Just had OR interview and I'm scared

Dez-Titute

Hi again Mummy4,

What the OR says and what the OR does are 2 separate things you dont have a BRO/BRU until the Fat lady has sung.

What you did was under duress & seemed like the right way at the time,I'ts not your fault someone was ready to consolodate your debt I would blame that on BAD lending.

Get further advice like I said previously.

Any questions you know where I am.

Cheers DEz

Rylynn

Sorry to hear this, and also agree with FYP banks what do they know about being honest and giving good advice, please ORs do not patronise us!

Try not to worry too much, I know that is easier said than done believe me, but no one can KILL you. Just try to keep calm and get some advice as suggested.

Keep posting as it helps to share things, and people here are so wonderful with not only advice but support.

RL

chelseabun_3

Hi again,
You OR sounds really nasty! If you appeal against the BRO (if you do get one) it will go over her head - which sounds like it might be a good thing!:rolleyes:

Take care and keep in touch on here - great support from all!:D CBx

shadowdragon

Thats bull tbh 10years, i did over 40k (inclusive of bank charges, 3 mobile phone contracts, overdraft, loans and 2 Credit cards, interest ect) in 2 years, and no mention of irresponsible spending, face to face interview, or BRO/U. ORs need to get some consistency.

P1sses me off reading about ORs who do this. I wasnt even working at got loans.

Bloody hell, thats out of order that is.

/puts on mr angry face.

Itsallgonepearshaped

Hi. Think I might be in the same boat as you in terms of a BRO as I took out a loan for £25k from Lloyds three months ago to support my business but it's all gone belly up - I haven't even started the repayments yet as it was a deferred payment loan ! I must admit I was shocked they gave it to me as I already had a loan with them and had massive credit card debts but I chanced my arm applying through my bank account and the money was in my account about 10 seconds later. I really thought at the time I could turn it round and I would be able to pay it back but they knew exactly how much was going into my account (which wasn't a lot at the time) but still gave it to me and it's all gone now. . Same with MBNA - kept throwing cards at me and cheques so I'd get more cards and transfer balances off MBNA onto these and then cash there cheques into my bank account. Thing is it's all gone on the business so I've got nothing to show for it. Started filling in the forms yesterday but this is the bit that really scares me - think I could be in deep !!!!!! !!:eek:

Rylynn

Yes but Shadow did you take out a loan just 6 months before knowing you were in debt up to your eyeballs and could not possibly repay it? as that is what this seems to be. The ORs are hard on this subject, if they think you have taken yet more credit and knew fully you could not possibly repay it. Rightly or wrongly, as I know how easy it is to think you CAN PAY it at the time, the OR sees you should have known you could not!

Still very harsh, and the debts were over many years as well as you say.

Makes me think there really needs to be legislation on how the OR works and needs to be England wide, so this type of thing has set rules and regulations.

Bit like Holidays, school dinners, cars etc all grey areas, what one OR allows another one wont.

RL

Dez-Titute

shadowdragon wrote: »

Thats bull tbh 10years, i did over 40k (inclusive of bank charges, 3 mobile phone contracts, overdraft, loans and 2 Credit cards, interest ect) in 2 years, and no mention of irresponsible spending, face to face interview, or BRO/U. ORs need to get some consistency.

P1sses me off reading about ORs who do this. I wasnt even working at got loans.

Bloody hell, thats out of order that is.

/puts on mr angry face.

Totally agree Shadow,

shadowdragon

Rylynn wrote: »

Yes but Shadow did you take out a loan just 6 months before knowing you were in debt up to your eyeballs and could not possibly repay it? as that is what this seems to be. The ORs are hard on this subject, if they think you have taken yet more credit and knew fully you could not possibly repay it. Rightly or wrongly, as I know how easy it is to think you CAN PAY it at the time, the OR sees you should have known you could not!

Still very harsh, and the debts were over many years as well as you say.

Makes me think there really needs to be legislation on how the OR works and needs to be England wide, so this type of thing has set rules and regulations.

Bit like Holidays, school dinners, cars etc all grey areas, what one OR allows another one wont.

RL

Well no, but still !!!!es me off!!!! the OP has been consolodating for 10 years, not 10 weeks or months. The banks let her do it because of the house prices going up and up and up. And now there going down and down and down and now the OP is getting !!!!!! about it. Maybe if the banks were more responsible with there lending in the first place it wouldnt happen.

Plus if you have consolodated 5 times already and each time it kept your head above water for a year or so, why wouldnt you do it again!!

Not ranting at you ryl, or anyone. Just annoys me. Someone looses everything looking after there family/buisness and they get crap like this, then there are people who tottally take the p1ss out of the system (BIG buisnesses/offshore accounts/big bonuses) and get away scot free.

did i mention it P1SSES me off.

shadowdragon

Itsallgonepearshaped wrote: »

Hi. Think I might be in the same boat as you in terms of a BRO as I took out a loan for £25k from Lloyds three months ago to support my business but it's all gone belly up - I haven't even started the repayments yet as it was a deferred payment loan ! I must admit I was shocked they gave it to me as I already had a loan with them and had massive credit card debts but I chanced my arm applying through my bank account and the money was in my account about 10 seconds later. I really thought at the time I could turn it round and I would be able to pay it back but they knew exactly how much was going into my account (which wasn't a lot at the time) but still gave it to me and it's all gone now. . Same with MBNA - kept throwing cards at me and cheques so I'd get more cards and transfer balances off MBNA onto these and then cash there cheques into my bank account. Thing is it's all gone on the business so I've got nothing to show for it. Started filling in the forms yesterday but this is the bit that really scares me - think I could be in deep !!!!!! !!:eek:

I wouldnt worry about it until your OR mentions it tbh, no one knows what they are thinking, your OR might just say thats fine, and leave it at that. Theres no consistency. Just try not to worry and cross that bridge when it comes to it.

Rylynn

Shadow it P!sses me off as well, the banks just kept giving me money, and cards, when had they been more observant would have realised I was on the way under, I stopped paddling water, and yet they lent me more.

It makes no sense at all, I did not even have a house or mortgage.

I know the way ORs work is complicated to say the least but it is not consistent which makes even giving out advice here hard. What we do know is some ORs stick to the rules that they have as guidelines, and to take out a loan knowing you cannot possibly repay it means you can face a BRO/BRU, especially if taken out within 6-9 months of declaring bankruptcy.

Even worse if you pay off a creditor, ie a parent, partner as you are making them preferential to all the others you owe money to, and the OR has powers to force the person paid to repay it back I understand as well.

It is a minefield, and one that does cause people to become angry, as there are fraudsters out there getting away with doing it, and others who have tried everything they can being penalised for doing the same.

Until their are set laws that ALL ORs have to follow then this will keep happening.

However there is another side to this, the OR has the power to look at each case and decide was the person being corrupt, and for those they deem not to have been they give no BRO/BRU but some will fall through this safety net on both sides the corrupt and uncorrupt. Hard line to call I think.

RL