| Author |
 Topic  |
|
JimmyChoo
Starting Member
United Kingdom
29 Posts |
 Posted - 11 February 2011 : 09:46:12
|
Dear All,
I am at wits end and am glad I have found a place to share my feelings. This is my story and some questions.
In July last year I declared myself bankrupt for 45k of credit card, personal loans, pay day loans and cheque cashing loans debts incurred to finance a 2 year drug addiction. My road ruin started 3 years ago. For the last 12 years I worked very hard at a major international conglomerate climbing up the organisation with my last job before my bankruptcy being a very senior person in the organisation. I had it all...a good career, good friendships, lovely partner. £ years ago I was introduced to drugs, I never did drugs before and never was curious, I just happened one night at a party. That night my road to ruin started...in a matter of 3 years I blew all my savings, took out loans and credit cards to finance my habit. In July after a health scare [liver problems due to excessive drug use] and fearing that I was going to loose my job due a patchy track record [people in the company gave me the benefit of the doubt after concocted story after story on fake illnesses] I decided I wanted to come clean, get counselling and get out of my addiction problem. At this point I have very few friends left as drug addiction makes you tell the most terrible lies just to get a loan for your next "hit". My only luck is that my partner has stayed with through these turbulent years.
I started counselling and I am happy to say that all is going well.Part of my process of getting out of this "personal hell" I declared bankrupt July as I no longer had a job and could not keep up with the loan, credit card payments. During the BR process I have been very open and honest on my problems and how I got into trouble. I was advised to do so as the OR's appreciate this and will find out any lies in any case, I also used this honesty in my SOA as a cleansing act. Also the NHS, my doctor and counselling services have beeQUESTION 1: Did I do the right thing? There seems to be conflicting views on telling the full story to the OR - for example on BR due to Gambling only 20% on-line traceable spend and all that.
I am happy to say that things are going well with my drug counselling and therapy and I feel reborn again, things are looking up in life especially as my partner has found a new found love and trusts me a gain. I have 6 months to go for my Discharge and so far I have heard nothing on a possible BRO/BRU. The NHS, my doctor and counselling services have been written to the OR asking if I was fully aware of my actions during my drug use, all have confirmed I was an addict of mind-altering substance abuse.QUESTION 2 Any views on whether I will face a BRO/BRU? I have been open and honest at all times with the OR.
Before declaring bankruptcy and at the zenith of my drug use, to feed my daily habit of £300-£500 a day, I took out a few pay day loans and cheque cashing loans, knowing I could not pay these back - but that is the kind of crazy stuff one does to get their next "hit". QUESTION 3 Will this lead to a BRO/BRU?
QUESTION 4 - have I done the right thing?
I apologise for my ramblings and many questions - but it is great to be able to get this off my chest and share this. I only hope that others reading this in a similar situation take courage from the fact that they are not alone in their fears, concerns and feelings.
Regards Jimmy aka "The Choo"
|
|
|
Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 11 February 2011 : 09:54:33
|
Hi and welcome to the forum.
Good for you getting your life back on track.
To answer all of your questions, yes, I do think you have done the right thing in being honest with the OR.
If you get a BRU, it just means you are under the restrictions of BR a little longer.
Keep posting, you'll find lots of support here.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
 |
|
|
JimmyChoo
Starting Member
United Kingdom
29 Posts |
Posted - 11 February 2011 : 09:58:44
|
Hi Viki,
Thank you for your reply.
As I am financially ruined and still not working will I still get discharged in 12 months even with the BRO/BRU?
I am keen to start saving but have heard terrible stories on IPA/ and IPO - is it true one can keep all earner finances after the discharge even with a BRO/BRU?
quote:
Originally posted by Viki.W
Hi and welcome to the forum.
Good for you getting your life back on track.
To answer all of your questions, yes, I do think you have done the right thing in being honest with the OR.
If you get a BRU, it just means you are under the restrictions of BR a little longer.
Keep posting, you'll find lots of support here.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
|
|
|
|
glafy
forum expert
436 Posts |
Posted - 11 February 2011 : 11:15:26
|
Hi Jimmy.
Just wanted to say welcome to the forum.
Well done in getting your life sorted. How lucky you are to have a partner stand by you through everything.
Keep looking to the future, things will get even better.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
|
|
|
debtinfo
forum expert
2826 Posts |
Posted - 11 February 2011 : 17:10:00
|
Hi Jimmy
Yes it is right to tell the OR as much as possible. You may (in fact probably will) get a BRU, This is as much to protect you as it is to protect creditors, to make it harder for you to get back into this life style. One of the things that the OR looks at when deciding how long a BRU would be is how much of a risk you pose in the future, now obviously you will have a hightened risk because of your actions in the past. BUT the OR will look at the fact that you have been getting treatment that you have cooperated fully and shown a true willingness to turn your life around, all these things work in your favour towards getting a shorter BRU.
