Hi Ana
Bankruptcy is definitely an option for you to think about - the only thing which puts people off bankruptcy is that they may lose their career (usually only a concern for people in the professions or police/army), they would lose their assets (especially their house) or that their name will be in the local paper (a bankruptcy notice - usually found in the small print near the classifieds).
You can petition for your own bankruptcy which costs about £500, the forms for the petition can be found online at
www.insolvency.gov.uk, you can even apply online.
However, there are other options available to deal with your detbs, for example an IVA or a debt management plan, if you want to avoid bankruptcy.
The best thing to do would be to speak to an advisor, there are many contacts on this site, for some free intial advice based on your individual circumstances.
Hope this helps
AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com
