Bankruptcy concerns
I'm 30 and live in Nova Scotia, Canada.
I take home about $2500 a month from my job and am totally drowning in debt.
I have about $80k in debt across credit cards, lines of credit, personal and student loans that I just absolutely can't afford to pay anymore and still live.
I've set up a consultation to speak to a LIT but I have some questions about filing for bankruptcy.
I have no property or vehicles or investments to declare as assets. I have a bicycle that I use to get around town. I'm concerned about other things I own that could be considered assets and taken from me. I'm worried that things like my TV, game consoles, record collection (about 120 of them) and 2 guitars could be seized.
Would it matter if I didn't declare that I own these things? Is there a way they could find out if I didn't? If I did list them, is it even likely that they'll care enough to take them?
I know it's silly given the situation I'm in, but I don't want to make a decision that will take away the bit of joy I have in my life.
Posted May 1, 2026, 9:15 PM UTC