Your business failed and you personally guaranteed the loan? You’re personally liable — but bankruptcy can discharge it. Here’s what to do right now, before you sign or pay anything.
Quick Answer: Bankruptcy can affect background checks for executive positions, but struggling with $389K in debt including SBA loans may be worse than filing. A Chapter 13 bankruptcy could potentially strip the second mortgage if the home’s value dropped below the first mortgage balance, though mortgage modifications may be impacted.My business failed after 17 years. …
Quick Answer: Bankruptcy can help when business failure leads to overwhelming debt, as this small business owner’s $12,000 credit card debt ballooned to $65,000 over five years after losing to corporate competition. Since the house is owned outright and income is limited to eBay sales, Chapter 7 bankruptcy could eliminate the credit card debt while …
Quick Answer: TVI Corporation’s Chapter 11 bankruptcy filing demonstrates how even companies specializing in disaster protection can face financial ruin. The Maryland-based manufacturer previously diversified into party tent rentals before selling those assets to Karl’s Event Rental for $2.1 million in December 2008.In what struck me as a moment of irony, I read this morning …
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Think of this as me — just in AI form. I've walked in your shoes. I filed bankruptcy myself in 1990, and in over 30 years of experience I haven't seen a situation that can't be worked through or a person who deserves judgment. Everything here is built on that experience, that research, and genuine care for you. I can't be there in person. But I can be here.
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