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  • FIRST POST
    • Julesc
    • By Julesc 14th Jun 17, 5:51 PM
    • 12Posts
    • 1Thanks
    Julesc
    Mind working overtime.....
    • #1
    • 14th Jun 17, 5:51 PM
    Mind working overtime..... 14th Jun 17 at 5:51 PM
    Had my interview today which was surprisingly stress free however, my mind is working overtime.

    The OR said the only contribution to the bankruptcy would be from my NT tax code. He said there was no need for a formal interview and I would be automatically discharged in 12 months.

    I assume this means no BRO/BRU??

    Also, I can't stop thinking about what my creditors might do!! Can they respond to the creditors report and object to no further action being taken against me?

    Thanks in advance
Page 1
    • Mistygrove
    • By Mistygrove 14th Jun 17, 6:34 PM
    • 30 Posts
    • 20 Thanks
    Mistygrove
    • #2
    • 14th Jun 17, 6:34 PM
    • #2
    • 14th Jun 17, 6:34 PM
    You are bankrupt now. Your creditors can't really say or do nothing surely.

    I had mine today too.
    Few loose ends as I've stated on that other thread we've been on.

    But like you my mind is working overtime. I think because today it all seems very very real

    Take care x
    • Julesc
    • By Julesc 14th Jun 17, 6:43 PM
    • 12 Posts
    • 1 Thanks
    Julesc
    • #3
    • 14th Jun 17, 6:43 PM
    • #3
    • 14th Jun 17, 6:43 PM
    Thanks Mistygrove.

    Yes, I think I'm just overthinking everything. I've spent so long stressing about the whole thing it's hard to believe it's finally over.

    Thank you , you too x
    • nikkirr
    • By nikkirr 14th Jun 17, 11:07 PM
    • 36 Posts
    • 4 Thanks
    nikkirr
    • #4
    • 14th Jun 17, 11:07 PM
    • #4
    • 14th Jun 17, 11:07 PM
    Wish mine was over, i bet anything mine is a face to face! Its taking way too long maybe cos mine was a large amount
    • peterkay369
    • By peterkay369 14th Jun 17, 11:18 PM
    • 139 Posts
    • 60 Thanks
    peterkay369
    • #5
    • 14th Jun 17, 11:18 PM
    • #5
    • 14th Jun 17, 11:18 PM
    Sorry to break it to you, however I wouldnt rule out a BRU/BRO just yet. I had my initial interview with the OR mid Feb (declared BR at start of Feb) and only received notification a couple of weeks ago to say there is a chance I may be getting a BRU/BRO. OR mentioned absolutely nothing of this in the initial interview.

    Had my interview with the examiner yesterday and completed my statement, it's then sent to another department however could be weeks before I hear anything back.

    Not what you wanted to hear, however best not to build your hopes up for everything to go down the pan like it did for me. Fingers crossed I don't get one.

    If you have no reason for one however (debt isn't due to gambling, reckless spending etc) you should be pretty safe.
    • KJ2886
    • By KJ2886 14th Jun 17, 11:29 PM
    • 32 Posts
    • 6 Thanks
    KJ2886
    • #6
    • 14th Jun 17, 11:29 PM
    • #6
    • 14th Jun 17, 11:29 PM
    Whats the difference between an IPA a BRO and BRU?
    I haven't submitted mine yet (not got the money for it yet) and a bit scared as a lot of my debt is recent, and some gambling
    • peterkay369
    • By peterkay369 14th Jun 17, 11:41 PM
    • 139 Posts
    • 60 Thanks
    peterkay369
    • #7
    • 14th Jun 17, 11:41 PM
    • #7
    • 14th Jun 17, 11:41 PM
    IPA is a payment agreement that lasts for 3 years whereby any surplus income you have is paid to the OR to distribute the funds to creditors (and fund the Insolvency Service). You are still discharged after a year of being bankrupt and the restrictions that you have as a bankrupt no longer apply.

    BRU/BRO basically extends the restrictions of your bankruptcy. Again, still discharged after a year however the restrictions such as not being able to obtain credit of more than £500 (without notifying lender of the BRU), being a company director etc still apply. BRU/BROs last for a minimum of 2 years, and maximum of 15 years.
    BRU = Bankruptcy Restrictions Undertakings - you agree to the restrictions voluntarily
    BRO = Bankruptcy Restrictions Orders - an order made by the court if you disagree to the restrictions

    I don't have an IPA however may well be getting a BRU so it's possible to have one without the other.

