| T O P I C R E V I E W |
| paulsc |
Posted - 27 March 2009 : 18:45:12
I have avoided creditors for 6yrs and only been paying £1 a month to them when i could clearly pay more // how will the OR see this and want to do you think he can do about it
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| 7 L A T E S T R E P L I E S (Newest First) |
| RHB |
Posted - 28 March 2009 : 10:52:43
A BRU is an extra period of time where you are restricted in ways like not being a magistrate & applying for credit. It hasn't to do with paying money as that is a separate thing. |
| ripski |
Posted - 28 March 2009 : 08:03:38
It is Paul who is not working. I intend to work for another 18 mths before retiring.I am hoping to continue to pay the mortgage whilst up for sale and remain in property. The market makes it likely this will be for period of the bankruptcy. Then I can get a fresh start.Do you know what a BRU is?
ripski1 |
| RHB |
Posted - 28 March 2009 : 07:35:19
Your payment schedule will depend on how much income you have. If you are ne3ver going to work again though where will the mortgage arrears come from? |
| ripski |
Posted - 28 March 2009 : 05:58:04
What is a BRU? Is it the standard payment 50% of disposable income for 3yrs ? My mortgage has gone down considerably,by £300 but I am still paying this off my arrears. Will the OR take this into account when calculating. By continuing the payments I am hoping that I can remain in the property until it sells. I am just starting on the road and hope to submit papers next week.
ripski1 |
| John |
Posted - 27 March 2009 : 23:57:28
Hi
if you not returning to work at any time in the future then the only issue that you will have is when attempting to borrow £500 or more you must inform the potential lender of your BRU.
That said, that particular restriction may not necessarily be included in your BRU. And further still, without income you wouldn't get credit.
Therefore it really won't have any effect at all.
John White
England Jackman & Spacey |
| paulsc |
Posted - 27 March 2009 : 22:24:39
thank you john i understand where i stand how does a BRU effect me if your still discharged after 2 months is now on my mind as i will never work again
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| John |
Posted - 27 March 2009 : 21:35:00
Hi
well I think you will be aware that it will not count in your favour.
The question is what, if any, action can be taken. Back to the BRU scenario in that no attempt was made to repay whilst the gambling was in progress.
Of course many of us did not repay when perhaps we could have and minimum payments are not a problem even when we do have sufficient funds to repay more.
Reduced payment arrangements alongside the gambling losses will probably only go to prompt the OR to take a view that a BRU is appropriate but in all probability you will have received one anyway.
John White
England Jackman & Spacey |
