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 BRO - Bankruptcy Restriction Order

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T O P I C    R E V I E W
madwithworry Posted - 14 October 2009 : 17:05:20
Under what circumstances is a BRO - Bankruptcy Restriction Order issued? Just read about this but unsure what it is and why is the restriction ordered? Any replies appreciated - worrying now about every little thing but just 12 days to go until court hearing. Thanks Katie
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gettingoutofdebt Posted - 14 October 2009 : 18:01:51
There is more information about BRO's at http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/bro.pdf

As for why they are implemented:

- Not co-operating with the OR including being purposefully dishonest with them
- Favouring creditors (i.e. paying some and not others)
- Taking on credit when you are already insolvent and having no way to pay it back
- Taking on credit without intending to pay it back i.e. taking a loan/CC and then declaring BR a few months later
- Declaring BR twice within a 5 yr period for similar reasons
- Debts due to gambling
- etc.
- etc.

To be honest a BRU is nothing to worry about and they are only issued in rare cases. You won't be sent to prison and it will just take a bit longer to completely end the BR restrictions.

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