Over my head in debt
Date: Fri, 05/11/2012 - 13:57
For the last 25 years I have owned a successful environmental consulting firm. Recently, we lost significant amount of money on a major contract which got my company in a terrible situation. My company is in debt for over $1.2M. I have tried to keep the doors open for almost a year, but my debt is accumulating and I don't know how to get out of it. I was told to close down the company and claim a personal BK. I don't believe in stiffing people and i want to honor the debt. But don't have any money. Please tell me what to do?
Your only option seems to be filing bankruptcy right now. You co
Your only option seems to be filing bankruptcy right now. You could then choose to pay off the debts slowly in time. Your creditors won't go unpaid per say.
Nobody expected the economy to do what it did. Talk to an attor
Nobody expected the economy to do what it did. Talk to an attorney..,..,get a fresh start. The way you are heading right now, you are likely to be sued at some point time.
