Answer to Buggerlugs.

[TEAK36]

I could not post answer to Buggerlugs question because there was no submit option. One option your partner has is to declare himself bankrupt.I know in most peoples opinion this may seem a little extreme, but I beleive the bankrupcy laws have changed in recent years and your partner would only be 'blacklisted' for one or 2 years,after which time the slate is wiped clean.There was a programme on tv a couple of weeks ago about it,and it looked like it was a very easy option to take.As someone who was once heavily in debt,I know how it feels to end up with no money because of all the payments that have to be made.Please try to persuade your partner to cut up any credit cards.Its not an easy thing to do,but it will help.

[theo_wyvern]

its an easy option to take but not always the best. often you can enter into voluntary arrangements whereby the debt will be frozen and you agree to pay off an amount at a time or an amount in the pound. this however will generally only be acceptable if payments are maintained. with bankruptcy its important to remember that you can only earn a certain amount, anything above it is taken to pay off your debt. i can't be sure but also think the bankruptcy period is longer than two years. hope this is useful

[theo_wyvern]

just as an add on - the arrangements often need the approval of all creditors.