bankruptcy used to be the last resort, a major embarrasment.

nowdays people do it all the time.

seems like he and his misses have been living beyond their means for a while? trick is not to spend what you havnt got in the first place really. credit cards should be banned, i dont have one never will!!

sadly tho ur mate is beyond that advise, as hes spent the dosh!

can he not remortgage his home, or at least see a fininancial adviser/bank manager. they may be able to help him or at least concilidate some of his multiple loans!

bankruptcy is not the answer in my opinion for your mate!