What do you think?
Date: Sun, 03/15/2009 - 17:46
I am self employed and will be going in to get taxes figured in a couple of weeks. I think I am looking at a gross income of around 15200, and taxable income around 6200.
I have some of my day to day debt caught up but still owe over 900 on elec. from the winter.
I am buying a very old, rundown house on contract, so it isn't even considered mine yet.
My income varies every month. What do you think?
I have just sent in an online information form to my local non profit debt counseling center. I am still wondering about BK. I don't see how I can ever come up with the money needed in the time frame these creditors think I can.
Hi harleyjo300, Frankly with that amount of debt and that pov
Hi harleyjo300,
Frankly with that amount of debt and that poverty level of income you would be better filing for Bankruptcy. Don't wait for them to start coming after you.
Hope this helps,
chrys
I talked to the debt counsler today on the phone and he said the
I talked to the debt counsler today on the phone and he said the same thing. I will contact an attroney tomorrow and get my appt. set up in the next week or so.
Our income is not quite as bad as it looks due to the fact the my BF lives with me and we work this together. So he is drawing income from the me as a sub contractor. We still don't live the high life though.
I just need to get on the other side of this, pay 28 more house payments/rent to the owner of the house I am buying on contract and life gets a bit easier with no mort. or rent. It will be mine.
I have the appt. set up now with a BK attroney for next Monday.
I have the appt. set up now with a BK attroney for next Monday. Now I am starting to get scared. I have a small business I run. I don't need any credit for it, I operate on a strictly cash/check basis from clients and any materials bought for their jobs, they pay for before I buy them.
I am concerned if the BK is going to make me close my checking accounts. I opened up another set of accounts out of one of the banks that I also had a CC card and my checking accounts at before.
I really need at least my checking accounts open. I am trying to envision how operatating without a checking account would be. I would have to cash installation labor checks and then get money orders to pay sub contractors.
This is a personal BK because I am a sole prop.
I am kind of in your same position. I have a small business alos
I am kind of in your same position. I have a small business alos. One of my loans is a line of credit I have through my bank. My BK lawyer told me that I did not have to close my account, that after I file/discharge I can still use it. Do you owe money to your bank? Since I do, she said for me to keep very little money in the account because they can take whatever I have right now. But later I should be able to use that account. I don't know why they would make you close your account unless you are overdrawn real big and are trying to put that in your BK.