I took out a line of credit with my small business. Unfortunately the business put me in a lot of debt and is now over. I am unemployed and cannot pay on my line of credit right now. Should I file for bankruptcy? And if so is this debt dischargeable?
2007-12-06 03:50:07 · 3 answers · asked by Help! 1 in Business & Finance ➔ Personal Finance
your best bet is to get a bk lawyer and talk ove your options!!!!
2007-12-10 01:43:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Most things are dischargeable but when you take on bankruptsy someone goes through all your things with a fine tooth comb they take life insurances and cash them in against your debts it is awful and the stigma is bad
Maybe you can go for debt management insread they can get
interest frozen and make an offer of payments that you can afford
GOOD LUCK
2007-12-06 12:11:36 · answer #2 · answered by joan g 3 · 0⤊ 0⤋
I would talk to the people you owe the money and take their advice. Most companies who are owed money will do their best for you. Anything is better than bankruptcy
2007-12-06 12:01:23 · answer #3 · answered by soñador 7 · 0⤊ 0⤋