My first post here. I have been running a good business for many years but last year I suffered a personal tragedy and things went downhill rapidly. I made very bad descisions and, due to easy credit, ended up in a large debt very quickly. I have now got my head together but these debts seem to have happened like a whirlwind and I cant understand what I was thinking when I took them on. I have basically gone from quite affluent to hugely in debt in a short time. Struggling to fight my way out of depression and see a brighter day is not helped by this. I feel angry in part at the banks for lending me the money in the first place as I now realise I was not of sound mind! Don't knock it until you've been there, I am a strong, independant guy but my world fell apart in a single day.
Anyway, as I said, I'm getting through the greif now and want to move forward but I find myself heavilly in debt.
I am tempted to go bancrupt although I may have lied in small ways (about salary) to get various loans, I can't remember so I fear a long discharge period. Also, I don't want to bring shame on my family by having my bancruptcy printed in the local rag.
Is there a way I can go bust in another town (or country) so as not to affect my family? Also, is this my best option? I live in Bristol at the mo.
Thanks in advance. I feel so bad about my situation but am determined not to fall victim to depression. I have lots to offer others and now want a less complicated life with a simple job and time to offer my time to help people going through what I did. I also feel angry at the banks and would like to stick their loans where the sun don't shine. They were far to keen to lend me ( a depressed person with no assetts) money.