troubled84
New Member
I am completely overwhelmed in personal debt, to the tune of about 20k, mostly credit cards. My business partner and I have had a small business that we are looking to expand in the next few months. He is concerned about the liability of having me on the business with so much personal debt, as well as being able to get any finance. I don't what to do.
If I file a personal chpt. 7, what's the likelyhood that I will be able to be on any business documents? He tells me to wait until I'm forced to file, i.e. someone sues me. But that could be 1-2-3 years down the road, if at all. I think that I should file and get it over with that way I will be on the way to start repairing my credit, versus waiting to file when, and if, someone sues me.
Thoughts?
If I file a personal chpt. 7, what's the likelyhood that I will be able to be on any business documents? He tells me to wait until I'm forced to file, i.e. someone sues me. But that could be 1-2-3 years down the road, if at all. I think that I should file and get it over with that way I will be on the way to start repairing my credit, versus waiting to file when, and if, someone sues me.
Thoughts?