I haven't posted a lot of gory details about my case...but I'll fill you in on some of the particulars before I explain the thread title.
I have a business. An extremely insolvent business. An extremely insolvent business that has tax problems (by which I mean liens - state and federal). BTW - it's a c corp.
The business does still pull in $$ each month (not nearly as much as it did in prior years). It's barely enough to service the debt it has (including the tax payments) and pay me a small salary (which in turn just barely covers regular expenses - does not cover the c/c payments, which is why I've filed for ch 7).
While I'm probably going to be an asset case (for reasons that have nothing to do with the business), I'm pretty sure that the TT is going to look at the snake pit of the company and very politely wash his hands of it. The assets of the company don't even come close to covering the tax bill, and the client list (without my skills) is pretty worthless to even one of my competitors (and there aren't many of those).
So that's the good news.
The bad news is that I am sick to death of this company. I'm sick of it draining my life, draining my pocketbook (one of the reasons I'm in cc debt up to the eyeballs is that I kept funneling $$$ back into the company), I'm sick of (certain - namely my largest one) clients treating me like I'm a pygmy gun bearer, and I'm asking myself "WHY in the world am I still doing this???".
Most of the reason harks back to the fact that I'm not sure I'm employable. The business is a different field than the one I went to school for (and the one I worked in up until 2001)...I can't imagine going back to that now....not that the job market there is all that stellar.
I guess that I'm just depressed - and not seeing a lot of hope for the future - discharge or no discharge.
I have a business. An extremely insolvent business. An extremely insolvent business that has tax problems (by which I mean liens - state and federal). BTW - it's a c corp.
The business does still pull in $$ each month (not nearly as much as it did in prior years). It's barely enough to service the debt it has (including the tax payments) and pay me a small salary (which in turn just barely covers regular expenses - does not cover the c/c payments, which is why I've filed for ch 7).
While I'm probably going to be an asset case (for reasons that have nothing to do with the business), I'm pretty sure that the TT is going to look at the snake pit of the company and very politely wash his hands of it. The assets of the company don't even come close to covering the tax bill, and the client list (without my skills) is pretty worthless to even one of my competitors (and there aren't many of those).
So that's the good news.
The bad news is that I am sick to death of this company. I'm sick of it draining my life, draining my pocketbook (one of the reasons I'm in cc debt up to the eyeballs is that I kept funneling $$$ back into the company), I'm sick of (certain - namely my largest one) clients treating me like I'm a pygmy gun bearer, and I'm asking myself "WHY in the world am I still doing this???".
Most of the reason harks back to the fact that I'm not sure I'm employable. The business is a different field than the one I went to school for (and the one I worked in up until 2001)...I can't imagine going back to that now....not that the job market there is all that stellar.
I guess that I'm just depressed - and not seeing a lot of hope for the future - discharge or no discharge.
