| 1. |
|
| 2. |
|
| 3. |
|
Ratings. Guidance. The Right Lawyer.
Small business going under
Santa Clara, CA
Viewed 25 times.
Posted about 1 month ago in Bankruptcy / Debt
Flag as objectionable
My husband and I have a small business - we took out a 2nd on our house to purchase the business in 2006. The business is not making any profit and we are slowly going under.
We have about 100k in credit card debt, a note to the previous owner for $4,625.00, and a first and 2nd mortgage on our house. We both are working 2nd jobs to try and get out from under this – but are not making any headway. As of this month everything is current but do not think this will last the next month. Should we be looking into c7 or c13 and is there anyway we can keep our house? Answers (1)
Steven Alan Fink
This attorney is licensed in California.
Posted about 1 month ago.
Flag as objectionable
You need to consult a bankruptcy attorney immediately. A Chapter 13 may make sense depending upon the equity in your house and if the 2nd can be eliminated through lien stripping.
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. |
