Personal Debt-Information On Average Personal Debt, Personal Debt Consolidation Loan, Personal Debt Consolidation

Confused asked:


We filed personal bankruptcy in 2010. We had a credit card in our personal name, but used only for business. This was included in the bankruptcy. I need to know what account I should write the credit card balance off to. Our company is a Sub-Chapter S. The credit card debt was incurred before we incorporated – while we were still a sole-proprietor – and was carried over when we incorporated.

Kathleen

Keith asked:


I have a large amount of debt, some but not much has gone into her restaurant. All of my debt is more than 6 months old, can I file bankruptcy and it not affect her business?

Young Frankenstein

Adam O asked:


I’ve heard yes and no from people in the mortgage industry. I am looking to buy rental properties and would like to keep them off personal credit if at all possible just so I do not have huge installment debts listed under my credit history the further along I get into the business.

Shiela Abston

Hoping he will bless me with #1 asked:


I currently have Dell, Office Depot and Staples business accounts. I keep getting offers in the mail from various credit card companies but they all want me to use my personal credit to apply. My personal credit isn’t all that great, and we just bought a new house so I think my debt to income ratio is kind of maxed out.

Is there any way to get a Visa/Mastercard without typing in my personal credit? Can’t I just use my Tax ID#?
Excuse me, but in the last sentence I meant to say “tying in my personal credit”.
Just FYI, I am getting mail from business credit card accounts, but when I call in to apply they want my social security number. I know there must be some way to apply using the business name and Tax ID#. These cards would be used for business purposes.

Oliva Gibbins

that guy asked:


I have minimal capital to contribute to my start up and minimal personal debt. I downloaded the worksheet from www.self-help.org and have been reviewing the information on the site extensively. Has anyone ever gone through self help for a small business loan (approved or denied does not matter)? Was it a good experiance? Did they treat you like a person? Just trying to see if I should go “non-profit” versus a large financial institution for small business loan.

PS- my start up costs are minimal (if you ask me), between $800.00 and $1200.00.

Carly Breed

Jacqueline F asked:


Okay I want to start my own business in 2011 but I definitely want to file bankruptcy for my personal debt. Now if I file in 2011 will that effect my business before it even starts? I’ve tried getting business credit cards and even bank accounts but it always falls back on my personal info.

Thaddeus Ulanski

jason l asked:


Will creditors trying to collect on personal debt be able to put a lien on my new business?

Benton Herrell

beebee asked:


I am in need of money. I should get at least 300 dollars per month to repay my debts. I have a personal automobile and what kind of business can I do with it in Ethiopia?

Reanna Gritz

Keezee asked:


At the beginning of 2008, my wife and I both took out personal loans and used that in addition to quite a bit of money on credit cards to start a business. Long story short, the business flopped and we are personally in debt as a result. I need to know what my options are. The business made money but was never operating at a net gain, all income went to re-investing and paying the loans/credit cards, this was started in my name as a sole proprietorship but the debt incurred is in both of our names.

I know that we are able to deduct all of our expenses and we are going to close the business officially as well, but we will be left with a large personal debt burden and I wanted suggestions of what to do. We are honest people and we don’t want any handouts or to file bankruptcy, we would like to pay our debt, but ironically debt consolidation companies won’t touch people with decent credit who are current with their debtors!

Any suggestions? Especially in the area of taxes?

PS: I know, we should consult a CPA! ?

Cory Bieker

newmom05 asked:


Or should wait untill you get your personal bills paid down first?

Roland Steczo