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madwithworry
Starting Member
United Kingdom
19 Posts |
 Posted - 09 November 2009 : 17:31:18
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| What does BRU stand for and what are the implications? |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 09 November 2009 : 17:45:28
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BRU is bankruptcy restriction undertaking
BRO is bankruptcy restriction order
Discharged from BR but the restrictions iposed during BR remain ie. no debt over £500 without informing the lender of your status, not being a director of a Ltd Company, not being able to hold certain jobs ie, licensee.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 09 November 2009 : 17:56:05
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It can last for a number of years as well.
You will only get one if the OR discovers anything untoward when they investigage your financial affairs.
The glimmer gets brighter all the time
Jan
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xmas baby
Average Member
537 Posts |
Posted - 10 November 2009 : 10:57:48
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Hi there,
Once your case file has been closed by the OR and it has gone to RTLU, is there still a chance you could get a BRO/BRU? I declared BK in March this year and my case went to RTLU back in July and I haven't heard anything since. I'm just concerned because some of my debt was incurred through gambling and I was under the impression that most gambling debts ended up with a BRO?
Only three and a half months to go now.
xmas baby |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 10 November 2009 : 11:23:03
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It's unlikely that once your case has been passed to the RTLU that you would get BRU.
Fingers crossed for you!
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/
28 IPA payments made, 8 to go - in single figures! |
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xmas baby
Average Member
537 Posts |
Posted - 10 November 2009 : 11:33:12
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Thanks Skippy. I must admit I had accepted the fact that I may well get a BRO and deserved it in some way, but I would be so relieved if I didn't end up getting one as I really have learnt my lesson since declaring bankruptcy and I think I'm learning to be a pretty thrifty chappy these days. The only sad fact is that I review my bank account transactions on a daily basis and its become something of an obsession. At least I can now budget to the nearest penny, which is no mean feat I suppose. I'm keeping my fingers crossed until 5th March 2010.
Have a good day!
xmas baby |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 10 November 2009 : 11:57:24
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I'm the same - I check my bank account every day and make sure it matches what's on my spreadsheet down to the last penny!
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/
28 IPA payments made, 8 to go - in single figures! |
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debtinfo
forum expert
2826 Posts |
Posted - 10 November 2009 : 22:20:21
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| Hi what percentage of your debts were down to gambling and when did you stop gambling, and have you had any gambling therapy |
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xmas baby
Average Member
537 Posts |
Posted - 11 November 2009 : 10:17:12
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Hi debtinfo,
I would say about a quarter of my debt was due to gambling and I stopped gambling about 10 months ago. I voluntarily went to counselling and have attended about 10 sessions. I no longer attend these sessions and I haven't relapsed into gambling. The fact that I am banned from my local casinos probably helps.
xmas baby |
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debtinfo
forum expert
2826 Posts |
Posted - 12 November 2009 : 00:07:53
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| Based on that it is certainly possible you may get a BRO/U (note the possible and may). If it is going to happen you wold normally have a second face to face interview and it ha to be done before discharge. The way it works they only have enough resources to do some of the BRO's that could possibly done. Yours would not seem to be the most important case they probably see. Normally where misconduct is identified at the first interview they put you on a list of possible BRO cases. They will always do the most important cases first for instance someone going round scaming old ladies out of their retirement money would be at the top of the list. So there are always cases where they never get round to doing anything before the bankrupt is discharged. |
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What does BRU stand for
