Can you ask for a long bankruptsy ?

scooby1001

I read about people being dischared from bankruptsy between 6 and 12 months. When i go bankrupt can i ask for a 10 year one, i have read of one person here that has one so it must be a possibilty.

Merry_Gentry

Why on earth would you want to do that?!!

skylight

Okay.

Why???????



A bankruptcy cannot last more than 12 months unless the OR deems it necessary to halt your discharge and I understand they must apply via the court for this. I think that you are refering to a BRU (Bankruptcy Restriction Undertaking) which can restrict you to BR level (such as no credit, employed as MP etc...) for up to 15 years. Both these maximums are held only for those serious cases - usually fraud.

So why would you want to have your BR extended???

scooby1001

Thanks i want the bankruptsy to last as long as possible so i can,t get any credit etc. I have a mental illness called scitzoaffective disorder which means i run up debts when i am high and stop my benefits. I have come to the conclusion bankruptsy is the best way forward but would like it to last as long as possible so i have a crap credit rating.

My parents are going to have a power of attorney over me but i want the above too to be extra safe.

skylight

Well, the good bit is that your credit rating will be shot to pieces for years anyway, so getting credit is going to be difficult.

I can completely understand why you would want a restriction order, but I think that this is something you should discuss with your OR. Voluntary BRUs are not impossible I guess, but you need to know all the implications that would go with it. Your parents having POA over you is a good thing.

I would suggest that as you are not BR yet, you contact the insolvency.gov.uk service and pose the question to them. They have a good email response system but expect it to take a few days. At least you would have a good idea then.

JCS1

OR will not give you a BRO unless there is a misconduct that can be evidenced. Sorry, not the answer you were looking for.

DelhiBelly_2

You could write to the credit reference agencies and ask to have a "note of correction" added to your credit reference file stating that you do not wish to be accepted for credit at any time in the future due to your mental illness. This would then be flagged at any time that a credit reference check is done as it is on there indefinitely (or until you ask to have it removed).

peachyprice

Scooby, you add your own notes to your credit files for creditors to read which to make it more difficult for you to get credit. For example you could add something to the effect that any application should be reffered to your PoA.

If you give the credit reference agencies a call they should be able to advise how to do it.

scooby1001

I tried the notice of correction thing last year but the credit reference agencies refused to do it. I think it was because it is supposed to be just to correct wrong information being held not to ask people not to lend you money.

As for the power of attorney i have just found out this i can't have once if i am made bankrupt.

So i have decided to shelve the bankrupty until next year and just keep defauling on all my payments to see if that does the job and they accept reduced payment. I have done the general power of atorney and am sending it to everyone with instructions so will see what transpires.

What gets me is that if you don't be be given credit they are not willing to help. Mad.
Still my psydoc is writing a letter that i can send to everyone also so fingers crossed.
I know people think i must be mad but i am not just sad

scooby1001

Just to let you know i have spoken to the national debtline tonight and i decided to do a debt management plan instead. That way i can still have my power of attorney and my credit will be shot to pieces anyway(i hope)

I should NEVER EVER be given credit. I am hopefull with my new medication and the above i will not rack up any more debt. I feel better about a DMP as i feel i should pay the money back even though i was not of sound mind which i did it.