I am in the building tarde and things have got hard and my trade account are overdue and I can't afford to pay them. They are threataing bankruptsy which I don't mind but I really don't want to go to court

Yes you will have to go to court, BUT who is making these threats?

I am in the building tarde and things have got hard and my trade account are overdue and I can't afford to pay them. They are threataing bankruptsy which I don't mind but I really don't want to go to court

Builder merchants and other people who I hol trade account with

What are the stages of going bankrupt because I really don't have a clue. I was told I wouldn't have to go to court but I would have to talk to someone over the phone about this matter

Please don't post the same thing on 2 different accounts as it makes things confusing.

Under UK law anyone can be made bankrupt for debts of a MINIMUM of £750.

Bankruptcy doesn't have the old stigma attached with it and can be a useful tool if your debts are out of control, BUT any assets you own will be included in your total worth, this includes your house, assuming you own it.

Further information here: http://www.insolvencyhelpline.co.uk/bankruptcy/bankruptcy-faqs.php

OK thank you. Sorry about postein twice new on here so don't really no how to use it yet

No worries there.
Least we got that sorted.

If you would like some more focused help with this, then these guys are excellent: Legal Beagles Consumer Forum (http://www.legalbeagles.info/forums/)