If you don't have the money to pay back your debts or have so little that it will take you years, bankruptcy might be one of the options available to you.
Bankruptcy is a serious matter and should only be used as a last resort. You do not have to become bankrupt just because you are in debt.
This guide explains the bankruptcy process and how it affects your business, home, income and bank account. It provides information to help you decide if bankruptcy is the right decision for you.