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Business Debts

The Bank Converted the Business Line of Credit to a Loan and Want More From Us. – Lisa

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“Dear Michael, My husband and I lived comfortably and had a good run for the first 10 years of our 22 years of marriage. However, we helped others a little too much and then we ran into some issues when my husband lost his job and we were forced to open up his side business full time. During that time ... Read More »

Attorney Wants to Know How to Make Ends Meet as a Patent and Trademark Lawyer. – Lillibet

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“Dear Steve, I am temporarily unlicensed attorney (due to health matters), but have about 30 years experience in patent and trademark law. Throughout my career, I have noticed that few clients are ever willing to pay me for my work, yet are amazed at the results I get. In truth, I don’t bill clients for every billable nanosecond, unlike many ... Read More »

I’m Running Out of Money Fast. What Do I Do? – Dana

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“Dear Steve, Self-employed single mom in flooring industry (ca) Real Estate owned (2) rentals-devalued but currently rented but combined after rents is -(negative) $300.00 per month. Currently living in my home devalued with equity line maxed out. Credit card debit on personal credit card debt on business (corp) business currently has $15,000.00 in cash Business line of credit taken away ... Read More »

I Have a Large Business Debt With Wells Fargo That is Charging Off. What Should I Do? – Lighttrick

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“Dear Steve, I have large business debt that is charging off. i don’t really have funds to settle. how much trouble am i in? it is with wells fargo. biz line and biz cc. to the tune of $50,000. What is the best course of action? Lighttrick” Don’t miss our free Get Out of Debt – “How To” Guide Series ... Read More »

I’m Looking for Your Free Debt Elimination Guide. – France

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“Dear Steve, I have small personal debt I want to eliminate, reduce monthly payments ect.. My biggest problem is my startup company that is in debt. In order for me to keep the company going until it succeeds I need to be debt free. I have borrowed alot of money for this company and I don t want it to ... Read More »

How Do I Eliminate My Debt From My Failed Business? Michelle

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“Dear Steve, I just recently closed my sailing charter business and I have several thousand in credit card debt as a result of the business. I also started back to college full time last January. How do I erase my credit card debt that is a result of my failed business? Can I get any additional help for being a ... Read More »

Can I Sell My Business After My Bankruptcy? – Maria

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“Dear Steve, My chapter 7 has been discharged in June…I was able to keep a business that I have had for 5 years because I do all the work, and there was no assets. My question is this. Someone that I know would like to take over my business and pay me $18,000 for it. Would I be doing something ... Read More »

I Don’t Even Know Where to Start. – Candice

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“Dear Steve, I really thank you for your help in advance. I don’t even know where to start. Like many who write, we are at the end of the road financially. Married and over $80,000 in credit card debt, we can’t keep up. I’m not even sure what’s the exact total as I stopped checking. About half of that is ... Read More »

We Own a Small Business That Has Never Made Much Money. How Do We Get Out of This Mess? – Sierra

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“Dear Steve, We own a small business for 11 years that has never made much money. my husband filed bankruptcy and put everything for the business in my name and all or our personal property, credit cards everything in my name. now we are in trouble with the irs because my husband did not file all of our tax forms ... Read More »

My Company Left Me Owing Bank of America and American Express. – Kevin

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“Dear Steve, I currently owe 35k on a Bank of America Credit Card and 20 on an American Express account. These cards and balances were the result of me using the cards to run a branch location i had for a mortgage company and then the company would pay me off. Unfortunately, the company in Sept of 2009 filed Chapter ... Read More »

My Husband My Lose His Job When We Go Bankrupt. – Angie

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“Dear Steve, Current debt is close to $100K, between cards and home equity loans. We have recently listed our home and hope it sells within the next 6 months. If it does, we should make enough to pay all debt. If it doesn’t, we may have no other choice than bankruptcy, and in that case, due to having a company ... Read More »

I Have Over a Million Dollars of Credit Card Debt. Help! – Raj

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“Dear Steve, I have following debts on me which was generated over last 4 years: 1 Credit Cards 1,100,000 2 Business Banks Loans 755,000 3 Personal Bank Loans 246,000 4 Personal Loans on almost 3% interest 794,000 5 Car Loans 105,000 Total :- 3,000,000 So far I managed to survive and paid thru the profits I received from my business. ... Read More »

We Just Read Your Book “Eliminate Your Debt Like a Pro” and Are Ready to Move Forward. – Lynn

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“Hi Steve, I just finished reading your book, “Eliminate Debt Like a Pro.” I just reached acceptance and now I’m working on my plans. Here’s the situation–my husband & I have owned a tourist lodging business for 10 years. We have used credit over the years when we had bad months or unexpected expenses and it slowly crept up. Then ... Read More »

I Invested in a Network Marketing Scam and Lost My Retirement Money. – Jonnie

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“Dear Steve, I am almost 60 yrs. old. I used my retirement money to fund a network marketing scam…I learned a big lesson there. I have been living on credit cards for the past 3 yrs. I have 7 cards maxed. I worked for someone but found that I couldn’t earn enough to make payments so i opened a small ... Read More »

I Have $80K in Credit Card Debt From My Business. – Kristin

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“Dear Steve, I have 80,000 in credit card debt from my small business. I am behind on payments and struggling to keep up. They’re four cards maxed out, no cash to purchase inventory. Not sure what to do? Consolidation loans semm to be a scam? Any advice on what to do? Kristan” Don’t miss our free Get Out of Debt ... Read More »

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