Advertising company going out of business, owe customers...(considering bankruptcy)?

Please help...my business is going under and I owe one last advertising book that needs to go out but don't think I can get it mailed out we are in too much debt at this point to come up with the money. I'm afraid I'm going to go to jail or sued if I don't refund my customers money or produce a book...but I have no way to fix this. What can I do? I might be going bankrupt is there anything that I can do to help this situation. I need some real advice, Thanks!

If I do go bankrupt can my customers still come after me do I run any risk of getting into trouble..If the book doesn't go out. I don't have anything left to loose I've already lost pretty much everything I just am worried about paying them back and I don't think I will be able to. Some of them have threatend to call the cops already because it hasn't gone out...what should I do?

Breathe.

Business is business. Your clients should have taken up a credit check on you or otherwise ensured that you were stable financially. Nothing personal, it's just business, they'll get over it.

Your lawyer should have tied it up so that only the business assets are ripe for stripping so at least your house etc are safe. If not then that's a tough lesson to learn but you'll bounce back.

Go straight to Google and find a bankruptcy trustee in your area and talk to them - today.

If the book did go out, would you make any money doing it? if so then a bank or friend may lend you money and if you can flip it out quick enough then the interest won't be much. If not then cut your losses and admit (temporary, it's only temporary) defeat.

As I said up top, separate business from everything else. You can't be responsible for others not covering their risk adequately if that ends up being the case.

Go to a lawyer for bankrutcy advice...

Get to a bankruptcy lawyer ASAP.

How big is the book (number of pages and size) and what locations does it need to be mailed too?

What is it going to cost you to have this thing printed and mailed?

I'm curious to see if I can produce the book at a lower cost to you.

doran@doranpeck.com