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BankruptC
Senior Member
1030 Posts |
 Posted - 02 October 2008 : 16:53:37
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Hi all, I'm back!
It wasn't good. He was SUCH a nice man, but I do think we'll end up with a BRU/BRO. He says he doesn't understand where all the money's gone and how we built up such big debts over 6 years. The trouble is, we have NOTHING to show for it!! We both tried to tell him it's just gone on bits and bobs over the years, but he says there's still too much not accounted for.
He also said he'll now make a recommendation as to whether further investigations are needed, and said our BR could be extended!! I asked him if he meant a BRU and he said yes, but said it would mean we were still a Bankrupt and that we wouldn't be discharged after the year IF it happened. Is that right????
It's all scary but at least it's done now.
Oh and we get an IPA of £202 per month. Not as little as we hoped, but not horrendous either.
Aaaarghhhhh!
CG. x |
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JAH
Junior Member
United Kingdom
213 Posts |
Posted - 02 October 2008 : 17:03:32
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Hi CG,
Really glad its over for you. We are in exactly the same position as you so I think we will also get a BRU. We have a secured loan for pretty much the same amount as the mortgage with nothing to show for it.
As other people on here, and indeed yoursef have said, what's the worst that can happen? You don't get credit for a bit longer? I think you know the answer to that.
Myself and my husband are going to Court on 13th October so still have it all to go through - no doubt you will be there for me as you have been before.
Go and have a big glass of wine now!
Jayne x |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 02 October 2008 : 17:10:47
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Glad its over for you - I dont want to be nosy or anything and dont reply if you think I'm being cheeky, but what amounts were involved, im in court in 2 weeks and things total 35k over about 7/8 years. You have me worried now.
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BankruptC
Senior Member
1030 Posts |
Posted - 02 October 2008 : 17:14:27
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Thanks JAH! Of course we'll be here for you when you need us! :-)
Getting there,
We're talking more than that. We had a similar amount of unsecured, but we've consolidated it all a few times, so we've actually spent it all more than once if you're with me. It added up to a large amount! I nearly died when he told me the figure! If that's the total of yours and you can account for it, you should be ok in that respect.
C. x |
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JAH
Junior Member
United Kingdom
213 Posts |
Posted - 02 October 2008 : 17:16:30
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CG,
As I just said, that's EXACTLY the same situation as us, plus the credit cards. OMG I'm really not looking forward to it now.
Trouble is, I can't remember what consolidation loan was when?
I think I'm going to have a glass of wine tonight to calm my nerves and I haven't even been to Court yet!
x |
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BankruptC
Senior Member
1030 Posts |
Posted - 02 October 2008 : 17:21:04
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Try not to worry, JAH. I'm sure it all depends on the examiner in question. Ours just kept asking over and over, 'and what did you spend that on?' 'How much exactly did you spend on that?' etc and we didn't know.
I'm sure you'll be fine. Just try to rack your brains now and make some notes on where all the money went if you can. He said it would help our case if we could do that.
Take care hon and try not to worry unduly. Take it a step at a time.
C. x |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 02 October 2008 : 18:01:05
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Hi BC
Im glad its over for you both now.
So long as you all take care of each other you have the most precious things that money cannot buy.
Jenny
xx
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 02 October 2008 : 19:30:49
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Well done CG! 
I know you're a bit worried about a BRO, but you have the hardest part out of the way now, so try not to be.
My OR interview is tomorrow at 14pm, and I've been trying to figure out where all my money went too, but what I can't remember I can't tell them. Its only when I actually go through the numbers that I realise what a fool I've been in the past, I don't really see how I could be any worse than I was. But we've all got to learn from our mistakes, and I think we punish ourselves more than the OR's office could ever do!
Anyway, have a nice evening and take your mind off it all, you deserve it.
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soscared
Junior Member
United Kingdom
229 Posts |
Posted - 02 October 2008 : 19:35:18
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i'm the same nothing to show for it, dont know where it went, loans credit cards, consolidation, another credit card loan etc etc.
thing is you could not go into a bank at one time without i see you have a loan and a credit card with us mrs.... have you thought about making them into just 1 mthly pymt and what about any improvements you need or holiday or some spare cash....so the banks just sell sell sell and i know cos i used to work for one years ago.
i know at the end of the day we all sign the dotted line but everything at one time was too easy,, |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 October 2008 : 19:41:36
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Well done BC on getting that part over and done with.
I know like you that when asked its not possible to remember exactly where all the money went but hey like we all have said if you do a BRU or BRO its only 3 letters and as we dont want to get any more credit its not the end of the world.
Chill out and relax tonight and try and get over your flu, thats the worst bit over now, and its time to get on with your new status, A DEBT FREE LIFE.
Take care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriend's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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BankruptC
Senior Member
1030 Posts |
Posted - 02 October 2008 : 21:52:26
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Thanks all,
Sorry I'm being a bit awol this evening-I have to say I'm a bit shell-shocked about what's happened today. I still don't understand what he meant when he said we could have restrictions put on us that mean we would still be bankrupt. I also can't get my head round just on what grounds they could give us a BRU. He said he accepts we didn't take out credit without means to repay, but said he has a problem with the level of debt over the 6 years. Can anyone shed any light at all? We could do with a bit of reassurance really...
C. x |
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Nat
Junior Member
367 Posts |
Posted - 02 October 2008 : 21:54:01
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Hi BC
Hope you are feeling okay now? Hopefully your feeling like a big weight has been lifted now.
Well done!!
Nat
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BankruptC
Senior Member
1030 Posts |
Posted - 02 October 2008 : 21:58:52
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I just posted before you did I think Nat. Thanks for the message, hon. Just feeling fed up at the mo. I'll bounce back though :-)
C. x |
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John
New Member
United Kingdom
73 Posts |
Posted - 02 October 2008 : 22:04:48
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Hi BC
if you have a BRU/BRO then you remain under the restrictions for it's duration therefore you will not be discharged until the end of the BRU/BRO.
You may be getting confused with the conditions of an IPA, under which you are still discharged after 12 months even though the IPA lasts 3 years..
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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tracy_b
Junior Member
United Kingdom
457 Posts |
Posted - 02 October 2008 : 22:10:26
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Hi BC,
Glad you got the interview over and done with and hopefully it wont end up as bad as you think when the or sorts it all out. What actually is a bru/bro? Ans does it affect your everyday living.
Have a stiff drink and unwind. Take care
Tracy |
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BankruptC
Senior Member
1030 Posts |
Posted - 02 October 2008 : 22:19:16
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Hi John,
Sorry, I'm confused here. I've always read, and I'm sure even on the IS site, that you are still discharged at the normal time even with a BRU/BRO.
Yeah, here it is:
22.5EA BROs/BRUs and discharge
'If the official receiver makes application for a bankruptcy restrictions order (BRO) or accepts a bankruptcy restrictions undertaking (BRU) then the bankrupt will still be discharged one year from the date of the bankruptcy order (or earlier if the official receiver follows the early discharge process) but will be subject to the restrictions imposed under the terms of the BRO/BRU.'
Could you clarify this for me again please cos I think I'm missing something (and panicking too-just for a change!)
Thanks!
C. x
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Edited by - BankruptC on 02 October 2008 22:32:19 |
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OMG interview over!!
