A word of advice about Bankruptcy: It is the same as becoming dead whilst still alive. You own nothing, you have nothing. Everything of any value is put into a kind of Estate. As for wiping the slate clean... yep, but in around 6 years time after discharge (providing you don't apply for Credit throughout that whole period of time). Any contact that you receive from creditors from the actual date of Bankruptcy: simply quote them your Court & Case number. If they persist then simply tell them to " F**k Off". The law is on your side once made bankrupt, it is PROTECTION. Don't be intimidated but just remember that any continuance on your creditors behalf to get money out of you once made bankrupt is ILLEGAL. Even contact with you is illegal. Good luck, Peter.

Hi Loaf, Speaking from personal experience... Firstly withdraw ALL your money from every avenue that you can - this includes totally abusing any credit facility available on your credit cards. Get as much money together IN CASH as you can. Bankruptcy costs around £500 nowadays and unless you can pay that then forget about planning a 'new start'. Leave IVA's well alone - they are a con and if you research the net result of taking out one you will find that the MAJORITY of people that use this facility end up going bankrupt anyway. HSBC are one of the worst people to owe money to, they simply are a disgrace no matter what they tell you over the phone. (I owed them circa K£20 alone). Bankruptcy is not an easy option but it IS a legal way to get yourself back on your feet. It offers you protection in an otherwise hopeless situation. I recommend it if all else fails but remember that your Official Receiver is also your best friend, don't try to con him/her and be honest to a fault. The consequence of giving false information in a bankruptcy is ultimately Imprisonment. That is because if you chose that route you are messing with The Crown - bad move. Anyway, mate, good luck and there is light at the end of the tunnel, believe me! Peter.

Hi Everyone, Just thought I'd say hello and introduce myself as a former Bankrupt & one that has learnt that 'Not all that glitters is Gold'. Hopefully I may be able to offer advice through my own experiences and I will definitely be scanning other threads on this site to keep up to speed with things in general. Regards, Peter.