bankrupcy ....any advice gratefully recieved

[candyfluff]

have 19 grand of debt i cant pay back so im making myself bankrupt any one got experience of this?

Have you been to the CAB or had any debt advice for this first? The CAB can negotiate on your behalf and get interest frozen on your debts. Banckruptcy can mean you could loose your house if you own it. It also takes time to repair your credit (years).

have been to see the c.a.b for 3 months and have come to the conclusion that this would be the best course to take ,my credit rating is shot to bits anyway so it doesnt mean that much to me.we are council tenants so dont have to worry about losing our home and i dont have any assets they could take either .am very scared though

You do have to pay to become bankrupt. The court can also order you to repay some or all of the debts that you are hoping to clear so it doesn't automatically clear them. Did the CAB tell you about all of the other options?

Oneboyonegirl is going through this at the moment. I would say that this is a last resort and you really should look at all the other options, such as IVA's first. 19K isn't a small amount but it isn't a huge amount either.

I shall be back later.

If your co-operate fully, you can be discharged from the bankruptcy in 1 year.

candyfluff - check out Debt Help UK website. They have a forum there with some very knowledgeable people who post regularly - at least one of them is an Official Receiver and very approachable. He will give you excellent advice.

Think the link is here. Click on the Debt Help UK Forum at the top of the page there.

thankyou will do