Internet's first get-out-of-debt community - 122,000 members

I finally got a major contract with a company(withholding name) They pay sometimes 30days after work is complete. My problem is paying workers for there services, not to mention buying supplies for job\'s to be done. If i didn\'t have so much Debt i would be in better Financial shape. It\'s killing me. My family is suffering, and i\'m ready to throw in the towel. What can i do...

Posted: Fri Nov 03, 2006 11:35 am Subject:

Welcome to the boards, many here are qualfied to answer your questions, my only idea for you is that
I would check out the small business association website

http://www.sba.gov/

maybe they can offer some sound advice or ideas there. Good luck and keep posting

Posted: Fri Nov 03, 2006 11:58 am Subject:

Have you thought about a consolidation program in which you can combine all your unsecured debts under a lower repayment plan? This will allow maximum saving so that you can contribute more money towards the business.

You don't want to lose the new contract and in order to retain it, you will need to pay the workers for their services in a timely manner. Your debts are the biggest concern for you at this point. You might be interested in putting them under the consolidation program and improve your credit ratings. Find some easy options here.

Posted: Fri Nov 03, 2006 12:10 pm Subject: Under the Glass Bubble?

I feel like i'm under this large glass bubble. I once was on top of the world, Fantasic credit, Every credit card company wanted me, Then Bamb 6- months of slow work and it seems to have placed me under this buble. I finally got this new contract and i see the oxagen mask but i can't reach it. I'm in to deep with this debt. What the heck am i going to do?

Posted: Fri Nov 03, 2006 12:31 pm Subject:

No one can say, s/he has not been in debts ever. One has to go through such hard times if it is destined and come out of it with a strong mind. You have to take control now otherwise you are only losing your valuable time. Remember, you have to maximize your source of income and minimize the expenses so that you can contribute largely towards the new deal.

Debt consolidation will be helpful in your way. If you are in a fix, take the free credit counseling and know your options. The counselor will work out something good for you.

AnneMarie · Posted: Sun Nov 05, 2006 7:19 am Subject:

James
Is it possible for you to contact a factoring company in order that they will give you a percentage of what you are owed right now?

If not, have a good look at your business, is there any way you could promote it in other areas? Special offer for two weeks;
Leaflet drop a particular area;
Contact local business agencies to see if they can suggest anything;
Generally look outside the 'box'.

Could you diversify in some way? Are there any products in your business that you could promote in a different way?

I know it is really hard and a big nightmare when you are in the middle of it but if you step back from it for a couple of hours, you may come back to it with a fresh mind. Millions of people have been there before you - through no fault of their own.

I wish you all the best as I am sure everyone who knows what you are going through, does.

I have a free report on Link deleted as per forum rules - Mike

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