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Business Debt Bankruptcy Question, Investment properties
I own 15 rental properties as my business (over 2 million in secured debt). A few of them are so far upside down, and I am letting them go into foreclosure. I also owe over $330K (used to finance the property business) in unsecured debt, which is why I have to file for bankruptcy, as I cannot afford...
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Please ! Please give me your thoughts
I am in deep, very deep trouble.
I bought an existing business last year
financing by my own savings, credit cards
and other sources.
The business owner let me sign a promissory note
to buy it.
Business was not good then was closed....Last edited by mustang; 05-23-2008, 12:42 PM.
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