Hi, I am looking for general advice on bankruptcy.
My current situation is that my wife & I separated about 6 weeks ago. I am living at my brothers place for a while I work on a more permanent living arrangement. I have approx £38,000 of debt between credit cards & loans etc which I am looking to declare bankrupt. I do not own my home, my wife was the only one on the tenancy, I have no savings & am paying about £1,100 a month on my debts, £400 a month rent plus travel & living expenses & I also help my wife with a few of her bills because I was the main bread winner in the family. I only earn about £1950 per month take home. I don't really understand how the bankruptcy works when they decide how much I pay back? how is this calculated & on average in the UK; how long is it before you are discharged?
Because my living arrangements are temporary at the moment, none of my addresses have been changed yet. Would I have to change my address to where I am living before filing for bankruptcy?
Thank you in anticipation of your help
Kev
