Comments on: Bankruptcy, Sickness, Short Sale….oh my http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 05:13:13 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Ian http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my/comment-page-1#comment-857 Ian Fri, 22 Jun 2007 06:17:29 +0000 http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my#comment-857 I hate to say it (for me) but I really know what you're going through. We were told to liquidate the company. Didn't think we could survive it. Would the clients move to the new venture? Could we cope going form 16 to 6 staff? We did. Unthinkable though it was, we did it. It worked. Not sure if the US has the equivalent, but we didn't use a lawyer - do you have the equivalent of an insolvency practitioner? Think they may give more rounded and practical advice on stuff like negotiating, things to say to creditors etc. Drop me a line by email if you want me to privately send through some negotiation emails. It's iandenny at multisolutions dot co dot uk I hate to say it (for me) but I really know what you’re going through.

We were told to liquidate the company. Didn’t think we could survive it. Would the clients move to the new venture? Could we cope going form 16 to 6 staff?

We did. Unthinkable though it was, we did it. It worked.

Not sure if the US has the equivalent, but we didn’t use a lawyer – do you have the equivalent of an insolvency practitioner?

Think they may give more rounded and practical advice on stuff like negotiating, things to say to creditors etc. Drop me a line by email if you want me to privately send through some negotiation emails.

It’s iandenny at multisolutions dot co dot uk

]]> By: PMSPMS http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my/comment-page-1#comment-856 PMSPMS Fri, 22 Jun 2007 03:19:33 +0000 http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my#comment-856 Dude - all due respect - WAMU and others let you money. It's not a large amount they are charging at the moment ($250 did you say? We haven't seen a spreadsheet for awhile) - I'd service the loan fully - pay it off - maybe negotiate lower terms but respect them. Perhaps you need a business consolidation load - get all those business loans into one basket? That might reduce the overall interest. At present it sounds like you're just trying to get out from paying them by negotiating down and down - which goes against the spirit of what you're trying to do here? Anyways good luck as always. Dude – all due respect – WAMU and others let you money. It’s not a large amount they are charging at the moment ($250 did you say? We haven’t seen a spreadsheet for awhile) – I’d service the loan fully – pay it off – maybe negotiate lower terms but respect them. Perhaps you need a business consolidation load – get all those business loans into one basket? That might reduce the overall interest. At present it sounds like you’re just trying to get out from paying them by negotiating down and down – which goes against the spirit of what you’re trying to do here? Anyways good luck as always.

]]> By: Pups 1 http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my/comment-page-1#comment-851 Pups 1 Thu, 21 Jun 2007 21:33:54 +0000 http://www.debtkid.com/bankrupcty-sickness-short-saleoh-my#comment-851 06/21/07 Although you are good at selling and managing employees, you need to also be good at managing the internal framework of a business. If you can't do this, and can't afford to hire someone who can, you might be better off going to work for someone until you get out of this fix. Bankruptcy has a lot of fees and you have a complicated situation so there will be lawyer costs. Keep this in mind. 06/21/07 Although you are good at selling and managing employees, you need to also be good at managing the internal framework of a business. If you can’t do this, and can’t afford to hire someone who can, you might be better off going to work for someone until you get out of this fix. Bankruptcy has a lot of fees and you have a complicated situation so there will be lawyer costs. Keep this in mind.

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