My jurisdiction is: North Carolina
Within the next few months my business looks like it is going under. We should cover the 500,000 line from the Bank with receivables and inventory. I will have no income at that point. My wife is not working and we have very little assets. Appox 120,000 in two IRAs. We owe way more on our house than it is worth 420,000/ 250,000. I also have over 200,000 in credit card debt that I used to start the business. I am 63 years old and not in the best of health.
What should I do?
Within the next few months my business looks like it is going under. We should cover the 500,000 line from the Bank with receivables and inventory. I will have no income at that point. My wife is not working and we have very little assets. Appox 120,000 in two IRAs. We owe way more on our house than it is worth 420,000/ 250,000. I also have over 200,000 in credit card debt that I used to start the business. I am 63 years old and not in the best of health.
What should I do?
