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hammy0107 Posted - 03 June 2008 : 16:08:31

Hi all,

I would love opinions on how my situation will likely be percieved by the OR.

Cons: Unsecured debts of over £100k, no reasonable explanation for the majority of it, small amount of debt incurred whilst in a DMP

Pros: Most of debt was incurred between 2003 and 2005, I am putting over £10k into my estate through sale of shares in a business, My wife will offer to buy my BI in the house which should put another 3 to 6k into my estate, Did try for an IVA (between 15p & 25p in the pound) but was rejected, have paid into a DMP for almost 3 years without missing a payment,

I appreciate a lot will depend on the OR i get and maybe even their mood on the day but overall does a BRO look likely???

Thanks in advance
1   L A T E S T    R E P L I E S    (Newest First)
JulianDonnelly Posted - 03 June 2008 : 16:59:32
Hi Hammy,

You haven't done anything that tens of thousands of people haven't done before! The OR has seen it all, so as long as you're seen to cooperate fully, I would suggest a BRO is unlikely. I would however counsel you to think of a "story" as to the factors which led you to taking the debt on in the first place. It can be difficult as the reasoning behind the decisions can be lost in the mists of time (so to speak), but I'm sure you can come up with something palusible!

Regards

Regards

Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk

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