Question Summary:
Some one suggested me declare bankruptcy and it is legal in and do not borrow money or pay interest in future. And ask ALLAH to forgive you

Question Detail:

Answer :

In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatuh
You may adopt any legal way of declaring yourself as insolvent. Also make tawba and Istighfaar.
And Allah knows best
Wassalam
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah