Business Related BK

[blueskin]

Before my business, i was in good financial shape. The business tanked, and i lost almost everything. I had two major debts I cosigned for - the lease and the mega loan (6 digits). After things went sour, the mega loan people came after me and other cosigners. We had several calls with attorneys and filled out a 'financial assessment affidavit'. One of signers went into BK, and since then, I haven't heard from either. I assume they gave up since they can't collect and would be useless. With the above mentioned, i only have 15k in business debt I am behind in paying. Should I declare BK now, before the 'monsters' reawaken, or tough it out, and try to pay the remaining?

Thanks in advance!

[BROKENN]

We have a similar scene and our mega loan is secured.

Is yours secured?

We lasted another year before the "monsters" reawakened. Good planning now

[blueskin]

monsters

It was secured by taking a percentage of credit card sales.

I have no assets secured by the loan, wondering if they are sleeping or are gone for good. Not sure if I should do a BK or not . . .