reckless behaviour before bankruptcy

tigerfeet2006

alltaken wrote: »

Did you only become aware of the real possibility towards the end of your bankruptcy, or well after being discharged? I get that you knew it was likely but did they surprise you after thinking you were discharged and clear?

They have to deal with it before you are discharged, unless it is very complicated and they feel the investigations are going to take longer than the BR and then they can apply to have a suspension of discharge while they work on the problem but it is as rare as hens teeth that they do. They will fully investigate whether they have reason to give you one and this obviously takes a little more time than the normal reasons for BR investigation. They will also call you in for a face to face interview normally before they issue one. Also they do it at the end of the BR as it makes more sense because you are extending the conditions of BR so it would be daft to issue it at the same time as you go BR.

alltaken

tigerfeet2006 wrote: »

They have to deal with it before you are discharged, unless it is very complicated and they feel the investigations are going to take longer than the BR and then they can apply to have a suspension of discharge while they work on the problem but it is as rare as hens teeth that they do. They will fully investigate whether they have reason to give you one and this obviously takes a little more time than the normal reasons for BR investigation. They will also call you in for a face to face interview normally before they issue one. Also they do it at the end of the BR as it makes more sense because you are extending the conditions of BR so it would be daft to issue it at the same time as you go BR.

Thanks - it's not possible to receive a BRU after discharge at all without knowledge of it coming? I ask because it would be a bit much to let people think they're free and clear, then boom we've been busy sorry for the delay but....

A4445

alltaken wrote: »

Thanks - it's not possible to receive a BRU after discharge at all without knowledge of it coming? I ask because it would be a bit much to let people think they're free and clear, then boom we've been busy sorry for the delay but....

I was called in for a face to face interview and it was discussed then....when are you due to be discharged. My BRU was dated the 14th of October and I was discharged on the 9th of December. I think I received the paperwork in the September was quite some time ago can't be totally sure on the dates! Hope that helps put your mind at ease!

My BRU wasn't for gambling but for wreckless spending stemming from some serious mental health issues at the time.

tigerfeet2006

alltaken wrote: »

Thanks - it's not possible to receive a BRU after discharge at all without knowledge of it coming? I ask because it would be a bit much to let people think they're free and clear, then boom we've been busy sorry for the delay but....

The Insolvency Service are not out to trick anyone. The rules are written out clearly for anyone to read. All proceedures in issueing a BRO/U have to happen while you are BR unless they apply to court before discharge.

https://www.gov.uk/government/publications/bankruptcy-restrictions-orders-and-undertakings/bankruptcy-restrictions-orders-and-undertakings

Cobalt77

A4445 wrote: »

My BRU wasn't for gambling but for wreckless spending.....

Which actually sounds a far more enjoyable way to go BR than in my case

standalone

I wonder if it is within the rules to apply for a credit card while a BRU/BRO is in place bearing in mind you are not allowed to apply for credit in excess 500 pounds ?
Or would it mean you would have no chance of being excepted anyway if you have a BRU/BRO.

Cobalt77

standalone wrote: »

I wonder if it is within the rules to apply for a credit card while a BRU/BRO is in place bearing in mind you are not allowed to apply for credit in excess 500 pounds ? Or would it mean you would have no chance of being excepted anyway if you have a BRU/BRO.

Actually, you are allowed to apply for as much credit as you like while under a BRO/BRU - the rules state:

you can't get credit of £500 or more without telling the lender that you have a BRO

However, in reality, virtually all lenders are going to credit check you and find out about your BRO/BRU anyway.

More info here: https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/bankruptcy-restrictions-orders/

A4445

standalone wrote: »

I wonder if it is within the rules to apply for a credit card while a BRU/BRO is in place bearing in mind you are not allowed to apply for credit in excess 500 pounds ?
Or would it mean you would have no chance of being excepted anyway if you have a BRU/BRO.

While my BRU was in place I didn't apply for any credit at all, I didn't want to risk it and it was pointless even applying it would have been an automatic decline anyway. Even after the BRU was satisfied I didn't apply for anything for a further 18months. I didn't think I would get any type of credit til it was off completely.

I was wrong Capital One didn't care and I've got 2x1500 limits one on their classic card and the other with Ocean finance was totally shocked they gave me over £3000 credit limit in total. I pay back in full every month as the Apr is 34.9%. I was also approved for a Barclaycard Inital and a Very.com account. Both barclaycard and Very only searched Equifax....for some reason the BR went off there some years ago and the BRU wasn't reported guess I was lucky there! Well on the way to rebuilding so I can get a mortgage in the next few years!

I learnt a hard lesson and it took me almost 6 years to stomach even applying for credit. Fortunately I'm now really good with money...I've saved for a new car and bought outright and have a nice nest egg.

Cobalt77

The other card which doesn't seem to give a flying fig is that Vanquis one - so long as you have a pulse and have been discharged, they will give you one (again, it has the usual 30%+ APR)

I used to think these APRs were a complete peace take. Then they invented Payday Loans

National_Debtline

Hi sosilly81

sosilly81 wrote: »

Thanks everyone for the replies. I feel a bit better now.

Amiga- I had already seen your post and read through it twice. You are an inspiration.

So I have my first GA meeting tomorrow which should help a lot I hope. I also think the gambling came as a result of stress/depression. Have been to the doctor and been prescribed something to help deal with this too.

I am just worried that as the loans were so recent I read somewhere that they could do me for fraud. I didn't lie on the forms. Except on saying that they were for consolidation which was the intention but I slipped up. Tried to win a little bit with a small bet then chased my losses and lost it all.

The past week has been awful. Constant worrying, not eating or sleeping. I am determined to get my life back on track and just hope the bankruptcy goes smoothly. It will be on the 17th February.

You've had some really useful replies on this thread, and I would agree with the general consensus that fraud-type proceedings are very unlikely to arise here. I'd also agree, however, that a BRO is a strong likelihood. Very best of luck with your GA sessions.


Dennis
@natdebtline