Important information about bankruptcy
Bankruptcy should not be taken lightly as it is a big step and any assets you own (e.g. car/house) will usually be sold. Bankruptcy will also be registered on your credit history for six years and could affect your job.
In some cases, you are asked to make monthly payments towards your debts from your available income. This is known as an income payment agreement, and can last for three years.
You should always get expert advice before making the decision to go ahead with it.