Bankruptcy questions

pipucusu

Hi all
Newbie here. I have several questions to ask.
Currently I stay in Scotland however as of next week I will be moving to Wales with my partner, we won't have a permanent place to stay until one of us finds work so we will be staying with family and friends for the time being. I am not working and neither is my partner I lost my job 2 months ago. We are financing the move off my partners savings for the time being and I have enough to pay my bills next month.
My overall debt level is just under £4000. I have a f3w job interviews lined up but want to clear my debts so as I can start my life again.
Should I wait until I move to Wales to file bankruptcy and once I have a job or should I apply for it in Scotland as I am aware I can apply in Scotland as long as I have lived here within the last 12 months. My main issue is I want to stop the debt now and get back on my feet.

Sonic101

Hi there
My first thought is that £4000 seems a small amount to go bankrupt over, and the fee is £680 - which is a significant proportion of the overall debt. Especially bearing in mind that you may well find another job, it seems like you could be using a sledgehammer to crack a walnut. 
Bankruptcy can be a good solution if you have big debts and no way clearing them in a sensible amount of time, but it is a last resort and there are other options - such as debt management plans or a debt relief order (DRO), depending on your circumstances.
Have you contacted an organisation such as National Debtline (https://www.nationaldebtline.org/) or Step Change (https://www.stepchange.org/)? If not, I would recommend you do so as soon as possible; they are helpful and will be able to go through your budget and options in detail. 

sourcrates

Oh my word, you can`t go bankrupt for 4 grand, that`s a seriously bad idea, what about debt management, or if you have no income presently, would you qualify for a debt relief order ?

To be fair, its such a small amount of money you could just leave it alone for now, after informing your creditors in writing you are currently unemployed, it would not be pursued.

Forget any idea`s of bankruptcy, who on earth put that idea in your head ?