Hello,
we had a few credit cards over last 2 years , total amount of still outstanding balance is about £ 28.000.
We had our bad luck with running a small business – investing in stock which hasnt worked out – partially lost, partially it has arrived broken etc.
Over last 1.5 year we have been paying all cc companies on time etc but now we cant anymore.
We are both self-employed and dont have any fixed income .
So – what to do? We dont care of credit history ,but we have amortgage which we are paying so – any advise how to settle all that down?

Technorati Tags: bad luck, credit cards, credit history, fixed income, investing in stock, small business

Does anyone have any advice on coping?

I know that my family is SO not alone in having a small business that looks like it will close but that still doesn’t help how I’m feeling.

I don’t want to go bankrupt. That would screw over a lot of people and taxes still fall on the individual corporate shareholders so even if we go under, we’ll just get absolutely raped by the city, state, county, and fed.

Everything keeps going up and down. One day we are told that we’ll get dispatches for work then the next it is no news… The strike back in July really fu*ked us, we weren’t part of the union but everyone else on the job site but us was on strike so that meant no work for us either.

This b*tch that runs our newest customer has no idea what the hell she is doing and apparently doesn’t realize that everyone on a job site TALKS TO EACH OTHER so we know that yesterday, today, and tomorrow this one job needs 6 trucks but she is only dispatching 3 trucks to the site, her own trucks, and screwing the people on site AND us because they won’t get everything done on schedule and we don’t get a dispatch. We got this customer through another one that LLOOVVEESS us. Every crew specifically request us because we know what the hell we are doing but they are out of funds until the start of the next fiscal year so they CAN’T give us work. They were our reference with this new company so it isn’t as if they aren’t using us because we do sh*t work.

For the life of us we can’t figure out why this chick is screwing her own customers by only giving them 3 trucks when they NEED 6!

I did the billing for October yesterday and the grand total income for the month of October was about ,000.00. We have highly variable months but our "worst" month in the last two years, before October, was ,000.00 and at best ,000.00.

I have no idea how we will stay in business at all 2 months from now when we need to start thinking of plates and renewed insurance when we have ,000.00. I’m not even sure how we’ll pay for my father’s meds and rent come the ,000.00 month.

I’m just so worried and depressed. I can’t sleep, I wake up with panic attacks and I’m down to half of an alprazolam (xanax) and I can’t afford to go back to the doctor for a refill.

I’m just so not sure what to do or how to cope.

Technorati Tags: chick, corporate shareholders, dispatches, fiscal year, hell, insurance, job, small business, tch, today and tomorrow, trucks, yesterday today and tomorrow

Generic Mastercard gift cards purchased in retail stores are great, except that most online merchants (or bill payees) require a billing zip code. Our small business was giving out small quantities of prepaid personalized "incentive" cards each month which worked perfectly… until recently when the company we were using to purchase these cards filed bankruptcy and left us with unfunded cards we’d already paid for. Since then I’ve been searching for an alternative but haven’t found one. I spoke with a rep at a major company today who told me that the kind of card we WERE getting will now be hard to find because they aren’t profitable for the issuers. What we’re looking for doesn’t have to be personalized or reloadable, but we need two features for sure: adjustable denominations & ability to verify cardholder information for online purchases or bill payment. Hope someone can help!

Technorati Tags: amp, bankruptcy, bill payment, billing zip code, denominations, issuers, mastercard gift cards, merchants, retail stores, small business, small quantities

We are a small business and the landlord has raised our cam fees 400% in the last 3 years with no justification. They are virtually putting us out of business, so with 24 months left, we want to break our lease and move. Is it better to file for bankruptcy and reopen in our new location with a new name. We are going to make an offer, but I am sure they will not accept it and try to sue us and get a judgement. Out of the 2 worse case scenarios, which is worse?

Technorati Tags: 3 years, bankruptcy, case scenarios, judgement, justification, landlord, new location, small business, worse case

I mean besides worrying that if the company you work for goes bankrupt there goes your health insurance and the COBRA extension; Also, wouldn’t it be amazing if you could work the job you *want* rather than the one that offers the best benefits. Why do we still have this system as it limits self employment, small business growth and creates "job lock"? Ever tried buying insurance independently outside of an office pool with two pre-existing conditions? Even if you cut back on absolutely everything, it’s still unaffordable.

