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debtrider
Junior Member
494 Posts |
 Posted - 15 June 2008 : 20:39:17
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Is bankruptcy the same as a BRO/BRU. For instance if you get a BRO/BRU during bankruptcy say for 3 years, are you still discharged from bankruptcy after 12 months, but under the same restrictions as bankruptcy. In other words are you still offically discharged from bankruptcy after 12 months even if you have get a BRO/BRU.
Hope this makes sense
Debtrider |
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mst
Junior Member
254 Posts |
Posted - 15 June 2008 : 22:05:27
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Hello Debtrider,
This is the same question I had in an earlier forum and I hope that one of the experts can answer. I fear that I mau get made redundant outside of my BR period but within the period of a possible BRO/BRU. I want to know if you are still deemed to be BR during a restriction order or not?
Confused mst |
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melanie_giles
Senior Member
1191 Posts |
Posted - 15 June 2008 : 22:34:45
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Hi Debtrider
That is correct but don't forget that discharge after 12 months is not necessarily automatic, and can be suspended if the Trustee feels that you are not co-operating with his/her investigations.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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debtrider
Junior Member
494 Posts |
Posted - 16 June 2008 : 09:03:29
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Thank you for your reply Melanie.
There won't be a problem with me fully co-operating with the trustee and I am not contemplating receiving a BRO/BRU because of this. I think I may get a BRO/BRU because I have drawed money from credit cards to pay the minimum ammount on others and basically accumulated a lot of debt on them over years before realising eventually I could never pay it back. I assume this is probably the same story for a lot of people in credit card debt, so I am suprised the majority of bankupts have not ended up with a BRO/BRU. This seems to be a very grey area and no one really no knows if they will end up with a BRO/BRU.
Debtrider |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 16 June 2008 : 09:53:10
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Hi debtrider - I think you'll find a BRU/BRO is for much more serious "mis-use" of debt and that you have done the same as I did and many others before going BR.
In fact I reckon I used all my credit cards to pay my bills and withdraw cash on to pay other cards, and had two debt consolidation loans. I didn't get a BRU or BRO.
So don't worry about them! I am sure you'll be OK.
Vicki x |
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zoe
Junior Member
329 Posts |
Posted - 16 June 2008 : 11:42:33
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| How long do the OR have to tell you if you are to receive a BRU/BRO? I am to be discharged this Saturday and haven't heard that i will get one - does this mean i wont? |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 11:44:22
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Hi Zoe,
If you haven't been notified of a BRO/BRU by now, then I would say you won't get one.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Ian Richards
Junior Member
United Kingdom
296 Posts |
Posted - 16 June 2008 : 11:56:40
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Hi Zoe
I totally agree with Julian, if you were to be given a BRO you would have known by now, so well done. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
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zoe
Junior Member
329 Posts |
Posted - 16 June 2008 : 13:19:01
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| Thanks for your replies, so is there any time limits that the OR have to stick to? |
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Ian Richards
Junior Member
United Kingdom
296 Posts |
Posted - 16 June 2008 : 13:25:24
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For what......to be given a BRO?
If you are discharged this Saturday you won't be given one now.
Bankrupts usually find out at about 10 months, unless they are told before hand. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 June 2008 : 13:40:11
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Hi Zoe,
Ian's is absolutely right here. If you haven't had one by now, you won't get one!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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melanie_giles
Senior Member
1191 Posts |
Posted - 16 June 2008 : 23:11:36
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You have to be notified of this prior to discharge for it to be valid - so fingers crossed!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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abd
Junior Member
284 Posts |
Posted - 16 June 2008 : 23:23:43
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Hi
Why do they wait too long to decide on BRO/BRU?
What if the case is straightforward ,investigations done ,no complications .
Or do they see whether you continiously cooperate with them during these months?
Abd |
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melanie_giles
Senior Member
1191 Posts |
Posted - 16 June 2008 : 23:27:25
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They don't! Usually they have decided within the first six months if a restricions agreement or order is applicable. Your failure to co-operate with the Trustee would more often than not result in a suspension of discharge rather than a restrictive action against you.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
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Topic |
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Bankruptcy and BRO
