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[MO2000000]

My business failed in 2005 leaving me with personal debts in excess of £100k. I should have bitten the bullet but I thought I could rebuild and repay rather than going bankrupt. I've spent the past 4 years couch surfing and being supported by friends and family and have heard nothing from my creditors as I effectively disappeared off the radar. No address / job / bank account etc.

It's now clear to me that this was a mistake but how would the powers that be view this. Is bankruptcy still an option for me - I have no bank account or any of the paperwork they will expect for a start.

If I wait for another couple of years, will my debts be unenforceable anyway? A chunk of this is owed to the inland revenue and I'm not sure if this would be included.

Sorry it's such a mess (so am I) - I really did think that I would be able to build a new business and trade out of this bit it's now not going to happen and the goodwill of friends & familiy is exhausted (to be expected) so I have decided, one way or another, to try to deal with this once and for all.

I would appreciate any advice and help you may be able to offer me. Thanks.

[Hg]

Hello

If you go bankrupt the debts including the tax would be covered.

I would never recommend trying to wait until they are time barred, especially if creditors don't know where you are. They are likely to make an effort to find you just before 6 years are up, and may make an application for a CCJ (which gives them another 6 years) at an old address without you immediately knowing they've done it.

As long as you haven't done anything dodgy with money over the last 4 years, it shouldn't lead to problems. They can't criticise someone for not working.

[MO2000000]

Thanks for the advice. I've done nothing "dodgy" with money over the past 4 years but I have been living in a cash society on handouts and loans - breadline stuff, less than £4k a year - and I haven't claimed any benefits at all. So I simply don't have bank statements etc for the last three years to produce.

[Hg]

Have you got housing sorted out now?

If not you may want to do this before you go bankrupt (if you decide to do this) as it may be harder to sort out afterwards.