Apr
24
2009
i own a small business that is a s corp,i do not have the ability to pay make my lenders?
Author: Wade Henderson
dagconst11 asked:
whats the best course of action at this point ,i owe approx.120k in small business loans and also a new construction home that maybe foreclosed on.the loans i signed as personnel guaranty,the home i did not. where do i go from here.
pay back my lenders
For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
whats the best course of action at this point ,i owe approx.120k in small business loans and also a new construction home that maybe foreclosed on.the loans i signed as personnel guaranty,the home i did not. where do i go from here.
pay back my lenders
For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
I will suggest you to ask someone who who is more professional because it is risky to take a decision on our answers.
For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
If you signed on the dotted line, then they’re coming after you. Have you contacted your creditors to try and work out some sort of repayment plan that you *can* afford? If you are absolutely at rock bottom, you may want to speak to a lawyer about bankruptcy. These debts won’t go away on their own.
For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
You need to sit down and determine what all you might be able to liquidate and what available liquid assets you might have. Then calculate your anticipated short-term income and compare this against your total debt and payments that are immediately due.
Try cotacting creditors to see if you can get a grace period or make payment arrangements. If your assets are far outweighed by your debts and they are not willing to work with you, you might just need to consider bankruptcy protection.