Cant say i've checked their right to collect the debt. I just assumed. I'd rather just go bankrupt and start again rather than having all the debts hanging over me forever and day. Think i'll just declare myself bankrupt. The next challenge is raising the £400.

The dca is capquest and the debt to them is £2500. I know it's not a lot but like I said the total debt to various different companies is about £20k which when you are bringing in £500 a month and trying to support a family is a hell of a lot and theres not much hope of ever being able to pay it back.

Thanks for your quick replys. No I don't own my own home and have no assets of real value. I'm married with 1 child. I was going to wind the company up myself anyway. This is the 3rd notice I have had off this debt collection company but the 1st one that has been hand delivered. I was hoping that this meant that they were serious this time. I might just declare myself bankrupt anyway. Is there any difference in the after effects of being made bankrupt or doing it myself.

Hi all. Just looking for a bit of advice. Had a knock at the door this morning from a bailiff with a letter for me. Opened it up and it was a statutory demand for bankruptcy from a dca. I was quite happy with this as I have been considering going bankrupt for a while as I has about £20k of debt and next to no income. Anyway. I also run my own Ltd company from home which I am about to cease trading as I have been offered a job with decent money. This company also has debt of about £2k to banks and the tax man. My main question is, if I go along with the statutory demand and go personally bankrupt will this also wipe out the business debt as I am the sole shareholder and will be disqualified from being a director this killing off the Ltd company as I am the sole owner\ employee\tea boy. Or will it be better for me make myself bankrupt and let my business creditors wind up the company for me. Hope this makes sense.