Don't Consider Business Debt Management Until You've Read This!

The company filed bankruptcy. the Card was discharged in the bankruptcy. They are trying to collect from my wife. Yesterday we received a letter that the bank was taking $1800 from our checking account to pay towards the debt. Can they do this and what should we do?
The company filed bankruptcy. the Card was discharged in the bankruptcy. They are trying to collect from my wife. Yesterday we received a letter that the bank was taking $1800 from our checking account to pay towards the debt. Can they do this and what should we do?
We have taken most money out of our checking acount already, but had to keep it open for now.

Hi

7 years ago I emigrated to America to get away from debt problems after my business went bust, I never went Bankrupt, but the debts were over 50 thousand pounds.

I am 26 and just graduated with my bachelor's recently and cannot find a job. It is really frustrating, I am starting to consider other options. I am in good shape though, I get monthly checks of 2,264 every month from an accident when I was younger and I have 80,000 saved. So I'm considering starting a business rather then to continue looking for a job. I don't have any debt, I just pay for my rent and utilities for my apt…

When I was a kid, the only "financial" stuff I got was that in 7th grade, we learned about writing checks and business terms such as "overhead". However, with the subprime loan crisis, it seems that schools should have taught more about budgeting and debt and less about the "war on drugs". I know that it's a parent's responsibility to talk about this stuff, but if the govt can take time preach about drugs, shouldn't also talk about budgeting?

Hey guys. I just started a new business a couple of months ago and am finding out that I was not financially prepared for it. I am undercapitalized. Therefore, I probably only have a good 4 months left until I can't pay my rent and other bills anymore. Also, even if I were able to receive funding somewhere else, I no longer believe that the business is a good one. Should I file for business bankruptcy now? I borrowed $120,000 on an SBA loan that I want to discharge from bankruptcy. I would appreciate any opinions that people might have. I just don't see a point to stay in this business to go into even deeper debt when I know it's just going to get worse.

After all we know it is profitable. We should get some of the benefits. Perhaps as a community or cooperative we can make ourselves some CA$H as well. Time is running out and prices of goods and services are rising. We would also be doing the nation a great service by paying the Nat'l War Debt. Let's really stimulate the economy and get the US rolling again. With the left over money we could inverst in a lobby or more!

Are people going into debt to help the Bush War effort???

My brother in law owns an LLC business. He is sole owner.
My sister is divorcing him, and she has been told that the busines is classed as a marital asset and she has right to part of the profits.
Want we want to know is, the business debts..should that be included in marital debt, or should it be separate as the business is an LLC and should in any other legal issue be separated. Meaning the LLC is liable for its own debts, protecting the personal assets and you.
You see their personal marital debts is low, they have equity in their other assets.
The business however has debts, like suppliers and whatever, can her husband put all debts in a pot, or can she ask for it to be separated from the personal debt?
If the LLC cannot pay the debts off..surely the LLC is liable and not the husband and wife?
Please could someone tell me the rules on this? I cannot find information about it anywhere thank you
The LLC is a corporation. He is 100% shareholder. Yes he has signed personally for credit etc
This State is an equitable State.
He filed for LLC and as a corporation to save their marital assets and vice versa.
My sister can't afford a tax attorney just yet, but wanted to know some information about it beforehand.
She has been told she does have a claim in the business but wondered whether the debt like what they owe suppliers etc should be taken all as one debt in their divorce?
He is classed as the owner, and CEO of the business.
There is nobody else, just the employees.

Back when I was 18 I was young and stupid and bought something I couldnt afford to try and establish credit. Now it is coming back to bite me in the ****. The company has since gone out of business and it appears on my Credit Report as "charged off" But the collection agency is still after me. It is over 6 years old and past the statue of limitations and will be cleared from my credit report in less than a year. But, I am trying to buy a house and it is really bringing down my credit score. I called them to try and make a deal because they have almost tripled the amount that I originally owed. Paying off the full amount would be great, but I honestly cant afford it. I asked for a payment for deletion but it was a no go. What are my options? Need to do something soon or I wont qualify for a good loan. Any help is appreciated

he is getting to old. I told him save up for a year a(He makes damn good money now). and than relocate. He said he could save $60,000 in a year. I told him if you save that much, since you don't have any debts or family(he's single) you can get a nice apartment and focus on your business and just get a part-time job just to cover the rent. He says the time he relocates he will be 35 and thinks that will be to old.