I have been self employed for the past 2 years, but only made about £15k per year, and have been subsidising this through my credit card and loans, hoping profits would pick up and it would be worth it in the end. Although my income has risen, it has not risen enough to cope with the latest interest rates and I am now having to pay about £500 a month in interest alone. My last contract has just ended and I have no more income so I cannot even pay my min payments on my cards and loan. I have no 'company' to speak of that is worth anything as I just worked for myself and invoiced as a sole trader/consultant and the money just went straight into my personal account, don't own my own home - butowe £30k in debts I can't possibly repay. I have had 12 interviews for full time posts but been unsuccessful and I now have creditors knocking on my door. I tried to speak to them to negotiate and explain but they said they could do nothing whilst my income was nothing. Could I declare bankrupt?
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