whats the worst that can happen??

molly1412

hi everyone,

im sure as everyone remembers or is still experiencing i have good days and bad days and today is the latter where i panic and worry about everything......could just cry.

instead of a specific or technical question i just wanted to know worst case what is the worst that has happened to someone who gone bankrupt or the worst we can expect so then anything less is a bonus.

we have not done anything fradulant but i panic that as we used credit around 6 months ago to pay for expenses on husband work trip (before we knew wed be filing for bankruptcy) we also got a PPI payout of 4k that we spent on day to day living and clothes etc i worry that we will get a BRO/BRU and wonder what this exactly means and has anyone had one for spending before they knew they were going bankrupt (there are geniune reasons - change in circumstances which was unexpected which has made us go BR)

sorry for going on but i just want to know what to expect

thanks again and hope after bath and bed tomorrow will be a better day

sundays

Getting a BRO is quite common place all it does is place some extra restictions on you.

Anything between 2 -6 is no different than an normal BR .

Over 6 for a Bro years is quite common place, your not considered fraudlent more or less reckless /silly /studip the aveage BRO appears 4 years. you may get a pass your may get a bro look on the OR web site for BRO case historys = 2-15.years worse i can see is you may get IS 4 years.

BRO is about using money when you were and knew you were insolvent, most get away with it for a few quid , 4k prob not.

But calm down , BR is often the best thing even with a small BRo THAT CAN happen to soemone who is struggeling.

JCS1

BRO's are not quite common place at all. Most of the cases that are referred for further investigation by the initial examiner tend to get abandoned, usually due to better cases or lack of paper evidence.

OP - do not worry. You have decided that BR is the best way forward for you. It won't be easy, but in a few years time you'll look back on it and realise it has given you a new start.

fermi

molly1412 wrote: »

we have not done anything fradulant but i panic that as we used credit around 6 months ago to pay for expenses on husband work trip (before we knew wed be filing for bankruptcy) we also got a PPI payout of 4k that we spent on day to day living and clothes etc i worry that we will get a BRO/BRU and wonder what this exactly means and has anyone had one for spending before they knew they were going bankrupt (there are geniune reasons - change in circumstances which was unexpected which has made us go BR)

Can't imagine an examiner contemplating a BRO/U based on that.

sundays wrote: »

Getting a BRO is quite common place

No, not really.

Ineedaname

Don't remember seeing a BRO/U on the board in the year or so I've been regularly reading the threads.

Many BRs continue to rob peter to pay paul and run up more debt until they realise BR is the only way forward. The time between that realisation and BR itself can vary and it's in that period that you need to be careful about your spending, once you know you are insolvent.

Please try not to worry about this Molly.

NeverAgain_2

Molly,

Yours sounds like what we could call a routine domestic bankruptcy.

So as JCS, Fermi, and Inan say, it should proceed smoothly and certainly without any restriction orders.

molly1412

Thank you everyone

As I said a good night sleep and these comments have helped here's hoping today a positive day I just want court and or interview over but it will be another month before we have enough money for fees etc so in that time I'm just sat worrying and reflecting I'm sure I'll feel better once I know what we to expect

alastairq

Hi........for many many people, BR as an option if often considered way way before actual action is taken....even whilst still servicing debts.

There comes a time when one realises that....with the given debts, one is on a 'hiding to nothing?'

The actual decision to petition for BR, may not have actually been made....certainly things may not have progressed as far as filling in the forms is concerned, but BR probably has been added to the list of options for dealing with the debt situation, eh?

Therefore, at that stage, it is still reasonable to continue using credit as before, to simply keep surviving.


The process of sorting one's financial machinery out, in order to reduce any problems the actual BR might bring, works very well without BR being the case.

[I refer to changing one's bank, etc, etc.]

Many folk are technically insolvent months or even years before BR is finally petitioned.

But insolvency as a fact, is only considered on the actual day of the BR petition.

OR's realise this, no doubt.

So please let us not go scaremongering on here......after all, not only do we have to consider the OP, but also the hundreds of others lurking?

finito

Molly, you have nothing to fear but fear itself.

I went BR some 3 years ago (not really sure when it was now to be frank!) and it was the best thing I ever did believe me.

I sleep like a stone again, I owe no one nothing, and I live pretty darn well all things considered.

Get it done, and start you're debt free life. I wish you all the very best.:beer:

out_of_cash

Molly 1412

you have nothing to worry about , i bought a case of wine and food for xmas pre my br of 2008,i figured my family deserved a good xmas more than the banks.