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    linnypod's Avatar
    linnypod Posts: 3, Reputation: 1
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    #1

    Jan 5, 2007, 08:29 PM
    Personal debt settlement but have sole propritor of business
    Being overwhelmed with personal credit card debt and going to debt settlement effect myself owned business?:confused:
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jan 5, 2007, 10:58 PM
    it is it a sole ownership and not protected by a LLC or by incorporation, the money and stock and value of that business is just like money and things of value in your home, it is yours

    If you owe 10,000 and there is 10,000 in tha business account they will want to know why you don't just write them a check
    linnypod's Avatar
    linnypod Posts: 3, Reputation: 1
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    #3

    Jan 6, 2007, 01:11 PM
    Thank you so much.. I have been wanting to incorporate my business to protect myself. Now I will. Interest rates are so high, and not one creditor will lower the rate so I can get anywhere!
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