Hi Raymond - as Viki suggests - have a read of the site Bankruptcy is pretty difficult to explain in general tems as it is a very personal solution to a very personal situation and the advice or outcome for each person may be completely different - as most peoples situations are different! If you would like to post some more information as to your position ie employed etc homeowner, income,debt we will be able to advise further. Alternatively you can contact one the experts direct and have a chat through your own personal situation and options (access via 'experts' button on left hand side of the screen)
regards, Melanie
Melanie Nicholas CertDR 30 years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms.