Bankruptcy Restriction Orders & Income payment orders

Jamese_2

Hi guys,

I need to know a certain thing about BRO's and IPO's.

Basically i need to go bankrupt and i currently wont have hardly any expendible income once my expenses and essential living costs are taken into account.

I know that i will be discharged after 12 months and wont have to pay anything after that - but if you get a restriction order against you how does that effect IPO's?

Can they put a payment order in after the 12 months during ur restriction? i know once they have put a payment order in it last for 3 years but what if they dont put a payment order through during the 12 months of bankruptcy?

Hope that makes sense?

Cheers

tigerfeet2006

An IPA and a BRO are seperate issues.

If you do not recieve an IPA before you are discharged then you will not recieve one.

All a BRO does is extend the limitations of BR for 3-15 years ie: no credit over £500 without telling the lender you are/were BR, not be able to do certain jobs, can't be a director etc.

now

Tiger is right, no IPA in 12 months nothing to pay they have to sort out an IPA within the 12 months. A BRO will only be handed out if you have done something bad however if you get a BRO without an IPA the BRO is the only part that will extend past the 12 month period if that makes sense. Why do you think you might get a BRO?

Jamese_2

I gambled my debts so i will definatelt get a restriction of some kind, going to to a new thread that asks how long actually