    I was in the same situation as you with recent debt, quite a large amount within the 6 months leading upto my bankruptcy. The majority of that was due to gambling.

    If you haven't already, get in touch with Gamcare and get counselling for the gambling. As well as the obvious positive aspects you would receive from the counselling, showing that you have acknowledged and are addressing the problem will go favourably in your way when the decision is made for whether you will be receiving a BRO.
    • HothHan
    • By HothHan 15th Jun 17, 9:14 AM
    • 18 Posts
    • 15 Thanks
    HothHan
    • #8
    • 15th Jun 17, 9:14 AM
    • #8
    • 15th Jun 17, 9:14 AM
    peterkay369, A lot of my debt was also recent and due to gambling. Did they tell you on the initial OR call that you would need to have a face to face interview?
    Just wondering, and dreading, that I'm going to get requested to do one of those. On my telephone interview they asked very little details regarding spending after I mentioned the gambling and didn't discuss the income expenditure at all, but did say I'd probably get a BRU.
    • Julesc
    • By Julesc 15th Jun 17, 9:28 AM
    • 12 Posts
    • 1 Thanks
    Julesc
    • #9
    • 15th Jun 17, 9:28 AM
    • #9
    • 15th Jun 17, 9:28 AM
    Thanks for your responses.

    I hope you hear something soon Nikkir - it's just awful not knowing what to expect.

    I suppose I will just have to wait and see what happens, I have had some reckless spending (not gambling) but I explained to the OR that this can be attributed to my Bipolar. He seemed to accept that but I suppose you never know. Worrying is making me ill so I need to try and switch off.

    Thanks for your support, I've not contributed much to this forum but I have followed it closely and learned loads.
    • LincsPaul
    • By LincsPaul 16th Jun 17, 11:38 AM
    • 70 Posts
    • 24 Thanks
    LincsPaul
    To Peter Kay - echoing HothHan's question - you mention 'initial' OR interview and then another 'interview with the examiner' - why did you have two? After my phone interview (2 days after being declared) they said that's probably the last I'll hear from them.

    To OP - I don't think BRU/BROs are anything to be scared of particularly. All they do is extend the bankruptcy term. The end result is the same - no debts!
    • peterkay369
    • By peterkay369 16th Jun 17, 2:38 PM
    • 139 Posts
    • 60 Thanks
    peterkay369
    peterkay369, A lot of my debt was also recent and due to gambling. Did they tell you on the initial OR call that you would need to have a face to face interview?
    Just wondering, and dreading, that I'm going to get requested to do one of those. On my telephone interview they asked very little details regarding spending after I mentioned the gambling and didn't discuss the income expenditure at all, but did say I'd probably get a BRU.
    Originally posted by HothHan
    Hi HothHan, no - although I don't think my first OR interview was exactly the norm. It ended up being at about 7pm on a Friday evening as their systems had been playing up all week. Took approx 15 minutes in total, the OR asked for a brief overview of what happened, said my Income & Expenditure were all ok and that was it. I think given more time they may have delved deeper. They didn't mention the need for any further contact

    The second interview I had (to determine whether or not I'll get a BRU) again only took around 15 minutes but went into more details on what happened, who I borrowed the money from, when I borrowed it, what was it used for etc.. It was mentioned that they were still awaiting a reply from one of my creditors, so it could be that they won't contact you until they have a lot more information. It is nothing to worry about however, they aren't judgmental and you won't be told off as such, they just need to gather the info. Normally this interview is done face to face however they can do it over the phone if requested and you have a suitable reason for not doing face to face.

    After this they will get you to read over your statement and it'll be sent to another department who then say whether or not you will be receiving a BRU. You then have a choice of whether to accept or not. If you don't, it could go to court and if found in their favour, an order will made against you to follow the restrictions which then becomes a BRO.

    To Peter Kay - echoing HothHan's question - you mention 'initial' OR interview and then another 'interview with the examiner' - why did you have two? After my phone interview (2 days after being declared) they said that's probably the last I'll hear from them.

    To OP - I don't think BRU/BROs are anything to be scared of particularly. All they do is extend the bankruptcy term. The end result is the same - no debts!
    Originally posted by LincsPaul
    Hi Paul,

    The first interview with the OR is supposed to be a couple of days after the application for bankruptcy is approved. This is just a brief overview, whereby they gather more information on the reason for the application, your current financial situation, income/expenditure and to explain what happens next as well as answer any questions. The OR didn't mention anything about a BRU in this interview - and to be completely honest, I didn't want to bring the situation up and hoped I may slip through the net. This was in February and I didn't hear anything else until early June.

