Bankruptcy or no Bankruptcy??

[Indadhanu]

No, I wouldn't do it.

Bankruptcy isn't just something that clears your debts and then gets wipes after a few years. It's with you forever. FOREVER. You can apply for finance/loans, but they'll just look at your credit history (and some 'bankruptcy list' with your name on it )and go "ah, nup, we actaully want our money back". Bankruptcy tells people that you don't pay your loans. Because when you declare backruptcy, your loans DON'T get paid, so the banks/companies who loaned you money don't get it back. I think they can take assets if the loan/finance was for a car, they can take the car too. You'll have a hard time convincing people that you will pay the money back. Plus you'll have restrictions on how much money you can have in the bank, the value of the car you can own etc.

Maybe you need to think about a job? Possibley part-time while your partner is at home? so theres no childcare fees. Or one or two days a week. Like Astrid said, it might not seem like much but it could make a little difference.

I think, bankruptcy might seem like the 'easy' way out, to get rid of debt, but I don't think it's worth it. It really should be the absolute ABSOLUTE last straw...