I am submitting some anecdotal evidence regarding possiblities of people being handed a bru/bro.
I have monitored 14 of the people who went bankrupt in the same court and on the same day that I went bankrupt.
None of us has been given a bru/bro and all have now been discharged, either early or automatically.
Clearly, this is anecdotal but by the law of averages you migth have expected that one or two of us might have got a bru/bro if the issuing of such was widespread. It is hard to believe that none of us has done anything stupid which might have led to one being issued and the fact that noen of us got one indicates it is probably unlikely for most people.
I have heard the figure of 2% of bankruptcies being the proportion that get issued with bru's/bro's. My hunch is that a lot of those that are issued are to people who were not upfront about their affairs at the time of petition, or the interview or during the whole process.
The tip is cooperate fully if you are worried about the possibility of getting one. It may turn out fine.
BRO/BRU are few and far between for what is classed household debt (non trading cases). The main areas of concern that people have usually relate to any actions they have undertaken in the months leading up to their bankruptcy that may result in a possible BRO/BRU are these are usually completly unfounded. All the OR is looking for is potential fraud or wrong doing, in that when an individual has deliberatly incurred credit knowling full well they could not repay - this does not mean robbing Peter to pay Paul on credit cards but in cases where large loans have been taken out in months leading to bankruptcy, or unusual spending patterns/trasfer of funds. These actions may lead to a BRO/BRU.
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
Hi ... sorry to crash in on this topic, but I have a number of concerns re BRO/U .... with regards to the reasons listed on the insolvency register where a BRO/U has been instructed .... who writes these reasons, is it the Examiner? Sorry if that's a rubbish q.
BRU/BRO
Posted - 17 February 2009 : 11:28:13
