You need to owe in excess of £700 to declare bankruptcy however there are other althernatives such as Debt Relief Order if your debts are less than £15k and you have no assets and less than £50 per month disposable income. You could always consider an IVA or DMP.
Best thing is to speak to an expert who will go through everything with you. Visit CAB or chat with Viki who posts on here. The advice is free.
I apologise as well that I've had to change your avatar as you're not allowed to use the forum experts ones,
how much do you need to owe to declare bankruptcy?
Posted - 05 February 2013 : 01:16:46
