what do I do

September 19th, 2005 by Questions

My sole properitorship business is failing, I am in serious debt and do not have the ability to pay off my business loans and expenses. All my credit cards are maxed out and I am missing payments, and all my creditors are demanding full payment, I have no other source of income and don\’t know what to do. The longer I stay in business the more debt I\’m accuireing, but if I close the business I have absolutley nothing to pay any bills, what can I do?

Questions

One Response to “what do I do”



, A licensed trustee said:

A couple of things to do fairly quickly: if you have an accountant call them or go see them. I am not refering to the person who does your books – I am talking about the person you see about your taxes and business planning.

If you don’t have an accountant then you may want to contact one of our local affiliates. It is dangerous to give even general advice to small businesses over the internet – you really need to talk to someone about your specific situation.

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