I get 950 per month working 40 hours per week I pay 330pm rent 90pm council tax 80pm gas electric I have car finance 250pm insurance 150pm I owe 1800 in rent arrears 1100 in council tax 1600 to abbey national 1500 to natwest 900 to provident 300 to shopacheque littlewoods 490 bt 400 ntl 350. I also spend 150pm on food. My partner is unemployed and gets 550pm tax credits and child benifit we spend 45pm nappies and wipes 60pm on baby clothes would you think that declairing myself bankrupt is my only way out because I can't afford to pay theese debts
Just a quick note regarding the rent arrears - if you try to include these in an insolvency you are likely to have your tennancy cut short and will need to find somewhere else to live.
This will be difficult if you haven't got a deposit, are bankrupt and cannot get a reference from your current landlord.
Can you check to see what sort of finance you have on the car - is it HP or a fixed sum loan agreement?
Also depending upon your finance agreement and how much is outstanding on the car you may qualify for one of the new Debt Relief Orders coming out next week - managed by the CAB.