Advice on bankruptcy

[Mitsi10]

Since moving out in jan for the first time I'm finding paying things difficult and not having money left over
I've recently been to the money matters team and due my 2nd meeting in 2 weeks I have choices to make
One being thinking about going bankrupt but I've no idea what this entails can anyone advise me on this

One of the other options is to put my main catalogue and credit card into a debt scheme thing

Bankruptcy is an expensive option if you have no assets.

You would be better going for a Debt Relief Order but that requires you to have debts of £15,000 or less and no significant assets. You must have lived in England & Wales at least 3 years. It costs £90 To do a DRO.

Check this Citizens Advice Link on DRO

I would be very wary of entering into a debt management scheme or IVA. Do not ever pay anyone to enter into an IVA. Go to Citizens Advice. they will help you get creditors off your back while you sort out the best thing to do.