What should we do about this business debt?

[atsgreig]

We have become over our heads in business debt about 300k which is in home equity lines, credit cards, business equity line, vendors, etc. What can we do?

 

[stugster]

Is this a serious post?

 

[NigelLegg]

Sell your way out of it? There are loans available, but they would require a strong business plan and security, so the choice would be trade and pay off the debt or declare yourself bankrupt.

 

We have become over our heads in business debt about 300k which is in home equity lines, credit cards, business equity line, vendors, etc. What can we do?

You need to seek professional advice, you can PM with a few more details if you would me to have a look for you.

Or alternatively have a look on our website.

www.tenable-solutions.co.uk

 

[JGOffshore]

A flippant answer is to do what Gordon Brown has done. Tell the bank you are bust and ask for more money. I'm not sure he will get a much better response than you.

A serious answer is to get immediate professional advice. Are you trading as a limited company?

 

[atsgreig]

You need to seek professional advice, you can PM with a few more details if you would me to have a look for you.

Or alternatively have a look on our website.
tenable-solutions.co.uk

Yeah I have visit site it's useful but I want more advice for my question.

 

[Fenland]

Yeah I have visit site it's useful but I want more advice for my question.

How about starting by saying thanks for the advice you have received so far.......

 

Yeah I have visit site it's useful but I want more advice for my question.

The reason i directed you to my website is because you have not much information in your question. Not enough to give advice on.

As i said if you would like further information i am happy to have an informal chat with you but i will need to ascertain further information.

We offer a free advisory service and there would be no charge for some informal advice.