Considering going Bankrupt

bobbie78

start a spending diary now so you can see where every penny is going. If you are going to go bankrupt you need to change your lifestyle so that you just don't run the debt up again. Where did that 40k go? is it student debt or what kind of debt? There are people paying off similar amounts to you without going bankrupt just by making a huge change in their lifestyle. (not having a go at bankrupt people I'm in the same boat too).

So get a little book and write down every penny that you spend every day and see where your money goes, is it on cans from the vending machine and sarnies from the cafe at work? or ciggys and booze or just having a tesco addiction and just not realising just how much you spend in there each month on things that you don't really need to survive like dvds. Unless you can honestly say you know where your money goes, being made bankrupt will just wipe the slate clean for it to be filled up again as soon as you can get a new credit card again and deserve a holiday because of everything you've been through.

Now re-do your SOA including things like travel (do you have a car? mot and insurance or bus fares even) birthdays/xmas, dentist trips, clothes, mobile then we can see where your money is going and better advise so you end up spending money on things you really want to.