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m_o
Starting Member
47 Posts |
 Posted - 22 September 2008 : 21:20:00
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| I wnet bankrupt in Aug 04 due to falling pregnant and not getting full maternity pay to pay my bills, my partner has just currently gone bankrupt and he has lost the house i am struggling to pay my bills again and woundered if i could go down the same road again? |
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John
New Member
United Kingdom
73 Posts |
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m_o
Starting Member
47 Posts |
Posted - 23 September 2008 : 12:55:39
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Can you please tell me what a BRU/BRo is please?
Thanks
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 23 September 2008 : 14:46:12
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Hi
A BRU is a Bankruptcy Restriction Undertaking and a BRO is a Bankruptcy Restriction Order. These will extend the period in which you are subject to the restrictions of bankruptcy.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 24 September 2008 : 08:00:32
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| Just a quick question, if you have been bankrupt before but paid back all the debts, does that still mean a BRO. The reason I am asking is that a work colleague has considered doing this, he was bankrupt 10 years ago, but eventually sold his house, therefore all the debts have been paid. Does it still count as a 2nd time? Thanks |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 September 2008 : 08:46:13
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Because it was 10 years ago it would not be a factor. He was still bankrupt unless he annulled the bankruptcy on the basis of all debts paid in full, but because of the time lapse it would not matter in this case.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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John
New Member
United Kingdom
73 Posts |
Posted - 24 September 2008 : 08:49:53
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Hi
it would not class as 2nd time around if the debts were repaid in full, the trustees fees were paid in full, AND the bankruptcy was annulled through the courts. That said, if there were no anulment, the fact that the repayments could be evidenced and that it was 10 years ago (as opposed to being within the last 5 years) would probably mean a comparitively short term BRU / BRO, probably 2 to 5 years.
They can last a maximum 15 years.
(Have just read Suzanne's post so I would happily bow to her greater experience in these matters)
www.Bankruptcyhelp.org.uk
0800 078 9367 |
Edited by - John on 24 September 2008 08:51:57 |
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can I go bankrupt again ?
