I, over the past 5-6 years or so, have started 3 work from home businesses. Personalized cartoons, personalized name gifts and personalized greeting cards/invitations. All required start up costs and all that stuff, advertising, web sites, supplies. All have been abandoned. I am now a self employed nail technician. That also required quite a bit of start up costs, besides the education. I have $34000 in CC debt. I am current on my payments, but business is very slow. I am looking at settlement, I think. No one will help or offer help because I am current. But I want to know how bankruptcy works for small business people? One of the CC's is in my nail business name and the other 3 are in my personal name. Thanks for your help
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.