Hey guys, I was wondering if someone here would be able to help me with some advise? I started my own business (a video game business) in June last year. I got a business loan ($5k) as well as a hire purchase for the equipment and we created out first game that was released by the end of last year. I had a problem with the release and cutting a long story short, it isn't selling and has make no money. I have tried every way to raise more money but it's really not happening and I am now out of money completely. I am having to accept now that I may have to declare bankrupt but when I looked into it, it said I will have to pay around £600 to do so but I don't understand, I have no money so how am I supposed to pay this? I have heard about receivership & administration as well but I am not sure i I can do any or if they will help. Basicly, I have no belongings or money, I owe a large amount to different people (actual loans, not just borrowing from friends), Can I declare bankrupt? What would you advice?