A BRU only continues the restrictions, you will be discharged and so if you dont have an IPA by your discharge you wont get one after
Hope that helps |
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 11 February 2011 : 17:59:07
|
Hi Jimmy
I cant put it clearer or more concise than debt info has.
well done for trying to kick start your life and get back on track, Honesty is the right approach.
from what you have written you have done the right thing by going BR and starting fresh.
I wish you the best for the challenges ahead, keep focus.
you have a wonderful partner who has elected to stand with you.
RIchard |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 11 February 2011 : 18:12:11
|
Hope you get it all sorted Jimmy - well done on kicking the drugs and what a wonderful partner you have.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
|
|
|
JimmyPennywise
Starting Member
United Kingdom
21 Posts |
Posted - 20 February 2011 : 18:42:42
|
Hi All,
Thanks for you messages of support.
I have one final question for the forum. Will the BRU/BRO set out in detail my bankruptcy due to abusing drugs. I am keen to get my life back on track by going back into a good position in a large company but do not want it to be public that it was due to drugs. Will the BRO be explicit about this or more general along the line of.."obtaining credit without reasonable means to pay it back". I a very worried about this as I am keen to earn a good wage, pay taxes and save for the future.
Any advice?
quote:
Originally posted by debtinfo
Hi Jimmy
Yes it is right to tell the OR as much as possible. You may (in fact probably will) get a BRU, This is as much to protect you as it is to protect creditors, to make it harder for you to get back into this life style. One of the things that the OR looks at when deciding how long a BRU would be is how much of a risk you pose in the future, now obviously you will have a hightened risk because of your actions in the past. BUT the OR will look at the fact that you have been getting treatment that you have cooperated fully and shown a true willingness to turn your life around, all these things work in your favour towards getting a shorter BRU.
A BRU only continues the restrictions, you will be discharged and so if you dont have an IPA by your discharge you wont get one after
Hope that helps
|
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 February 2011 : 19:07:48
|
To be honest I'm not sure. BRU/O's are on a register, but I'm sure very few people know about that, less so than the insolvency register.
If you have a look at the Insolvency Service website you can find the BRU register and see how the orders are worded.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 22 February 2011 : 17:15:54
|
you can establish that an individual has a BRO / BRU as it is listed on the register
The grounds are not listed on the register against a name
if you are able to search the whole insolvency web site they do list recent BRU / BRO but these are guidance for what happened & Circumstances of the case and do not mention individuals name.
Richard |
|
|
|
JimmyPennywise
Starting Member
United Kingdom
21 Posts |
Posted - 22 February 2011 : 17:40:29
|
Hi richard,
Thanks for the answer, but to be honest I do not really understand.
When I go to the register, I can find BROs/BRUs with gambling as a reason, so far not on drugs.
Can you elucidate your answer?
quote:
Originally posted by Richard P
you can establish that an individual has a BRO / BRU as it is listed on the register
The grounds are not listed on the register against a name
if you are able to search the whole insolvency web site they do list recent BRU / BRO but these are guidance for what happened & Circumstances of the case and do not mention individuals name.
Richard
|
|
|
|
JimmyPennywise
Starting Member
United Kingdom
21 Posts |
Posted - 22 February 2011 : 17:43:30
|
All,
Some caution here, I found the BRO/BRU register and if I google the persons with the BRO/BRU they appear in the hit list 2 or 3 down!
Any comments on the fact that BRU/BROs are more public than thought?
quote:
Originally posted by JimmyPennywise
Hi richard,
Thanks for the answer, but to be honest I do not really understand.
When I go to the register, I can find BROs/BRUs with gambling as a reason, so far not on drugs.
Can you elucidate your answer?
quote:
Originally posted by Richard P
you can establish that an individual has a BRO / BRU as it is listed on the register
The grounds are not listed on the register against a name
if you are able to search the whole insolvency web site they do list recent BRU / BRO but these are guidance for what happened & Circumstances of the case and do not mention individuals name.
Richard
|
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 22 February 2011 : 17:45:48
|
There is a separate register for BRUs, which is presumably what you were looking at Jimmy. This register has the reasons for the BRU/O and the details of the person.
Hopefully Bigal or Debtinfo will pick up this post and confirm whether drugs would be mentioned.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 22 February 2011 : 17:47:24
|
we must be looking at different areas of register so cannot answer your question further
the area i am familiar with is just the register against inidivuals names BRO / BRU not causation listed.
another part of the web site list the causation of BRO / BRU but this is not linked to named individual.
Richard |
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
|
|
glafy
forum expert
436 Posts |
Posted - 22 February 2011 : 17:52:29
|
Ijust tried this and it is correct!!
[quote]Originally posted by Traceyjr
There is a separate register for BRUs, which is presumably what you were looking at Jimmy. This register has the reasons for the BRU/O and the details of the person.
Hopefully Bigal or Debtinfo will pick up this post and confirm whether drugs would be mentioned.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
|
|
|
Topic |
|
My Hell - DRUGS and Possible BRO/BRU
