| Author |
 Topic  |
|
|
Jim44
Starting Member
United Kingdom
2 Posts |
 Posted - 04 July 2011 : 23:40:06
|
Hi, Please could someone explain to me?
can I be discharged from bankrupcy and have a BRO or BRU at the same time.
I understand that when you are discharged from bankrupcy you no longer owe any debts so you'll be debt free and the BRO/BRU restrictions you from any credit for the amount of years you are in...
So what if you are discharged within the first 12months and have a BRO/BRU for 5years and you inherit some money from a relative in "say" the 3rd year can the OR take that from you..?
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 July 2011 : 06:38:06
|
Hi and welcome.
Unless you don't comply with your bankruptcy then you will be discharged in 12 months at the most even if you get a BRU/BRO.
I'm not sure, but I think that if you did come into money after that it would be yours.
Not 100% though - hopefully one of the experts can help with that.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
 |
|
|
Blackie
forum expert
United Kingdom
565 Posts |
Posted - 05 July 2011 : 10:47:28
|
Hiya Jim44
Whilst you are bankrupt, certain restrictions are placed on you such as not being able to obtain credit over £500 and not being allowed to hold a directorship. If the OR believes that you deserve a BRO after your discharge from bankruptcy, he will serve you with one from between two and fifteen years. All this simply means is that your bankruptcy restrictions, as mentioned above, will continue for the said period as above. You will not have to hand over any inheritance.
KLind regards
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
|
|
|
Jim44
Starting Member
United Kingdom
2 Posts |
Posted - 05 July 2011 : 10:56:50
|
First of all thanks for your replys..
Just to clear it up.. so if I have been discharged from bankrupcy and after I had a BRO put on me, while im still under the BRO they cannot touchthe inheritance..
Is this correct?
Also I am living in a Housing association Porperty.. could the landlord evict me because of bankrupcy, will they have rights? |
Edited by - Jim44 on 05 July 2011 10:59:45 |
|
|
|
debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 14:08:09
|
| Yes that is correct, ne thing to bear in mind though is that the date you inherit is the date the person died not when you actually receive the money |
|
|
|
Blackie
forum expert
United Kingdom
565 Posts |
Posted - 06 July 2011 : 07:43:18
|
Hi Jim44
I hope that we have answered your questions with regard to the BRU.
Strictly speaking, your landlord can evict you and it depends mainly on whether there is a bankruptcy clause on your tenancy agreement. However it is highly unlikely in the current economic client that you will be evicted. I would suggest that you study your tenancy agreement and if there is no bankruptcy clause, you should consider speaking to your landlord.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
|
|
| |
Topic |
|
What happens if you inherit money during BRO/BRU ?
