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rod
Starting Member
4 Posts |
 Posted - 25 November 2008 : 10:13:50
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Hi I am confused. What are all these letters eg. BI, IPA, RTLU etc.
Please let someone let me into this secret.
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 25 November 2008 : 11:17:18
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BI - Beneficial Interest (the financial interest in your property)
OR - Official Receiver (government official dealing with bankruptcy
IPA - Income Payment Agreement (monthly payment that lasts 36 months)
IPO - Income Payment Order (as for IPA but enforced by the court rather than agreed between the OR and the bankrupt.
BRU - Bankruptcy Restriction Undertaking (undertaking made when OR feels the bankrupt has been reckless - the restrictions of BR are extended for up to 15 years)
BRO - (as for BRU but enforced by the court rather than agreed by the OR and the bankrupt)
ED - Early discharge (when BR lasts for less than 12 months)
RTLU - Regional Trustee Liquidation Unit (Unit dealing with assets)
I hope that helps, but if I've missed any (and I probably have!) I'm sure someone will be able to help!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
Edited by - Skippy on 25 November 2008 11:21:21 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 25 November 2008 : 11:51:43
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Hey Skip
Great minds and all that i was just about to post on this one.
Rod:
I know the jargon got to me at first, but over time it will all become clear. If you have anymore questions dont hesitate to ask them :-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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