What do you think I should do????? I'm desperate for a solution.?

Question

My husband & I invested everything we own and mortgaged all but our soul to expand his business. Well, it worked, sort of, as we have a good businesss, but we are so behind in our current everyday bills., ie. house mortgage, electric, heat, phone, etc., that we cannot even afford to pay attention. We are destitute with nothing left to sell off. The IRS just levi'ed our checking account and took the last of our money. (they didn't tell us either) Now, i'm going to have bounced checks all over town. I just feel like we lost a war. HELP.

Answer 1

Why have you not paid the IRS? You said that the business is just starting to make money. Keep the house mortgage paid, turn off all utilities where ever you can. Add all creditors together and pay off a portion of each bill each month.

Push the business, work extra hours at it. Move the family to the business site. Hang in there, things will get better. Make sure you advertise even if it is just a sign in front of the business, the more advertisement the better.

Answer 2

there is a way, you can look for investors or partners for your business. In exchange for a certain amount of money, they own a certain percentage of your business. If your business is good and can turn a positive cash flow, you should not have any problems finding partners to join as a co-venture.

Answer 3

i would suggest, cuase ive been there very recently, get rid of ALL your luxeries. cell phone, cable, internet, etc... unless absolutely needed for the business, if you have more than one vehicle, sell one. as far as the bad checks, just do what you can and speak with the business owners about the situation and they will hold off on turning them into the county attny. good luck:)

Answer 4

Can you say bankruptcy, Chapter 13, or 7

Answer 5

Call a financial expert like American Financial Solutions. They are free, and will help alleviate much of your debt.