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BankruptC
Senior Member
1030 Posts |
 Posted - 09 August 2008 : 12:52:20
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Hi again, CG here (ian's wife),
Ian and I keep swinging between being certain we'll get a BRU to thinking we probably won't. Although I know nobody can tell us for sure, I wondered how some of you experts might see it.
Last year, I unexpectedly had to take a year off work with our little boy (I won't go into details, but we knew I'd have to at some point, but didn't think it would be just yet). That meant I was on a much reduced salary and so we had to take out loans (around 15K) to cover my leave and to make some necesary changes to the house. We could make the payments at the time of taking out the loans. Ian was due to get a bonus at work of 7k this July and I planned to return to work full time in September. Ian's mum was going to take care of childcare for us so all would be ok (albeit tight!) financially. In March, ian's sister found out she was pregnant. As she has issues of her own, this meant that Ian's mum could no longer commit to looking after our child when I go back to work as she will need to be there to help with the new baby (ian's mum lives an hour away from us, and she was due to come to our house to look after our son, hence not being able to do both). In May, we took a holiday, paid for mostly by us, but helped out by both sets of parents. During the holiday, Ian got a call out of the blue to say this year there would be no bonuses paid! Then our boiler broke and was condemned by the gas board and we had to find 1500 for a new one. We were expecting 1500 in bank charges which would have covered this, but of course with ongoing court cases and appeals this did not come. Then, the final straw came when because of his additional needs we reluctantly had to come to the decision that I would have to reduce my hours to part time from September to be at home more with our son. So, all in all, with childcare costs, me part time, having to take a year off sooner than expected, ian's bonus and the bank charges not materialising and the boiler breaking down, we are left in trouble, hence the BR for both of us!
What do you think our chances of a BRU are? We took out extra debt and we did take a holiday, all this year, but at the time, we really and honestly thought all would be ok. Then things changed...!
Any thoughts anyone?
Thanks alot for reading!! 
CG. x
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Edited by - BankruptC on 09 August 2008 13:06:02 |
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John
New Member
United Kingdom
73 Posts |
Posted - 09 August 2008 : 13:17:03
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Hi ians
based on that evidence alone you have no chance of getting a BRU/BRO. They are given based on "dodgey" conduct prior to BR.
All of your story seems more than plausible to me and typical of how hard working families become embroiled in debt problems due to a sequence of events beyond their control.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 09 August 2008 : 13:21:19
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Hello There!
Now remember that I am no expert, all I can give you is my hunch, and that hunch is.......NO, I do not think you will be given a BRU/BRO.
What you have described sounds to me like everyday life. You rely on money, you spend, the money doesnt come.....it has happened to most of us.
Your situation is similar to mine (except we have not had a holiday, but did spend £500 in credit in May on childrens clothes and a childrens bed).
I too am now returning part-time in Sep and whilst the credit was being used, I thought that I could pay this back, now I cant and I'm going BR.
I have to pay a price for going BR, its not the easy option its cracked up to be. Do I think I'll get a BRU/BRO for racking up all my debts in the space of 2 years? No I dont, but its a risk we shall have to take.
More and more people are going BR, unable to keep up with the costs of living, being promised quick fix loans etc.
We have made mistakes and are trying to put them right. Please try not to worry too much.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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BankruptC
Senior Member
1030 Posts |
Posted - 09 August 2008 : 13:22:03
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Thanks John,
Our biggest worries are the holiday and the extra loans we took out earlier this year. As I said though, at the time, we could make the repayments and thought we would be able to do so in the future.
Will we be expected to 'evidence' things like the boiler expense and when I had to decide to go part time and when we found out about ian's bonus not materialising etc? These things are all absolutely true, but to find a paper trail to evidence them (other than the receipt for the boiler of course, which is easy) may pose a problem.
Thanks again,
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 09 August 2008 : 13:26:09
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Hi
the answer to that I can't say as the decision would be with the examiner, but it would take a thick skinned one to suspect any intended misconduct.
Explain as you have here at interview, you'll both have the same examiner so will have 2 chances to state your case. I'm sure you'll be fine.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 09 August 2008 : 13:30:18
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Thanks again both John and DM,
I should add of course that we did have large debts prior to all this happening, but this is the course of events that led to us being unable to repay them.
When I fill in our reasons on the SoA, shall I write (in a more concise and formal way) what I wrote on here or do I have to go back right to the beginning of ANY debt at all? The way I understand it, we just need to explain how things got out of hand. Am I right?
Thanks so much again!
CG. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 09 August 2008 : 13:43:49
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Section 11.1 on your SoA asks when you began to realise you could not service your debts so the story you have given here would be fine for section 11.2.
The debt itself is not what causes BR and almost everyone has used credit, it's been thrown at us for years. It's circumstances that bring about an inability to pay that causes BR.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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BankruptC
Senior Member
1030 Posts |
Posted - 09 August 2008 : 13:48:05
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Thank you so much John,
I'll look forward to showing this to ian when he gets home from work! For once I'll have something positive to tell him instead of all the extra worries I've concocted in my mind while he's been working!! (teehee)
CG. x |
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Chances of a BRU?
