I heard that there are number of downsides being small business owner. Besides having to work long hrs and be constantly worried about your business and the competitors nearby, there is a high risk of going bankrupt. I was told that 80% of small businesses go bankrupt within its first 2 years. Sure, you make a lot of money if your firm becomes successful, but it seems there are many hurdles before reaching that state.
Knowing that, is it worth the risk starting your own small business for people with not much entreprenurial experience? What are the characteristics of people who own successful small business?

Technorati Tags: high risk, many hurdles, money, small business owner, small businesses, starting your own small business, successful small business

Good news is I make 60 grand a year. Up to 65 grand if I get a lot of overtime.

Bad news is I had to take out a lot of loans to get there.

140,000 dollars in private student loan debt.
70,000 dollars in federal student loan debt.
35,000 dollars in credit card debt.

Altogether they want about 2800 a month, which is about 70 percent of my take home pay. I convinced my student loan company to let me pay back the loans over a longer period on a graduated scale and got the payments reduced a little so now I’m only paying 2100 dollars a month on all of my debt. But that’s still over half of what I make and I can barely live a normal life.

What should I do? No one will refinance me at a lower rate because I’m such a high risk option with all of this debt. But I’ve heard that a bankruptcy court will crucify me because I make too much money, even though I’m barely scraping by because of all the payments. Help!

Technorati Tags: bad news, bankruptcy court, credit card debt, federal student loan, high risk, loans, much money, overtime, private student, risk option, student loan company, student loan debt

I have under ,000. Right now my fico score is 549. (Very high risk) I am going to begin paying off this off soon. If i got this paid off and settled my accounts within 2 years, does anyone know how long it would take 4 my score 2 go up? Also, does anyone have an estimate of how much it would go up. Any information would be greatly appreciated…

Technorati Tags: fico score, high risk

I was reading about junk bonds, because my parents are about to go bankrupt…
I was also reading that some people buy credit card debt, at a discount, because
the bank realizes that it’s a high risk to keep the person.
How would you go about selling your debt to these people?

Technorati Tags: credit card debt, high risk, junk bonds, parents

My husband is 21, unfortunately he has made some horrible decisions in his life regarding money. He is now considered ‘high risk’ by EVERY loan company you can think of, including the NO CREDIT BAD CREDIT NO PROBLEM people, lol. Now his (not mine, my name is not on it, and please remember, I just recently became his wife!) car is up for repossession. He leaves for basic in January, and that will solve many of our money problems. However, we NEED this car, myself and my daughter, while he is in basic and up until that time. How long will it take them to come get it? And the real question I am asking is–with his credit being this horrible, and owing all this money that’s so terribly behind, should he just file bankruptcy?? I know it will freeze the repo and we can at least keep the car. He is only 21, I know that is young, but his credit report is four pages long–of crap he still owes. Would it be better to start over even with a bankruptcy? (my credit is good.)
That is–keep the car for an undetermined amount of time. His mother (imagine that, the apple doesn’t fall far from the tree) filed bankruptcy earlier this year and drove her truck for free for over six months.

Technorati Tags: amount of time, apple, bad credit, bankruptcy, credit report, decisions, high risk, loan company, money problems, repo, repossession, six months

I have about 15,000 worth of debt at the moment not including my vehicle and home. I am told they cannot seize these things as long as you can make the payments. My problem is credit cards. I have been unemployed for a while and keeping up minimum payments but they have increased my rates by 50-80% on most of my cards even though I hadn’t missed a payment and my credit score is almost flawless. They say rates were raised because I am currently high risk because I am unemployed. I have done everything I can to keep up the minimum pymts until now. Long story short I haven’t been able to pay the last couple of months and it is starting to pile up. I don’t know if I should file for bankruptcy and start over or try to negotiate a pay off with the creditors. I don’t want to ruin my credit as I worked very for it but it is going down no matter what at this point. This is a total nightmare.

Technorati Tags: bankruptcy, credit cards, credit score, creditors, hadn, high risk, minimum payments, nightmare