget to look at the link I put on one of my previous posts to this topic;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/Introduction.htm
As to possibly having to pay over parts of your income even after discharge, this depends on whether you are given an income payments agreement or order. Whether you get one depends on your income levels during bankruptcy as the OR must set one up before your automatic discharge.
what they look at is whether you have any surplus income after taking off essential items of expenditure. you might be expected to lose 50 to 70% of any surplus.
if you are on no wages or a low wage you should not get an ipa/ipo.
ipa/ipo is separate to bru/bro but might happen at the same time. |
| Skippy |
Posted - 05 February 2009 : 22:05:29
I agree with Jenny - give Paul a call and hopefully he'll be able to put your mind at rest.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
| movin on |
Posted - 05 February 2009 : 21:54:00
Scott
Apologies, i didnt realise you had previously had a chat with Paul. I would definitely give Paul a call when you can.
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| Reviva UK |
Posted - 05 February 2009 : 21:48:38
Hi Scott
if you need another chat you have my number and I will hapily call you back.
take care of yourself
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
08454 751 851
Real People ..... Real Debt Solutions
www.revivauk.com |
| movin on |
Posted - 05 February 2009 : 21:32:41
Scott
You are obviously going through a really hard time trying to decide. You stress levels are no doubt going through the roof.
Have you tried to call the helpline number at the top of the page, as i too was feeling like you initially, and one call later my blood pressure have come down a little 
You could also take a look at the following link:
http://www.insolvency.gov.uk/freedomofinformation/technical/brobru.htm
Hope it helps a little
Jenny
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| sott1967 |
Posted - 05 February 2009 : 20:25:00
the fact that nobody else is responding i hope means i have it right in my summary.
i must say though without being flipent i find it amazing that unless you want to obtain credit or a certain high ranking position in society a bru/bro is pretty pointless and has little or no effect on your life (amazing in a good way of course).
However PLEASE correct me if i have it all wrong because this is going to play a MAJOR part in my decision to go bankrupt or not.
Scott |
| sahara |
Posted - 05 February 2009 : 20:00:22
Hi Scott
I think you have got it right, thats what i have been led to beleive.
My case has been transfered to someone who is trying to give me a BRU if he can get enough eveidence from the creditors.
sarah |
| sott1967 |
Posted - 05 February 2009 : 19:51:31
come on guy's have i got it right or not (my last post)
Your thoughts please
Scott |
| sott1967 |
Posted - 05 February 2009 : 17:46:07
So just to make certain i have this right and sorry if i appear to be repeating myself.
If no ipa is put in place then following the initial 12 months bankruptcy i would be discharged and even if bru/bro is given to me for say 6 years i would be able to earn as much as i like and NOT have to account for it to OR anymore and neither can any creitors chase me for previous debt. Is that correct ?
Pix13 i have 35k of debt about 80% down to gambling and all fairly recent on credit cards and a bank loan. If you take a look at my full story "i am in a mess please help" you will see more detail.
Thanks
Scott |
| sott1967 |
Posted - 04 February 2009 : 19:42:06
PHEWWWW !!
Yot got me worried for a mo, thanks for clarification
Scott |
| pix1 |
Posted - 04 February 2009 : 19:38:36
P.P.S.
Just checked back through this thread and I want to reassure you that you can earn anything you want and keep it AFTER you are discharged EVEN IF subject to a bru/bro. This is, as I said, under the heading of AFTER ACQUIRED ASSETS.
The only proviso is that IF you also get an IPA/IPO - see this link;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/Introduction.htm
your income fluctuations after discharge might cause an increase or decrease in payments.
The dream scenario in bankruptcy is
1) Early Discharge
2) no bru/bro
3) no ipa/ipo
|
| sott1967 |
Posted - 04 February 2009 : 19:38:00
Pix.
Thanks for your response.
sorry to push this but are you saying that after my discharge (12 months) i will still have to account during my extended bro/bru for all income etc and any above living expenses will still be taken off me, because this is opposite. to what others have said. |
| pix1 |
Posted - 04 February 2009 : 19:31:45
P.S. the longer you hear nothing from the OR about a bru/bro, the better and if you get the 'EDREV' Early discharge letter accompanied by the Income Payment Order Questionnaire form BEFORE the OR says anything about a possible bru/bro then you probably will not be given a bru/bro at all. People usually get their IPOQ about 6 to 7 months into bankruptcy, but this can vary.
Have you not yet gone BR?
I'd say don't mention anything about a bru/bro. Play it by ear.
Make sure, as I said before, to accurately record your LOSSES from gambling which have come from internet or telephone betting or anything where money has left your bank account/s specifically and directly for gambling.
What are your gambling losses and what is your total debt?
By the way, the bankruptcy form only asks about gambling LOSSES and only from the past 2 YEARS. |
