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Can we talk BRO/BRU stories?

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Obviously reality has smacked me in the face and the anxiety’s creeping in… 

I’d love to hear people’s reasons why they got either of these… I’m pretty sure I’ll be getting one when the time comes…. And I’ll suck it up… but hearing others experiences might help settle my mind right now


Comments

  • fatbelly
    fatbelly Posts: 22,941 Forumite
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    You can have a read of some stories here.

    https://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp

    They are pretty rare. Why do you think you'll get one?
  • ManyWays
    ManyWays Posts: 1,316 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    Bankruptcy isn't common, and BRO/BRUs are only about 2% of the people who go bankrupt, so you may get no one or only one person answering.

    You can see the reasons given for BRO/BRUs in the last 3 months here:
    https://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp
  • Justme4
    Justme4 Posts: 31 Forumite
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    fatbelly said:
    You can have a read of some stories here.

    https://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp

    They are pretty rare. Why do you think you'll get one?
    Iv done a longer post, but gambling mainly. Maybe a couple of reckless purchases .. not made whilst insolvent or even knowing I was going to end up insolvent… but still only a couple of months ago .. I did manage to have a read through these earlier today 
  • fatbelly
    fatbelly Posts: 22,941 Forumite
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    If you can show that's where money went and hopefully you had a reasonable prospect of repaying borrowing in your circumstances at the time you would probably be ok.
  • beeteecee
    beeteecee Posts: 66 Forumite
    10 Posts Photogenic First Anniversary Name Dropper
    Justme4 said:
    Obviously reality has smacked me in the face and the anxiety’s creeping in… 

    I’d love to hear people’s reasons why they got either of these… I’m pretty sure I’ll be getting one when the time comes…. And I’ll suck it up… but hearing others experiences might help settle my mind right now


    Not got one yet but convinced when the time comes it'll definitely happen...due to unfair repayment of debts or whatever the correct wording it. This is one of the reasons I'm still scared to 'press the button' so to speak...which is stupid I know. 
  • fatbelly
    fatbelly Posts: 22,941 Forumite
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    You would be very unlucky to get one. I helped a lot of people to go bankrupt pre-DROs and a few since. Never saw one
  • frosty1970
    frosty1970 Posts: 137 Forumite
    Part of the Furniture 100 Posts Photogenic Combo Breaker
    Partner (philnicandamy) been with the CAB a good few years now...and he said the same as Fatbelly he can only remember 2 people who he helped ended up with a DRO..both were due to non compliance with the reveiver dealing with case
    Philnicandamy's OH and mum to a two year old god help me! :p:p
  • RAS
    RAS Posts: 35,545 Forumite
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    Partner (philnicandamy) been with the CAB a good few years now...and he said the same as Fatbelly he can only remember 2 people who he helped ended up with a DRO..both were due to non compliance with the reveiver dealing with case
    Thanks, philnicandamy had been round a while when I joined.

    I do recall a recent query here about a 15 year bankruptcy, the OP had thought that they could just ignore the receiver, go to ground and it'd clear up. The BRO was just sitting there, waiting. 

    The only other case was way back when someone tried to hide assets and not co-operate with the receiver. Then declined a BRU.
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