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maizie
Average Member
United Kingdom
566 Posts |
 Posted - 22 August 2008 : 08:57:47
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How does a BRU work? If I get one and say they give me 3 years, is this 3 years on top of the 3 years I would pay in an IPA?
Maizie |
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BankruptC
Senior Member
1030 Posts |
Posted - 22 August 2008 : 09:06:44
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Hi Maizie,
No, in that case it would be three years from when they issue it. They seem to issue them at the end of the 12 month bankruptcy period. Your IPA would carry on along side the BRU and would just mean that the bankruptcy restrictions (no credit over £500 etc) would continue for the period of the BRU.
Hope that helps,
CG. x
PS Maybe we need to starta new thread for admin so they can swap our email addresses?
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 22 August 2008 : 09:10:21
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So if Im in an IPA for 3 years then on the 12th month (just before being discharged) I would have two years IPA left they decide to give me a BRU/BRO for 3 years I would have 2 years plus another 1 for the BRU/BRO? is that correct? I think I've confused myself!!! 
Maizie |
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BankruptC
Senior Member
1030 Posts |
Posted - 22 August 2008 : 09:15:45
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Hehe,
Yeah, if they issued the BRU at the end of your bankruptcy period, just before the 12 months, you'd still have 2 years left to pay, but a further 3 years (if this were the length of the BRU) of restrictions.
Does that make sense?
CG. x |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 22 August 2008 : 09:23:48
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Hmmmmm Im not quite getting this. Ok lets make it simpler for little old me...
If I had an IPA for 3 years and they decided just before I got discharged (12th month) I was going to get a BRU/BRO for say five years would that mean:
* Continue to pay IPA for a further two years
* Have BRU/BRO for another 3?
With a BRU/BRO I am assuming you would carry on with your IPA payments for that amount of time?
Maizie |
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BankruptC
Senior Member
1030 Posts |
Posted - 22 August 2008 : 09:28:50
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Ahhh I see where the confusion is. No, the IPA is only for the 36 months, regardless of BRU.
Is it clearer now?
CG.x |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 22 August 2008 : 09:39:34
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hahahaha nope! I am so not getting it this morning!
I have an IPA for 3 years and a BRU/BRO for 5... do I pay for 8 or 5 in total?
Maizie |
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BankruptC
Senior Member
1030 Posts |
Posted - 22 August 2008 : 09:44:31
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Haha!
OK...
Your IPA is for 3 years. A BRU is totally separate and does not mean you pay anything. It just means you are still under the restrictions of bankruptcy, like not being able to get credit for more than £500 etc. If you got an IPA and a BRU for 5 years, you would still only pay for 3 years. For the length of the BRU (5 years in this example), you wouldn't be able to get credit more than £500, hold certain positions etc.
Any clearer now?! |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 22 August 2008 : 09:50:24
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yaaaaaaaaaaaaaaay I'm finally getting it!!!
So even if I get a BRU/BRO for 5 years it wouldn't mean that I would pay for 5 it would just mean I wouldn't be able to get credit etc. for that amount of time!!! I wouldn't want that anyway!!!!
Thank you!!! 
Maizie |
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BankruptC
Senior Member
1030 Posts |
Posted - 22 August 2008 : 10:52:38
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Haha we got there in the end!
CG.x
PS.I've just emailed you!
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BRU/BRO
