I AM NOT A FINANCIAL ADVISOR BUT ...

If you go down the bankruptcy path, you declare everything or you will end up in trouble - possibly into fraud proceedings. You cannot have it both ways I'm afraid. If you want to write off your debts, you face six years plus of hardship and a long way back to fiscal purity.

Self-employed or not, declare or face the music if they find out, and be very aware that HMRC are not daft and neither are the creditors.

This is not as complicated as it is made out to be. If you have an income, you owe anything to your creditors before you get to save anything - that is the choice you make.

SHARK!