I Own an S Corporation and my Home is Now in Foreclosure. – Dave

“Dear Steve, I own a small business which is an S Corp. Business was bad for awhile, during which time I got behind on the mortgage on my personal home. The home is now in foreclosure. Currently, I a considering an offer of a short sale, and I ade the decision to save the business, … 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 the S Corp and LLC Debts Debts Going to Cause Us to Lose Our Home? – Sally

“Dear Steve, Bankruptcy Questions??? To file or not to file???? My husband has had an S corp for 12 years, he is the sole owner and whilst business was good he was paying all his bills and the mortgage. A couple of banks also gave him Credit Lines of up to $80,000 based on his … Read more

We Were Forced to Close Our S Corp Business. – Jean

Jean “Dear Steve, Greetings,and thank you for your time and efforts…My husband and my self were forced to close our business of twelve years,OCT 2008 we are sole owners and a S Corp. Two years previous we noticed a significant decline in the economic spending habits, this decline forced us to use all our equity … Read more