Can we talk BRO/BRU stories?

Justme4

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

fatbelly

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

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

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

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

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

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

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

RAS

frosty1970 said:

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.