My husband is still waffling on whether or not we should file bankruptcy. Our business loans are going unpaid, and we have no way to pay them. The main business loan holder offered us 3 months interest-only, but we can't even afford that, and yet DH still seems to think that a miracle will happen and we will sell the business and everything will be hunky-dory.
He had a substantial savings account that we are supposed to spend before we file. It's several thousand dollars of his personal money. He's spent some of it, but not all of it. Now we are coming down to the wire, in arrears on both of our huge business loans, and he's still got money sitting in the bank. He refuses to talk to the lawyer (because the lawyer won't tell him what he wants to hear like his friends will). Everytime I ask him if he's taken care of the money he gets angry with me. Sigh.
I just don't see how we're going to avoid filing bankruptcy at this point, but I am deeply worried that the trustee is going to give us a hard time about the money that we didn't spend until the last second and the fact that we own a small business. I just have a feeling we're going to be red flagged and everything is going to suck.
DH's current plan is to ask the bank with the main loan for more money, which, if they give it to him, I guess they deserve what they get. Not that they will, because who would loan more money to someone who's already not paying his loan? Dumb.
Sigh.
He had a substantial savings account that we are supposed to spend before we file. It's several thousand dollars of his personal money. He's spent some of it, but not all of it. Now we are coming down to the wire, in arrears on both of our huge business loans, and he's still got money sitting in the bank. He refuses to talk to the lawyer (because the lawyer won't tell him what he wants to hear like his friends will). Everytime I ask him if he's taken care of the money he gets angry with me. Sigh.
I just don't see how we're going to avoid filing bankruptcy at this point, but I am deeply worried that the trustee is going to give us a hard time about the money that we didn't spend until the last second and the fact that we own a small business. I just have a feeling we're going to be red flagged and everything is going to suck.
DH's current plan is to ask the bank with the main loan for more money, which, if they give it to him, I guess they deserve what they get. Not that they will, because who would loan more money to someone who's already not paying his loan? Dumb.
Sigh.
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