help, can I go bankrupt?

johny2008

Firstly I wil say sorry if someone else has put a thread like this on here but i could not find it,

I will keep this short but please can someone advise me here.

Last wednesday I lost my job, as far as i was cocerned it was a secure good payed job untill i was called in the office and that was that, ( I wont get into it but I recived a contract termination notice)

I had two weeks before bought a car and including finance came to about £18000 which i can not return because it is a non cancel contract
£330 month

i owe £4000 on credit cards

thats about it really, no jobs around at the moment so in the next month i am going to be up the creek without a paddle, I have insurance for loss of job / earnings on the credit card but have no insurance on the car and the jobs around here dont pay well and the finance side for the car wont budge on what i am alredy paying, If i went on the dole ( which i am sorting) i will not be able to pay for the car or car insurance, if i give car back i will still owe the money if the car is reposest i still owe the money so i am thinking of going bancrupt.
I dont know if its good or bad idea but need to clear everything and start affresh,
hope this makes sense

please help.
john

RAS

Hi

You need to talk to one of the debt charities. http://www.moneysavingexpert.com/loans/debt-help-plan#help

halight

Hi give debt line a ring or speak to your local CAB...
Thay will tell you best best why to go and what your rights are

Good luck mate

johny2008

Will try them, thank you.