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BRO querey

I am in about £50,ooo of personal debt, and my take home salary is £800, no assets or property and am likely to file for bankruptcy soon. My problem is that i have been on a DMP since 2006 and at the time had to open a bank account with someone that i did not owe money to, i applied to the three companies left that i did not owe to and only the lloyds tsb accepted me. Due to this i did not declare my american express debt on the DMP as they are the same company (did not know that at the time). I have had to pay them each month the minimum payment in order that they dont close my current account and seize all mine and my partners income. I felt i did not have any other choice. If i go bankrupt does that mean i will end up with a BRO? - i have worried about this for the last 3+ years and that is why i havent gone bankrupt sooner. Can anyone help please.

Comments

  • confused76
    confused76 Posts: 12,680 Forumite
    Part of the Furniture Combo Breaker
    i'm sorry i don't know the answer to your question, however, i would say don't let it stop you from going bankrupt if br is the answer for you.

    have you taken advice? you need advice before you can go br - try the national debtline, cab or cccs, they are all free debt charities

    have you tried the coop or barclays for a basic bank account?
  • greytdog_2
    greytdog_2 Posts: 288 Forumite
    thanks for reply, the dmp was a joint one with my OH, he cannot go bankrupt due to his job. Our total debt was over 150000 and is now just under 100000, paid off since october 2006 til now. when joint we owed 15 different creditors so was unable to use barclays and co-op - only options were nationwide and lloyds tsb, tried nationwide and they refused hence going with lloyds tsb.

    Does anyone know the bankrupcy trigger figures
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    At least you have tried to sort out your debts.

    Shoild be ok going br. BROS you get if you are naughty you sound ok:)
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Generally the OR looks at two things, if you have done something wrong which is a possibility because of not declaring the account. Secondly is the impact that the none disclosure has had. I would say this is minimal as you have continued to make payments throughout the period. All in all i think that a BRO for this particular action would not take place. I presume that the none disclosure has not been used to secure further credit during the period
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
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