Should We File Bankruptcy Because of Business Debts?

Money, Credit and Debt Advice – Get Out of Debt Guy Question: Is There Hope for Us in Bankruptcy? Dear Steve, We have roughly $80,000 in credit card debt. We have 4 children, 2 in college and 2 yet to go. We own a small business that we run out of our home in addition …

Read more

We Spent All of Our IRAs And Still Deep in Debt in Hawaii. – Gayl

praying man

“Dear Steve, Lost my good paying professional job 2 yrs ago. Have worked less than part time since due to chronic health issues and economy downturn. I’m 55; husband is 65. Spent savings on getting a shop built at our home so he could run his woodworking business at home vs paying high rent. Last …

Read more

Should We Bankrupt Our Business? – Anna

“Dear Steve, My husband and I own a construction company (S-Corp) that is basically dead in the water in the current economic slowdown. We are surviving on 1/4 of our previous income and cannot repay our credit card and vendor bills for our business. We have several jobs we’ve had to lien due to nonpayment …

Read more

Are Muzak and Sirius XM Radio, Better Than You?

I was reading the latest news about the bankruptcy filing of Muzak, the elevator music people, and the new merged company of Sirius XM, the satellite radio people. Sirius XM has not filed Chapter 11 bankruptcy just yet but it looks like they will any day now. It has always struck me as odd that …

Read more