I concur with Matty - Banruptcy is not to be considered except as a method of last resort. Also, you cannot go Bankrupt automatically - if the courts think you are doing this as a means of evading your debt, rather than because you genuinely ARE bankrupt they will take a very dim view of it - they would almost certainly refuse the Banruptcy petition, and make you pay costs (so you're worse off !).(posted 8226 days ago)If you are really serious about this, then go and see someone who specialise in Bankruptcy and prepare for a few years of sheer hell. You will feel as though you can't even go to the loo without asking someone first. No credit, you'll probably lose your bank account and be given one with limited facilities. No overdraft. No holidays. No nothing.
THINK VERY HARD ABOUT THIS BEFORE YOU DO IT.