new to board.... need help!!!

[noproblems]

I am 34 years old and have worked my butt off to build credit, investments, businesses. I have been self employed for 14 years with no family or give me's to get me started. I have owned mini storages, restaurants, building company's and rental properties. Through some poor decisions in the past few years I have found myself in one heck of a financial problem...

six months past due on non income producing property,
290k balance on credit line with partner that has filed chapter 11
395k home equity loan on personal house that makes my home un affordable
50k in credit cards

I have convinced my wife to go back to work and i have resently opened a new business that is allowing me to make a decent pay check.

together my wife and i are probably making more then we have ever made but have all of this dept hanging over us.

can i get a fresh start, is it possible?

Thanks for any input.......

[Flamingo]

You can only file bankruptcy if you are insolvent. That means your debts are more than your assets. Also since you are both making a decent income now you would probably be looking at a Chapter 13 if you are able to file, plus it appears you have some business dealings tied into your personal credit which can make things a bit complicated. There are many informational stickys in this forum under both BK Chapters that can give you lots of information. Since you also appear to have business debt tied in with your personal debt, it won't hurt for you to get a consultation with a BK attorney who can fully go over your situation as to the state in which you reside to give you a better estimate where you stand and what you can and cannot do. Most initial consultations are free and take with you a complete listing of all your debts, monthly payments, sources of income, paystubs, listing of all assets and accounts and your most recent state and federal tax returns. Best of luck to you!