BRO/BRU advice please

bokeh

I am going to be going through the BR process in the next couple of weeks. I mentioned on another thread I have had severe problems with gambling and recklessness which in all likelyhood is going to result in a Bankruptcy Restriction Order or Undertaking (BRO/BRU).

I would like to know the following:

1) With a BRO/BRU, can the OR still have a right to any money in my account?
2) If I am given a BRO/BRU, will I still be discharged prior to the end of the BRO?
3) Can I be given an IPA/IPO if my income improves whilst under a BRO (for example, if after 4 years whilst still under a BRO my income improves, can the OR enforce an IPA?
4) Am I still discharged after 12 months or am I only discharged when the BRO is finished (possibly 15 years?!)

I don't mind the restrictions like not being a director, not borrowing more than £500 without permission, not being employed in certain professions. What I don't want is the OR having access/right to my bank account 5 or 10 years later?

I won't be earning enough for an IPA for at least 3 years but possibly will be earning enough in 5 years, I just hope the OR won't have control over my finances at that point to the extent where any surplus will belong to them.

tigerfeet2006

1) only in your BR year.

2) you are only BR 12 months.

3) no, only in your BR year.

4)yep! Only BR for 12 months. The only reason it would be more is if you didn't cooperate with the OR and they suspended your discharge until you do.

Hope that helps.

lilybankrupt

My understanding is the BR 'process' for a BRO/BRU is totally separate from the process for an IPA. Both follow their own rules, and so having a BRO/BRU won't impact on the IPA or lack thereof, and an IPA has no impact on a BRO/BRU. Put another way, your BR should follow the same process whether you get a BRO/BRU or not, it's just the BRO/BRU adds extra restrictions as you already know.