Bankruptcy is an option that anyone can take if they owe over £750 to one creditor. But there are other options available to avoid bankruptcy, which you should always consider first. You would only pay in a bankruptcy after the fee if you could afford too, this is dependant on the court you go to and it is also up to the official receiver you would be appointed too. In regards to your employers knowing about you being bankrupt. They would more than likely found out from your Official Receiver, so it would be worth your while to make sure your employment is not effected by bankruptcy. Bankruptcy can sometimes affect you emigrating abroad. If bankruptcy is something you are considering, speak with your local court, but I would give us a call as well so we can have a look to see what is the best way forward for you to go. Hope this Helps.