I was the owner of an LLC, secured 2 loans (LOC and term loan) and a VISA card from a big nationally known bank. I personally guaranteed the loans and VISA account. My business dried up and I stopped paying in 2010-05.
I spoke to “Primary Financial Services” in 2010 and tried to make arrangements for monthly payments on all the loans in one bundle…but we could never reach a reasonable amount. They then disappeared and I heard nothing until this last summer. That’s when I have been pursued by “Investment Retrievers,” a debt collection company.
Last week I received a notice by an attorney of intent to file a law suit on behalf of INVESTMENT RETRIEVERS.
I have hope for a better future, but if I declare bankruptcy…frankly, I’m out of money and time to recover or start over.
I am now getting three or more calls daily from INVESTMENT RETRIEVERS (all within reasonable hours…but very annoying…I do not answer…sometimes they leave a voice message other times not)
What plan of action would you suggest? I must respond by 2011-12-15, according to the letter from the lawyer.
Thank you in advance for your help.
What kind of assets do you have laying around that your creditors could get to?
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