![]() |
|
| *Home>>>Business Debt |
Before bankruptcy purchases? |
I need to file personal bankruptcy because of a failed business. My question is I live in Ohio I am going to be strapped financially for the next 4 years paying of outside business debt. My problem is my refrigerator died yesterday and everyone is telling me to purchase one 90 days before filing. I have never failed to pay a bill but I am unemployed and quite a while before I can ever regain financial freedom. I am at a loss what to do. Does anyone have any advice. If you BORROW money for a new refrigerator when you know you will be filing bankruptcy, that is fraud. If you take the first answer's advice and BUY a used refrigerator for CASH, you should be fine. As long as you are not spending on items you don't need, the bankruptcy court knows you still have expenses. Post an item wanted ad on craigslist for your refrigerator. Stress free or low cost due to failed business. Go ahead and buy the fridge....You need it. I could be mistaken but depending on the type of business( you owned?) you may be able to include the debt in the bankruptcy as well. Hey,...It happens to a lot of us. It sucks, but sometimes there's just no way out. |
| Tags |
| Capital Investment Business Investment Business financing Business Invest Business Debt Bond Investment Angel Funds Alternative Investment |
| Related information |
You should consult a tax professional. ...I'm not exactly sure what you mean against turnover. If you have an investor you also will have either less owner equity or more debt. Either way I don't believe you are going to see the ... Your basic assumptions are correct except that this method cannot be used to distribute PROFITS from the business tax-free. Owners of both LLCs and S-corps are taxed currently on a flow-through ba... Yes,you can.I did it last year.Contact your local Attorney,they will answer all your question and help you.Good Luck ...Capital gains and penalties are not going to be pretty. Do the math yourself, and see if it's a sound economic plan. ...I am no expert here but if the debt is 2 years old then they have already reported you to the credit bureaus so the damage is done. As far as them not wanting to hear $20 a month tuff cookies. As l... 7 is a credit, not a debit. Liablities increase with credits, while assets increase with debit. 8 is a credit I haven't read part 1 to see what else might be an issue. ...the charge is a lien. when u sell the property the lien MUST be paid b4 a clean title can b transfered. time on to get 2 more jobs and find ways to pay it off . ur house title is dirty. ... |
Categories--Copyright/IP Policy--Contact Webmaster |