    At the start of June I had contact from the OR to say that my conduct may warrant the need for a BRU and arranged a second interview. The second interview was to determine whether or not I'll be receiving a BRU. They can't make the and decision during the first interview as they will need to go through all of your bank statements, credit card statements, loan agreements etc which given how understaffed the Insolvency Service is, could take weeks/months as it did in my case.

    If there is nothing in your bankruptcy that is out of the blue (excessive gambling, spending etc) then you should sail through with no further contact however if the bankruptcy is due to your own reckless actions (not having a dig, it's one of the reasons for mine!!) you may well hear from them at a later date.
    Last edited by peterkay369; 16-06-2017 at 2:42 PM.
    • HothHan
    • By HothHan 16th Jun 17, 3:51 PM
    • 18 Posts
    • 15 Thanks
    HothHan
    Hi HothHan, no - although I don't think my first OR interview was exactly the norm. It ended up being at about 7pm on a Friday evening as their systems had been playing up all week. Took approx 15 minutes in total, the OR asked for a brief overview of what happened, said my Income & Expenditure were all ok and that was it. I think given more time they may have delved deeper. They didn't mention the need for any further contact

    The second interview I had (to determine whether or not I'll get a BRU) again only took around 15 minutes but went into more details on what happened, who I borrowed the money from, when I borrowed it, what was it used for etc.. It was mentioned that they were still awaiting a reply from one of my creditors, so it could be that they won't contact you until they have a lot more information. It is nothing to worry about however, they aren't judgmental and you won't be told off as such, they just need to gather the info. Normally this interview is done face to face however they can do it over the phone if requested and you have a suitable reason for not doing face to face.

    After this they will get you to read over your statement and it'll be sent to another department who then say whether or not you will be receiving a BRU. You then have a choice of whether to accept or not. If you don't, it could go to court and if found in their favour, an order will made against you to follow the restrictions which then becomes a BRO.
    Originally posted by peterkay369
    Thanks for taking the time to reply, I'm fully expecting a BRU to be honest due to my gambling and the speed it got out of control and the recent borrowing etc. I'll definitely just accept it as I won't make a difference to me anyway, to be honest. I think I'll probably have to have a second interview by the sounds of it then too.
    • KJ2886
    • By KJ2886 16th Jun 17, 7:21 PM
    • 32 Posts
    • 6 Thanks
    KJ2886
    I think reading about the BRU ill be getting one of them too due to gambling and very recent too!
    I was getting it all under control and my debt was decreasing about 18 months ago and then got out of control again.
    I was making all my min payments until 4 months ago too! I also got a CCJ against me around august for something else too (only found out a few months ago), my 0% offers ended and min payments went up, charges and fees kept adding up and I just couldnt afford them no more, was setting up a DMP with stepchange at the beginning of the year when I found about my CCJ and now had high court enforcement stage which and with their additional costs has pushed me more to the decision of bankruptcy

    Just worried with the bankruptcy it will look bad that I havent made good enough effort into repaying the debt as didnt start my DMP or repayments
    • Mistygrove
    • By Mistygrove 16th Jun 17, 7:41 PM
    • 30 Posts
    • 20 Thanks
    Mistygrove
    Four months later you got a call.
    I thought after they first few weeks it should all be sorted so you can relax. After reading this I'm gonna be on eggshells for 12 months until discharged. I'm such a worrier and I'm hating this whole experience but had to do it as I couldn't afford my debts. I could cry.
    • nikkirr
    • By nikkirr 16th Jun 17, 7:45 PM
    • 36 Posts
    • 4 Thanks
    nikkirr
    Re
    At the end of my call she said i will send a confirmation letter stating no further interviews are needed
    • peterkay369
    • By peterkay369 16th Jun 17, 8:19 PM
    • 139 Posts
    • 60 Thanks
    peterkay369
    To be completely honest a BRU will not affect the vast majority of people, I think the main restriction that people would like to avoid is in relation to the credit of £500 - you can still obtain credit of over £500 however you need to inform the creditor. Other than that it's just along the lines of not being able to be a company director, insolvency practitioner etc. A BRU will have little to no effect on day to day living.

    KJ2886 - I didn't make a single repayment to 2 of my creditors (in total made up approx 35% of full amount). The examiner questioned this and I answered honestly (I lost it through gambling) and they moved onto the next question and didn't judge me. They do this on a daily basis so have seeen it all before ☺

    I wouldnt worry about it, easier said than done I know however looking back on my interview I can't see why I was so worried.

    Feel free to PM me if you wish to discuss anything
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