considering BK and need HELP!

[ejny65]

Hi:
I am self-employed and get paid contract by contract and job by job. It was good up to almost three years ago. But I lost some clients and then some more and could not replace them by new clients. I usually lived on credit cards and then when I get paid I paid a lot more than min. to them for years. Several times I paid them off, but like cycle, it happened again and now I have almost 80K unsecure debt. a family of 4 in Kansas. and my personal yearly is below median income. I need to know how difficult it is to do Chapter 7 for a self employed. It is a corporation, but still, can they get into the corporation since I am the shareholder? One more thing, as far as the book keeping, its a little bit messy since I spend from personal and then rembursed myself from corporation account. I couldnt make last month's mastercard payment, and citi is already calling several times a day. Any suggestion is appreciated. are there self-employed in my situation here? Thanks.

[keepmine]

Self emploued can expect more scrunity that other filers but, a Chapter 7 is very doable.
Most bk lawyers give free initia; consultations. Speak with 5 or more and get all of your options explained.
As far as getting to the corp. The corp is an asset-depends on if it has tangible assets worth pursuing.

[lrprn]

ejny65, I deleted your duplicate post in the Ch 7 forum. Our members tend to surf all the forum areas - there's no need to post the same questions in multiple places.

By keeping all your responses in one spot here, you'll get more and better responses overall.

[JRScott]

Since we are talking about a mixture of business and personal finance with how you have it entangled I'd make sure to get a lawyer, see 4-5 and run the situation by them, most give an initial free consultation.

Still it is very doable depending on the full situation.

[Boscoe]

Best advice we can offer now (aside from go see those attorneys) is to keep ALL receipts, statements, etc. from now on, and go searching for everything for the last 12 months, as you may be asked to produce alot of it.

Start with the last 2-3 years tax returns, 6 months of pay stubs (or in your case, cash receipts - something to prove income) and bank statements. Actually last 6 months of all statements, including mtg and car loans, investment statements, credit card statements, utility and other monthly bills. You get the idea. The more documentation you have, the better things will go.