should i go bankrupt. i do not have any assets.?

@amiksinha (1961)
India
September 15, 2006 5:30am CST
I owe around 400000 ($8000) on credit cards
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1 response
@Sweety76 (1596)
• India
15 Sep 06
yes provided you have no long terms plans to buy property, howerver I dont think you make yourself bankcrupt you stop paying your creditors and eventually they will make you bankcrupt you cant do it yourself, To Pollypock whats more irresponsible him for getting into debt or the credit companies for allowing him to take so much credit, the more debt they create the more interest they earn for there stockholders. I quite sure he got offered lots of credit to get him there should the credit companies not take some responsibility, perhaps stop at £1000 £2000 £4000 then say we are not sure you can pay this back so we wont offer you more money
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