i was watching "bank of mum and dad" the other day and this guy owed over 100k and wanted to go bankrupt. His accountant said that if his credit card statement etc showed he spent the money here there and everywhere ie:clubs,shopping etc then he may not be able to get credit for up to 15 years!! so he ended up selling his clothes,car and house to avoid that!

so i wouldn't go bankrupt unless you REALLY had to. He'll have to sell his cars and everything before considering that - i would.