I have debts of over £7,000 and find it hard to keep up with the payments
How much debt do i need to be in to declare bankruptcy?
You can go bankrupt for any amount over £750, however if your debts are less than 15K, and you have no assets and no surplus of income each month that exceeds £50, you could look at a Debt Relief Order.
A DRO is a form of insolvency for people whose debts do not exceed 15K.
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