Hello all,
I haven't filed yet but am starting to get calls. I own a small business that opened in Sept 08 and due to the economy all my working capital was used up in Dec. I have been funding the business through personal unsecured credit as well as a Home Equity. I am 2 months late with rent and 2 months late on a SBA loan. My cc's are maxed and stopped paying them this month.
My question is, without having hired a lawyer or officially filed, should I contact my landlord, SBA and my home mortgage lender, as well as, all the cc companies and inform them of my situation. Or should I let the 60 days go by and let the lawyer do it.
I am not clear on the proper protocol.
Any advice would be appreciated.
I haven't filed yet but am starting to get calls. I own a small business that opened in Sept 08 and due to the economy all my working capital was used up in Dec. I have been funding the business through personal unsecured credit as well as a Home Equity. I am 2 months late with rent and 2 months late on a SBA loan. My cc's are maxed and stopped paying them this month.
My question is, without having hired a lawyer or officially filed, should I contact my landlord, SBA and my home mortgage lender, as well as, all the cc companies and inform them of my situation. Or should I let the 60 days go by and let the lawyer do it.
I am not clear on the proper protocol.
Any advice would be appreciated.
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