I'm about 18,000 in debt, and its growing, my account is overdrawn max this month, bills coming out left, right and centre, and using my credit card. I'm in a low paid job at the moment, and have hardly any surplus income. I have a questions, I took out a timeshare 2 months ago, with someone else, the money is coming out of that persons account, not mine. we haven't started paying it yet, paid it's 25 a month each for 5 years, wil I have to declare this to OR? I dont' want to affect the other person, cause it's not really an asset, we haven't paid it yet, so it's not an asset.
I'm way above my head, and want to know the procedures for going bankrupt?
PLease help me.