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MoneyFool
Starting Member
United Kingdom
13 Posts |
 Posted - 05 September 2012 : 22:25:47
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| I have heard about bro/bru and wonder why people get issued them. I ask because when I petition for my BR, it will become apparent to the OR that I have been wholly irresponsible by not making any attempt to pay my debts for 4 years, just wondering if I'll have extreme measures taken on me like a bro/BRU. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 05 September 2012 : 22:52:32
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Selling assets or giving them away for less than their value
Favouring one creditor over others by paying them off
Carrying on your business when you knew you were insolvent
Taking out credit knowing you couldn't pay it back
Gambling
Failing to supply goods or services which have been paid for
Not co-operating with the OR
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 |
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MoneyFool
Starting Member
United Kingdom
13 Posts |
Posted - 05 September 2012 : 23:25:03
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| Hmm, I may be guilty of favouring a creditor...prior to BR I will need to settle a logbook loan in order to keep my car, I owe about £800 to the logbook loan company, and I can't have it reposessed as it is essential for work. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 September 2012 : 09:16:53
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Hi money fool
BRO / BRU are only "awarded" in extreme cases.
prior to bankruptcy most people could say ooops, i should not have done that but..
probably less than 1% of the people that go BR get BRO / BRU. The OR / Trustees do understand the pressures and process people go thro and give a little bit of allowance.
Good Luck Richard,
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xmas baby
Average Member
537 Posts |
Posted - 06 September 2012 : 10:20:07
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Hi there,
It doesn't always necessarily mean you will get a BRU/BRO for doing something you shouldn't have done (ie. favouring one creditor over another, gambling, etc). A large proportion of my debts were incurred through gambling and I was lucky enough not to end up with a BRU. I think sometimes if you explain to the OR and, in the case of gambling, are being seen to be taking steps to combat the addiction, they look more favourably on you.
xmas baby |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 September 2012 : 12:52:10
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well said Xmas baby
glad things have turned out OK
Good Luck Richard,
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xmas baby
Average Member
537 Posts |
Posted - 06 September 2012 : 14:40:33
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Thank you Richard.
Although saying that, I was in a payment plans with a certain energy provider and was paying £20 per month to pay off an outstanding debt and because I have been late with 1 payment they have now said that I cannot continue with the plan and that I must pay the entire outstanding amount. The thing that annoys me is they have been messing me around since last September, changing the amount I owed them each time until I was totally confused and just agreed to paying the amount they stated, even though I still think the amount is wrong. I just wanted to get it over with after months of going backwards and nowhere. Well they will now have to wait for the outstanding amount as I don't have it all right now. They just all seem like crooks to me and they do everything to entice you to their supplier but once they have you as a customer they don't give a damn if you have any queries or issues with them. I wouldn't be surprised if they threaten me with debt collection agents if the remaining balance isn't paid within 30 days or less.
I am fed up and totally worn out.
xmas baby |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 September 2012 : 15:22:45
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just get the payment on a standing order for an amount, what ever the amount at least they can see that you are making payment
i am sure that you will be keeping reords of contact, if they have been that bad they wont wont dirty washing aired at court.
but at least as you have been through the process the threats are like water off a ducks back. whatever next, They should feel honoured that since you have become a member of the exclusive BR club, you have honoured them with your patronage !
Good Luck Richard,
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Why do people get BRO/BRU?
