BRU offer or finality

micosmiling

Hi,
I have just been offered a 4 year BRU can I accept the BRU but ask for it to be reduced. I don't want to go to court but am still unsure if this is a final decision by the OR or if it is still negotiable.
I'm not after getting credit in 4 years its just that I pay an IPO for 3 years and just want all this mess cleared up at the same time with no further worries etc.
Many thanks in advance
micosmiling

nervousmother

I am not 100%, i know if you dont agree they will take it to court for a BRO, but why not call and ask...

micosmiling

Hi,
God I hate any contact with OR like that. please has anyone appealed out of court just on there BRU. If not I'll have to except it.
micosmiling

debtinfo

Hi normally the BRU length is the reduced length, if they take it to court they will normally ask for 1 year extra ie 5 years, The Examiner you speak to is not the person who makes the decision. They have a special department which decides which cases to take on and how long to ask for, this is where it come from. The only way they would offer you less is if there is some mitigation you have yet to mention

micosmiling

Hi,
Thanks for that looks like I'm sticking at for years. The wording of the letter I recieved seemed to make out it was an offer rather than set in concrete.
micosmiling

CG77

micosmiling wrote: »

Hi,
Thanks for that looks like I'm sticking at for years. The wording of the letter I recieved seemed to make out it was an offer rather than set in concrete.
micosmiling

Hi,

Yeah it will be an offer, but only an offer for you to either accept it or not, if you see what I mean. If you accept it, those will be the terms (4 years in your case) and if you don't, they will take it to court, where it will become a BRO as opposed to a BRU and the term will be longer. I think you're probably right to accept the 4 years, unless as debtinfo says you have some mitigation you haven't mentioned yet.

CG. x

fiveyearplan

To be honest if its 3 years or 4 it doesn't make much difference to your daily living. It will still fall off your CRF 6 years after the date you went BR.

debtinfo

To be fair should have mentioned that if it goes to court the OR will seek a longer term, as i said, this does not mean that the judge will grant a longer period, the judge will have the final say

micosmiling

fiveyearplan wrote: »

To be honest if its 3 years or 4 it doesn't make much difference to your daily living. It will still fall off your CRF 6 years after the date you went BR.

I thought soon as your year up the bankruptcy was over and it would not affect you CRF If you had no BRO/BRU???

As for the difference, well this hanging over my head one more day means some constant reminder of a horrible time.

dalip

micosmiling wrote: »

I thought soon as your year up the bankruptcy was over and it would not affect you CRF If you had no BRO/BRU???bc stays on your CRFfor 6 years regardless of any BRU or not.

As for the difference, well this hanging over my head one more day means some constant reminder of a horrible time.

We all have some reminder of bc,just try to put it to the back of your mind.Dx