Technorati Tags: business growth, buying insurance, cobra, health insurance, insurance, job, office pool, pre existing conditions, self employment, small business

corporation and then do the same thing all over again?

I knew a wealthy family growing up. The father bought the son a small business, and he incorporated it.

He then bought nice cars and other luxuries with the corporations credit. He filed bankruptcy on his corporation bought the stuff from his corporation for a very low cost, and then started a new corporation so he could do the same thing all over again.

Isn’t corporate America a wonderful thing.

Technorati Tags: bankruptcy, corporate america, corporations, luxuries, nice cars, small business, wealthy family, wonderful thing

I had a small business and in 2005 it failed and i had to go bankrupt on it and my home..everything , i lost it all.. I have since gotten back on my feet (i thought) ..got a good job with the state and even bought a new car since i had to drive so much for my job…Aug 1st of this year the governor cut the budget to my program and i lost my job. now I can’t make it…there are no jobs around here, there’s nothing…when is the earliest I can file for some sort of bankruptcy? I took the total wipe out the last time..this time I’m hoping I can do the one where I can restructure and keep my home, car and possessions. The economy is killing people like me. Please I hope someone out there knows if I can file for restructure sooner than 7 years and keep what I finally got built back up. Thank you
i wanted to add that i am NOT an idiot and really hate to be talked to like i am one. I am getting unemployment for now. I live in a very small town in Southern Ill and there are NO jobs…thanks to our goverment all our jobs are going to china or somewhere bedsides here. I ask my question to get a helpful answer NOT to get told I am lazy and need to find work…hate to wish bad on anyone but I just hope those of you who think I am so lazy goes thru this someday themselves..maybe then you will all be more understanding. I didn’t need made fun of ..i just ask for help in finding the right answer…thanks for nothing.
i really think THIS is partly whats wrong with the country anymore…people are heartless..always ready to put someone farther down than they already are…again thanks for nothing.
You know I am rather sorry I asked a question….I am NOT a deadbeat, I am an AMERICAN…if the economy has not hit you yet then I am happy for you…but in small town America it has it hard…I have worked all My life and will continue to work IF i can find a job.. unlike most of you I guess I just can’t afford to pull up stakes and move to ‘where the jobs are’…btw…according to the news they’d like to know where the jobs are too… I am totally ashamed to even read these answers…I hope each and every one of you who have told me ‘to get a job ‘ and not have a new car..or buy a ‘cheap ‘ house….well my answer to that is ..I bought a house..for ,000…cheap enough??? and i bought a chevy colbalt..cheap enough??? so you big knowlegable people get off your pedistal before you FALL off…your not better than me or any other American who is having problems now…I am a 56 year old woman and i live VERY modest life….so dont JUDGE me …all I wanted was some info on what choices.

Technorati Tags: bankruptcy, budget, china, deadbeat, economy, good job, goverment, home car, jobs, last time, new car, possessions, small business, southern ill, unemployment

I recently closed a small business and left my home state of FL. Well, I finally got around to having my mail forwarded form my PO Box and received a letter from AT&T that I have a past due balance of .27. I called AT&T today (1/12/08) & tried to pay the bill but received a message that the debt has been sent to a collections agency (American Recovery Services) (The letter was dated 12/7/07). I don’t think I owe the money, (I thought the last bill was paid in full), but I’m willing to pay.

1. What is the best way to contact the collections agency to settle (by phone, mail)?

2. Is this debt already on my credit report as of today?

3. Should I get anything in writing before I pay, if I pay over the phone?

I’ve never had anything go into collections before, and I’m really worried about my credit score. Thanks

Technorati Tags: amp, collections agency, credit report, credit score, due balance, money, phone mail, small business

I need to file Chapter 7 Bankruptcy. My income for the last six months is about ,800, well below the median test for NY State. However, my salary comes from my small business, which is an S Corporation. I am the only owner, and I pay myself out of that corporation. Am I able to continue to run my company and declare Bankruptcy at the same time, or would I be forced to close the corporation?

Technorati Tags: chapter 7 bankruptcy, s corporation, salary, six months, small business