Since theres a debt-collectors forum and we started talking about bailiffs and the debt-relief orders,etc, i would personally find it very useful if we discuss the bankruptcy process too. I kind of have a general idea about it, but would definitely like to know a lot more. What I'm not clear about whether you can decide to go bankrupt yourself or whether someone else can apply to court (or whateva) to make you bankrupt?

If you feel that bankruptcy is the only way to deal with your debts, then you can apply to becom bankrupt. But the creditors too could apply to make their debtor bankrupt. Bankruptcy process could be rather complicated and there may be other options available. It's always best to seek professional advice/opinion before making that decision.

When would the bankruptcy option be considered relevant? And is there a minimum amount of debt before one can apply to become insolvent?

Dont think there is a minimum amount of debt one's supposed to have before making one's own bankruptcy application. But of course, the less money you owe, the better chance there is to find an alternative solution to bankruptcy. However, if the creditors are thinking of making an application for their debtor's bankruptcy, they need to show that their debtor owes them £750 or more.

Tellmemore, bankruptcy is a complicated matter. On the one hand, filing for bankruptcy can become an effective solution for your debt problems. On the other hand, bankruptcy is a bad stain that will stay on your credit history for up to 7 years. This nearly equals a voluntary rejection from loans and credit cards on beneficial terms. So, you’d better think twice, and then over and over again (IMG:style_emoticons/default/wink.gif) . If you have any alternatives to filing for bankruptcy, consider the options.

Indeed, there is so much to consider before deciding what action to take.