1 Year on and now Discharged

fiveyearplan

If there is no IPA set then one cannot now be implemented.

AAW_2

Thanks for clearing that up for me.

That's great News:beer: Well Done

HEADACHE

Apparently the IS have a yearly BRU quota they have to meet,probably part of the govt targets thingy.
Does anyone know how a BRU/BRO is policed by the OR or trustee??

empty_wallet_2

HEADACHE wrote: »

Apparently the IS have a yearly BRU quota they have to meet,probably part of the govt targets thingy.
Does anyone know how a BRU/BRO is policed by the OR or trustee??

Not sure if its really policed, i think when going for the BRU they work on trust. We are however entered onto a BRU/BRO register on the IS website, that gives the details of why you have a BRU and also the start and finish date and also the details of who to contact should anyone think we are breaking our BRU/BRO. Not sure if it appears on credit reports, i will find out in a month when i apply for mine.

JCS1

HEADACHE wrote: »

Apparently the IS have a yearly BRU quota they have to meet,probably part of the govt targets thingy.
Does anyone know how a BRU/BRO is policed by the OR or trustee??

The actual procedure is something like this:

• Examiner contacts bank, credit card companies for copy statements, pulls together a draft report
• AOR reviews report and gives suggestions
• Report goes to Authorisation Team in London for their review and input
• back and forth between AT/Examiner/AOR with comments
• If AT give go ahead, BRU/BRO put to person
• BRU signed or BRO in court

After that, you've either signed a legally binding undertaking or got a court order to abide by.

HEADACHE

Im due to be getting a BRU,but I dont need to borrow money anyhow.Besides,the banks arent lending and my credit file is rubbish anyhow after being BR.Ive got my health and a great brain,thats all I need to make money,not some rip off bank or credit card.I also didnt have to do an IPA/IPO thing so all my money is my own.Did you know that under an IPO,if you work hard and pay 40% tax,with a IPO at 70% of surplus,you only get to keep 15p in every £1 earnt? 15p!!!!!! thats like paying 85% tax!!!!! so glad I didnt get into that,lifes tough enough without being penalised on future earnings.

empty_wallet_2

JCS1 wrote: »

The actual procedure is something like this:

• Examiner contacts bank, credit card companies for copy statements, pulls together a draft report
• AOR reviews report and gives suggestions
• Report goes to Authorisation Team in London for their review and input
• back and forth between AT/Examiner/AOR with comments
• If AT give go ahead, BRU/BRO put to person
• BRU signed or BRO in court

After that, you've either signed a legally binding undertaking or got a court order to abide by.

It took them almost 3 months to decide after my F2F follow up interview to tell me they were proceeding with BRU/BRO, i almost thought they had decided not to take it any further.

Not sure why they didn't give me an IPA as they were informed that i had a surplus of around £160, guess they were too busy sorting out the BRU to notice :rolleyes:, not that i'm complaining;)