Can someone pls assure me its a max 3yrs for bankcruptcy ??

MissBear75

thanks for your help, i thought my name would be on the register for 3 years and then i'd be discharged...
I was advised at the time that some people are discharged after a year but as i had recieved no notification to tell me otherwise and as i'm still making payments i presume i'm not discharged
I just panicked, i got my payrise its been 3 months and they havent got back to me with a revised figure and i just thought god they are going to make me pay this for even longer, i guess i'm just afraid there will never be an end and a bit daft
but i appreciate your help

sniggings

OP I think you are getting mixed up with BR and IPA, your BR is from the court date until discharged, which is 12 months or less if you are lucky to get an early discharge, an IPA lasts a total of 3 years but you are no longer classed as BR, BR is when you have conditions placed on you, such as not being a director of a business etc, once on an IPA it is only dealing with your income and expenses, no other condition so you can safely claim if asked you are no longer BR, once past the 12months or early discharge.

dojoman

Who did you get advice from prior to going BR?

MissBear75

I was declared bankcrupt aroun Aug / Oct 2010 and was given a ref 555 of 2010. I started making monthly payments to the official reciever 2-3 months after that, when i contacted them about my payrise i asked about early discharge but was told mine would run for the full 36 months and was told 'you cant expect to run up debt and get away with it'
Without sounding like a drama queen i was so low and stressed at the time it was bankcruptcy or 'top myself' it was that bad at the time and i wanted an end to it all, i went to the citizens advice but i found them little help infact i found i had no one to talk to.
Close to three years later i can see the light at the end of the tunnel and i guess i just want things to run smoothly and it all to be over with.
It was an end to the constant calls/interest charges but you still dont sleep easier at night, outside the court people were celebrating becoming bankcrupt, for the some it was their second time but i still felt awful.
I dont know the in's and out's but i know it was the best thing for me at the time and i just want to have it all behind me:o

sniggings

Early discharge is from the conditions of BR not from the 3 years IPA.

Someone can get early discharge but they still pay their IPA for the 3 years if they have an IPA, an IPA can run less than 3 years but that has nothing to do with early discharge, it's rare for an IPA to be set for less than 3 years, the rule is an IPA can only run for a maxium 3 years but can be less but as said they nearly always are set for the full 3 years.

MissBear75

i see, thanks for clearing that up this seriously is info i didnt know, aslong as my IPA then is for 3 years max i'll be a happy bunny.

Thanks guys