You are in serious debt, and you just dont have enough to pay of your bills. What is your option?

What will you do when you have a business that makes less money to meet your financial obligation when:-

You cant get business or personal loan due to bad credit?

Those who come forward to lend you charge 10 or more per cent monthly on the amount you take as loan?

You can't expand your business due to financial limitation?

You need to raise capital by presenting your business plan to the right group of investors. You want to hit the chamber of commerce events and any other network that will introduce you to angel investor or venture capitalists. You need to be sure you understand the interest in your company you will be giving up, as well as the pay back time limit. Usually with an investor they give you 24 months and understand the risk toward the loss. The other questions you need to answer is why are you losing money? Are you in start up stages? Growing too fast? Make sure you do keep your debts separate. Also there is a company that teaches you how to raise capital correctly, meet the compliance laws for your state. if you want more info you can email me. It takes money to make money that is for sure. Check your area for the nearest SCORE office. They offer free advice. Hope this helps!

Business and personal debts are seprate situations entirely.
For business, it depends if it is a sole proprietorship, or a corporation.
If it is a sole owner, the owner has several options.
1. Apply for business loan. Ten percent interest is not bad for bad credit, if you need the money. 25 percent is usually the norm for bad credit.
2. Apply for a government business grant. This takes awhile
(about a year or so), but you won't have to pay back the money.
3. Apply for a government business loan. This takes awhile.
About 6 months. Interest rates are usually about the same as banks. So are length of loan terms.

4. Sell business. Use money from sale to pay off debts. If more debt is owed than you get money from sale, see
# 5.

5. Chapter 13 Bankruptcy.

Personal debt.
1. Loan.
2. Debt consolodation service.
3.Bankruptcy. Chapter 7 or Chapter 13.

have you tried a credit consolidation company? they have ways of helping so that intrest rates and things of that sort are lowered dramatically and other late charges and such to stop as well... they may have specific things to also help out buisiness owners as well...i think there is something here in indiana called the ccc. and that helps out all kinds of people ... i my self had to go thru to the ccc, for my own reasons an major med bills:) they can help.... see if the family services association in your are have anyhting available to help out as well :) wish ya luck:) or if the bbb in your area know of anything you can due major reaserch is needed in this... the thing is those few loans may actually be your only way out unfortunately but if these places can help as well give it a try :)

why not u propose your biss to those who come forward to lend u money and take them as your biss partner since u think that u can expand it by financial free.... they want 10% by only lending those money to u by this proposal u can share the risk with them..... as u know there is no any financial company which are providing finance for those who have a bad credit report, if u sell this biss then u have to start from zero..... better to find a solution to survive with it if sure that what are u having now is worth it.... don't give up try your best.... good luck for u...

You must first eliminate THAT which is causing the debt. If that means shut down the business and make thing right with those you owe, then so be it. Obviously the business is not doing well anyway so why keep doing things that are NOT working rather than focus on things that could work.

With Bad credit, you will ALWAYS get socked with a higher interest rate due to you proving that you can't handle money wisely and the lender does not want to be screwed out of his/her money.

I don't think bankruptcy is the answer unless you are millions in debt and only make $2000 a year. AND if that is the case then you bankruptcy will not fix anything. Only financial education will.

Many use excuses to why they are in debt and YES unfortunate things happen to all of us with businesses, BUT how we handle what life throws at us is 100% up to us, making us 100% liable for where we are in our lives.

I would close shop, make things right with those I owe and move on the next venture.

: )

Hello
I am Mr Michael Snell.The Owner and General Manager of Michael Snell's Loan Invest company.We do give out all types of loan to those in need of it.Loan to those who have been swimming in the ocean of indebtedness,to those who do have been frustrated looking for loan and turned out.Look no further come to us as we do give out loan at low interest rate of 5%.And we do have two types of loan Collateral which is the secured loan and the Non Collateral which is the Unsecured type of loan.For more informations you can contact us on msloan_lenders@kittymail.com telling me the amount you need as loan and also filling the loan borrowers form.
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Mr Michael Snell