I've been paying off credit cards and lines of credit worth $40,000 for a very long time. Since I only pay the interest, my debt never goes down. Now, I'm having trouble paying because I'm on social assistance. I'd like to know: if I declare bankruptcy, will I have to pay anything, even though I have no income and my furniture assets are worth less than $2,500? If I do the math, I've already paid off my debt several times over in interest alone... What should I do?
Bankruptcy is clearly your solution. You will only have to pay the trustee's fees, approximately $1600, spread over a sufficient period to allow you to meet with them.
Questions reliées
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