Legal Advice


Do I have to repay a business credit card after the business has failed? related questions

  • 1Do I have to repay a business credit card after the business has failed?

  • 2I have a business that is falling with over 400,000 in credit card debt?

    and about 70,000 debt in personal credit if i close the business and file for personal bankrabtcy will i get dishcarge for the business debt as well especially that all the bsuiness bill comes under my name.

  • 3Starting a business and need a business loan. Not so good credit and without collateral.?

    Where I can find help and Guaranteed funding for my business ? Is there help available for my criteria ?

  • 4Need advice. Failed business, taxes, and debt.?

    In early 2008 , my wife and I took out loans and used that , plus a bit of money on credit cards to start a business . Long story short , the business failed and we personally debt as a result. I need to know what my options are . The business of making money , but never was operating at a net profit , all proceeds went to re-invest and repay loans / credit cards, this started in my name as a sole proprietorship , but the debt is both our names . I know that we are able to deduct all of our expenses and we will officially close the deal as well, but we are left with a big load of personal debt and wanted suggestions on what to do . We are honest people and we do not want any handouts or declare bankruptcy , we would like you to pay your debt , but debt consolidation companies , ironically , not touching 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 ! 

  • 5To get a business LOC (line of credit) what personal credit scores do I need (minimum)?

  • 6I will be filing bankruptcy. My wife owns a business, but is not filing. Does it affect her business?

    I'm going to file Chapter 7 , the total discharge of the debt. My wifes credit is good . I have no connection with his business, which began after we were married .

  • 7How do I build business credit?

    I requested the return of bankruptcy in 2005 , has been discharged for more than two years . He recently opened a small business and need to know how I can build a good business credit . What steps do I have to do and how. thanks

  • 8Used personal credit cards for job for $100,000 and they are now out of business!?

    It was a startup company which I was offered equity in. Several initial expense reports were paid but then we had a show which all of the charges were on my card and they never reimbursed me before going out of business. The amount of $100,000 is well more than I am capable or willing to pay back! I would sue but I don't believe they have any money or assets!!! What can I do? Declare Bankruptcy???

  • 9Is it very easy to get small business financing when your credit is bad?

  • 10What effect will opening a business have on personal credit?

    I understand that trade credit is different from staff and initially many personal credit business is your business credit at the beginning or at least under them. My question is, if you open a business there is no effect on your personal credit score? The reason for the visit is my personal credit score is decent, but some 700 are falling due to debt ratio. Therefore, due to the high proportion of debt, credit cards lately not going to touch me and I want to do is to transfer to an introductory rate to get out of high interest debt. I can pay my minimum balance, plus 100 percent every month, but I'm limited disability income, but receives $ 26,000 per year for school GrdA scholarships each year, $ 10,000 of which are sub-loans. So what is happening is that getting quotas twice a year. Immediately pay all my cards payment ranging from $ 1,000 to $ 4,000. My total debt is about $ 20,000, and most passed before my disability. Almost all my Grad School grants and loans will my credit cards and by the end of the semester and I'm out of funds to support my wife and my son and me. Therefore, I use credit cards that originally tried to pay at the beginning of the semester and the cycle all over again. What should I do, bankruptcy? I really feel a moral obligation to pay my debt, I spent the money and that is my responsibility. The problem is that because of my debt is so high and constantly stagger the limits of my letters that get hit with crazy rates. The latter was an increase of 5.9 percent to 15 percent, and 32 months later, a rise of 29.9 percent of Citibank. I think with the upcoming laws credit card companies are trying to block these high rates and as my situation is that of a stressed borrower who immediately hit my account at any magnification. That was very long winded. The two questions I have are to open a business credit help my staff and I can freeze my credit card APR cards for each

  • 11Business Line of Credit - personal guarantee consequences?

    I stood guarantee for the credit line . The business is almost gone and the loan is $ 95,000 . Bank is behind me . What should I do ? Personal bankruptcy has been suggested by friends . What are the consequences of personal bankruptcy ? I am very worried. Is there a better solution for this? My credit score is very good right now.

  • 12How to start a small business with bad credit and generally fixed income?

    I filed bankruptcy with my husband 2 years ago, and I receive only disability payments every month that barely cover my living expenses. I no longer have a desire to use credit cards- I use only debit now and checks, or cash, and I have been up to date with bills since then. I'd like to get a government grant to rent a nearby building for an office space/coffee-shop type venture; anything that would involve the process of writing poetry, stories, books...I have no business experience but alot of ideas and dreams. I'd like to be able to 1) rent or lease property, 2)clean up the property (it's been abandoned for years) 3)furnish with couch, chair, desk, computer, shelves,etc. 4)stock with office supplies, snacks, coffee-type drinks...5)have a few employees for accounting &legal help, cleaning &maintenance, and 6)clientele who are artists of the pen and paper (writer's and poets who want to be published, as I hope to be someday) I live in SE WI. Any serious guidance would be welcome...