I went Bankrupt in May of this year and received my discharge last week.My wife an i had £47000 in unsecured debt,Usual story,wife had baby,stopped working living off one income, cannot meet minimum payments, Hammered by charges left,right and centre. No other option but to go bankrupt. We had looked at all options including iva, but if we missed payments on that we would still end up bankrupt.
we had a 51 plate Ford Focus worth about 3000 which we sold and bought a cheaper car for a £1000.the money was used to pay for the court and official receiver costs. In my interview i was informed that they would of let us keep the car as it was of no significant value.
All i say to you,if you have no assets and are honest with them you will have no bother.If you lie and try and hide things you may end up with a restriction order