Have read lots about early discharge and just wondering about this part where creditors can object to ED..? Why would a creditor object? And what happens then? Is it just the case that rather than being discharged early you have to do the full 12 mnths?
I don't think creditors object very often as they probably don't even answer the ORs request regarding an ED.
The only reasons I can think of an objection are:
- The creditor thinks they may get some money i.e. you are not paying an IPA now but may before your receive your AD - You were somehow dishonest with the creditor before you declared BR - You used credit to pay the BR fee
The objection has to be legitimate so it can't just be a case of the creditor saying they don't want you to get an ED.
If the creditor does object with a legitimate reason then you won't get an ED and will need to do the full 12 months BR.
As Richard says an ED is a bonus rather than something that is expected. 12 months is not that long to be BR in any case especially when all of your debts are written off and you get a fresh start in your financial life.
If the OR is fully aware of the facts and has decided ED is apropriate then there is not much the creditor can do. The Creditor to have a vaild objection would need to come up with something that is new to the OR.
So therefore it follows that if you are 100% honest with the OR then there is nothing to worry about
If the OR is fully aware of the facts and has decided ED is apropriate then there is not much the creditor can do. The Creditor to have a vaild objection would need to come up with something that is new to the OR.
So therefore it follows that if you are 100% honest with the OR then there is nothing to worry about
Thanks everyone for your help.
I too agree ED is a priviledge and I woudnt expect it at all. I havent used credit for well over 6 years so Im hoping Id be slightly more in the 'good books' at least.
Creditor objecting ED...?
Posted - 03 February 2010 : 13:48:36
