The money will become part of the bankruptcy estate i.e. attached and used to pay off your creditors. It’s important to note that, with money to hand, you could get a very favourable settlement with your creditors, possibly as low as 25% of what you owe them. Better you do that than lose everything in bankruptcy.
Bankruptcy UK offers assistance at all levels and will also prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us for bankruptcy help on 01425 600129 for a chat about your circumstances.