Hi Douglas
Sorry for the delay in my reply - it has been the day from hell my side of the desk as I have been chasing delinquent bankrupts for most of the day. The joys of being an insolvency practitioner!!!
You do have to stop beating yourself up about your debts, and feeling guilty and silly. There were reasons for your spending, and whilst in hindsight you would probably have done things differently, we are here and now and have to find you a solution.
The bankruptcy advice you have been given in second to none by the other forum posters. Brassic is going to get a job offer from me before long as I think she knows more about bankruptcy than I do now!!! On balance it could be your better option financially - but you also have to consider the emotive and moral aspects if you feel you ought to repay your creditors something.
I would suggest a consultation with an insolvency practitioner, so you can have a two-way question and answer session, and this will make you feel a little more in control. There are a few firms who post on this site - or use iva.com where all practioners are listed and you can choose one you feel would be helfpul.
Advice does not cost anything, but peace of mind is priceless!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp