I own a little retail business and am being hit hard by the "recession". My wage is less than half of what it used to be. Personal credit card debt is $30k, not behind yet because of gifts from Mom. No more gifts are possible and it's time to think of Bankruptcy.

I live in California. I rent an apartment, own No home, No jewelry, No land, No boat, just an old 2000 Explorer paid for.

But I do have nice audio equipment and musical instruments (no vintage stuff though). Worried about losing all my personal items like TV, Stereo, Guitars, Amps, Computer.

Stressing out about it.

Should I just sell everything I own that's not nailed down and try to pay off all my debt and forget about ever owning the stuff I like ever again?

If I file for Bankruptcy will I lose it anyway?

Help.