Hi, not me personally but while I was living at home my mum went bankrupt. I can't say anything positive came out of it and she ended up in the same situation a few years later. Now she is unable to get any form of credit, which is probably a good thing for her.

I hope my post doesn't sound nasty but my mum has underlining issues that lead to her debt and she still struggles with these issues thus going bankrupt did not assist her to get things together and has left a lasting impact on our relationship. She was advised to go bankrupt twice by financial counsellors. Just before the period of time was up for the last one my grandmother died and left her a significant amount of money which was all given directly to the debt collectors as per terms of the bankruptcy which was another mental set back for her.

I understand the stress of money and debts and that horrible feeling of having to pick and choose what to pay and what not to pay but I would encourage you to try every other option before bankrupcy as it really does leave a mark on the your future prospects. Wishing you all the best and hope you find a solution that works for you!