superchef
first off neither you nor your creditors want you to go bankrupt the only people who make the money is the lawyers.
so my advice is first find a friend who is in business they will have a accountant who will most likely do a bit of bono work for you and give you good advice.
Then sit down and write the list of losses and to who.
after this work with your creditor (not against them as the will usually have bigger pocket then you)go to them with both the accountants advice and your list.
confidence is the golden rule, you go into battle with a sword not a feather.remember that you owe them the money and they would like that money back so they will happy to work thru this as much as you are.
alot of people think that bankrupt is the best way out but in reality there are alot better options and you need to work them out.these forums are a good start.
There are alot of business people who for no fault of there own were in the same situation as you and for alot more money then you are talking about.
Who worked out with creditors and have made very successfull business without any blot on there credit reference.
This is not a battle lost, look at it as just regrouping and next time work to a plan.
Lawrence

lawrence