Under what circumstances is a BRO - Bankruptcy Restriction Order issued? Just read about this but unsure what it is and why is the restriction ordered? Any replies appreciated - worrying now about every little thing but just 12 days to go until court hearing. Thanks Katie
- Not co-operating with the OR including being purposefully dishonest with them - Favouring creditors (i.e. paying some and not others) - Taking on credit when you are already insolvent and having no way to pay it back - Taking on credit without intending to pay it back i.e. taking a loan/CC and then declaring BR a few months later - Declaring BR twice within a 5 yr period for similar reasons - Debts due to gambling - etc. - etc.
To be honest a BRU is nothing to worry about and they are only issued in rare cases. You won't be sent to prison and it will just take a bit longer to completely end the BR restrictions.
BRO - Bankruptcy Restriction Order
Posted - 14 October 2009 : 17:05:20
