Should I go on a spree a week before my BR?

StuntmanBob

My BR is next week, and one of my credit cards hasn't been stopped yet. I'm wondering about going out and buying a few hundred pounds worth of stuff on it such as an X-Box and/or an iPhone, maybe some DVDs.

Logic tells me this is a pretty stupid and irresponsible thing to do, but I'm wondering would it matter? Would this count as taking credit which I knew I couldn't repay and therefore likely lead to a BRO? Or would it just vanish into a sea of debt.

I suppose at this stage I'm thinking what harm could a few more hundred do when I'm going down the pan for £160k. But I really really don't want a BRO.

Any views?

peachyprice

Food and essential bills you may just get away with. XBoxe, Iphone & DVD's will more than likely land you with a BRO.

JG1984

i stopped using my cards etc before they got to limit as i knew i couldnt afford the current balances, so i dont know about this hopefully someone will pop on who does, personally though i wont be spending any more "credit" before i go br

ladylumps45

whats a bro?my hubby is going bankrupt in 21st april and paid off 1300 to my credit card the other day by a cheque from his current account.will he get into trouble for this and what can happen? worried sick now but we were trying to reduce monthly outgoings.

StuntmanBob

A BRO is a Bankruptcy Restriction Order, basically a huge pain in the bum which effectively extends your bankruptcy beyond a year by imposing the same restrictions on you even after you are discharged. Explained here:
http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm

custard_cream_3

Bankruptcy Restriction Order...you carry on having the limitations of bankruptcy imposed on you even once discharged.

As for the original question - they'd hammer you!

StuntmanBob

ladylumps45 wrote: »

will he get into trouble for this and what can happen? worried sick now but we were trying to reduce monthly outgoings.

I wouldn't worry if I were you. What I'm suggesting (going on a splurge) is plainly stupid and asking for trouble. What you are doing is your best to manage the situation and I'd be very surprised if your husband's action would be treated the same as going on a spending spree.

I've seen several threads on here about people who have had bankruptcy restriction orders placed on them. I'd suggest you do a search and see if that puts your mind at rest when you see what others did to have a BRO imposed.

StuntmanBob

custard_cream wrote: »

As for the original question - they'd hammer you!

Yeah, I'm thinking that my suggestion really was as stupid as it sounds!
I suppose I was hoping for "no worries you'll get away with that" replies but I didn't really expect any! I'll carry on being good.

Thanks all.

ladylumps45

thankyou stuntman for your advice.i will do a search on here for that and have a browse.i know its tempting to have a spree as it did cross my mind but not worth it eh!

ladylumps45

i forgot to say that the 1300 pounds he paid my credit card off with was from his 2000 pound arranged overdraft so will the official receiver see this as debt taken on that he couldnt pay as said by someone earlier on this site.?we did intend tho to pay back what we could but hasnt worked that way and we will have to continue using it for fee and bills.

dvs

StuntmanBob wrote: »

My BR is next week, and one of my credit cards hasn't been stopped yet. I'm wondering about going out and buying a few hundred pounds worth of stuff on it such as an X-Box and/or an iPhone, maybe some DVDs.

In short no. In long, you could use the credit for essentials like food or withdraw as cash for bankruptcy fees etc. I bought some supermarket gift cards for food post bankrupt. Not loads of money, just a bit - but I did this over several weeks before bankruptcy and I had just lost my income so it was no different to stockpiling food in my opinion.

If you have transactions that are blatantly luxury spending, you'll be asking for trouble. As for a withdrawal of £500 cash for fees, I can't see how they would know whether that withdrawal was spent on fees, food or an X Box.