I haven’t felt like writing much lately. Too tired, too many other things to do…though I know I should because it makes me feel better. Truth is, this is my last quarter to have any shot at paying back what I owe without BK’ing both the business and myself and just packing up shop.
Business revenue will probably be around 7K this month. Gross profit in the 5K number. After rent, salaries, and other expenses…nothing left over.
I had a nice chat with Toyota this week….got them to stay the repo on the car. I’m so upside downin the car at the moment, if I could get out of it I would, but I can’t.
It’s not all doom and gloom though. This quarter does have some big potential. We finished work on my Plan A project, and it may start bringing in some real revenue in less than a month. We’ll see. Plan B project is picking up, and could hit $3500 in revenue this month, maybe more. It’s all just going so slow…I work all day…and then the next, and the next, and the next….it’s just so slow…
Also, the collection calls are getting worse and worse. The truth is that I need to file my personal BK sooner vs. later. It seems unavoidable at this point, and while I have no judgments yet…I can feel them coming.
{ 10 comments… read them below or add one }
You’re procrastinating! Get the paperwork done!
Forgive me if you already mentioned considering this, but have you thought about going the Credit Counseling route instead of BK for the personal stuff? I tried that once years ago and they really got my payments down to a manageable level and got the collections people off my back….just curious…
Good luck to you! I really enjoy your blog!
I know how it can be when you’re building a business. With my new business, I’ve got tons of work on the table but I’ve found it can take 4-6 weeks from the time I send a proposal to the time the client signs the contract and writes the check. But eventually, it will happen.
So, keep at it. Even though it seems to take time, if you follow through on everything consistently, you’ll make it to where you need to be. The BK thing is scary, but you might be able to make it. If your business focuses on anything in the retail industry, you could hit a windfall as we get closer to the holiday season.
Keep your chin up. You’ll be fine in the long run.
Thanks for the encouragement DM! And Gail, I did go the credit counseling route as long as I could, but even my payment there was over $1500 a month at reduced interest rates, etc. I just couldn’t do it.
Don’t give up, dude. The satisfaction and elevation in mood will be SO worth it when you manage to pull through this mess.
see, I thought you had done the personal bankruptcy already… you were so gung ho about it a couple months ago, what changed?
I agree with Jake don’t give up!!!!!!!!!!!
I heard you on the Prudent Money radio show. You are a inspiration to me. Keep on keeping on!!
If you want collection calls to stop, that’s up to you. You just tell them ( preferably in writing). If it’s collection agencies, they have to stop calling you if you send them a (limited, like ” Contact me only in writing.”) Cease&Desist. I am not sure if original creditors have to comply or not, but they most likely will.
Personally I did a “poor man’s BK” and it was pretty easy to get them to leave me alone.
i just happened to see your blog on my friend’s site over at Debt Sucks.
i’m $180,000 or so in debt at the current moment and i know what the stress of all of this is.
i’ll keep following along with you and hopefully we can all be our own support group.
keep it up. we’re going to make it and we’ll be better for it.
http://foreclosurehelpbook.com/
it looks as though the fliptard is back. Maybe you can help him write his book and go on DR phil with him.