I'm wonmdering if somebody could clear this up for me because maybe I'm a bit confused by what exactly bankruptcy entails. Am i wrong in thinking that if you run up a sh!t load of debt that you cannot pay it back, if you declare yourself bankrupt the debt is wiped clean but you can never have any sort of finance or anything again and you can't have a proper bank account? Is that true? Also, would it be possible to go mental and run up something like a Â£100, 000 on credit cards and loans and sh!t and put all that money in ofshore account (ie hide it in another country), then claim you wasted the money you borrowed gambling, then declare yourself bankrupt, have your debt wiped clean, then go live in a foreign (cheap) country with your hidden wealth and live out the rest of your days in luxury by the beach with a lump sum in the bank and maybe doing a simple, untaxing foreign job (like part time sunbed attendant) to add to your wealth a bit. Would that work?