– You cannot see a way to pay your debts
– You do not have many belongings of value and there’s little or no equity in your home
– It is unlikely that your situation will improve
– You live or carry out a business in England or Wales, or have done so at any point in the last 3 years
NB: There is not a minimum amount of debt you need to be eligible. If your unsecured debts total more than the things of value you own, then bankruptcy is an option for you. Unsecured debts include things like credit cards, personal loans and store cards.