Help bru/bro

molly1412

hi

i am having a bad day and reading everything stressing out i am now convinced that we may get a BRU/BRO as we have used credit this year for holiday etc (but this was before husband lost his job and mother who looks after baby for us was diagnosed ill meaning i couldnt work full time so genuine reasons also unexpected as to why we are looking at bankruptcy) but before this we lived our life on credit but always paid it off and was not insolvent but now we are will they look at this as reckless and deem that as we used cards as close to a few months ago we were being fraudulant - am so worried.

worst case and we do get BRO/BRU does this mean for the term we have to pay an IPA (say BRO 5 years do we have to disclose earnings up or down for that term or maximum of 36 months normal IPA)

does anyone have any advice thanks again

Ineedaname

If you were not aware you were insolvent at the time you booked the holiday on the card then I doubt you will get a BRO/U. As I understand it those restrictions are reserved for debtors who have intentionally spent beyond their means, knowing they will never be able to pay it back.

Sounds like you managed your debt responsibly and it's just a collection of unfortunate circumstances that have put you in the situation you are in now.

An IPA would be separate from any BRO/U and is for a term of 36 months from when it is set up.

Have you taken any advice from one of the free debt advice charities yet? You may find you have other debt management options open to you.

andyf1980

Try not to worry about it too much (easier said than done I know!)

Lots of people are in similar situations and haven't been given BRO/BRU. I think so long as you're honest with the OR and explain your circumstances things will be ok.

Remember that the OR are exceptionally busy and have a very limited amount of time to investigate your case.

Fingers crossed for you and hope it works out.

sundays

INAN

the OR will decide whether they have were insolvent at the time of the holiday so i dont think your comments were either fair or realistic. If the OR does question there holiday or any monies what so ever and is considering a BRO they will be questioned at length .

To the OP many get them , many dont, dont worry about it more than you can, from i understand a BRO does not extend a undischarged or IPA period but can put further restrictions on you after the discharge which ia between 4 and 15 years ,,,,,,,, average appear 4/6 years should you get one which is no different than what you will actually sacrifice as a BR anyway, we are all stuffed for 6 years regardless of the 12 month undischarged period .

Ineedaname

My comments were fair and nothing different than has been said before by other members. If the OP was unaware they were insolvent at time of spending then they have not intentionally acted in a way that would get them a BRO/U.

Even if the OR decided the OP probably was insolvent at the time, if the OP didn't realise then it's unfair to penalise them.

dojoman

You would have to do something really serious to to get a BRO/BRU.

kepar

A lot of those who go br, pay for it with credit cards or overdrafts, when they know they are insolvent. As long as your holiday wasn't more than a couple of thousand, I cannot see the problem.

Trollfever

Some background reading on why BRU/BRO's are imposed.

http://www.insolvencydirect.bis.gov.uk/databases/ddirector/viewbrobrudetailssummary.asp?gnnregion=east midlands