my business of many years just took a huge hit by a couple of customers that have failed to pay thousands in invoices. i am at the point where i can't afford to get an attorney nor advice of any kind and am at my wits end.
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Is the fact that a place that sells electronic toys, and thus luxuries, is going out of business? 
meant to preface second question with "how bad is it"
More on How bad is it that Circuit City announced its filing for bankruptcy?
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I figure someone is left holding the bag, and it doesn't seem fair if a Mom and Pop were put out of business because someone didn't have the financial maturity to live within their means.
More on When people declare bankruptcy, what happens to the people who are owed money?
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I have purchased some stock of CIT when it was $.30 . For about 3 months it went about and down in value and then eventually the company when bankrupt. Now its out of bankruptcy and the stock is work $29.
More on What happens to stock if the company goes bankrupt but then comes back into business?
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I am filing Chapter 7. My personal account does not show much activity. My business account shows sales of roughly 20,000 monthly however when I pay off the company that finances my inventory ( I do not own my inventory) It shows a profit of around $2000 per month. Even though my profit is below the median income, will the large deposits arouse suspision on the part of the court. The large deposits are followed by large payments to that company that owns my inventory.
More on How will my bank records affect my chapter 7 bankruptcy?
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Issue shares. Get investor money. Then file bankruptcy. Shares are worthless. Then restructure and repeat.
Is this the new business model for corporations and executives.
We see this a lot in business these days. Airlines, Nortel, Charter, Sirius, K-mart etc.
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I live in the UK and got myself in a mess with money Im around £10000 in debt, and had no problem paying the repayments untill I had a medical condishion which is stopping me to work, Iv thought of alot of things to repay including my own home business , but Bankruptcy has crossed my mind , but what is it what are the benifits and what are the downfalls, my parents say it will effect me for life , will it?
Thanks for that!
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I can do loans in seven states, and I can even get someone a house in bankruptcy (chapter 13). 500 scores aren't usually a problem. I can do jumbo loans up to 3 million dollars. I can even do no documentation loans. My coverage areas are:
Alabama, Florida, Georgia, Illinois, North Carolina, Pennsylvania, and Texas.
More on I am new to the Mortgage industry, what are some ways to create new business?
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I ask because I have a job that I have maintained which probably puts me over the means test but I have to find a way to get out of this business and hoping someone has some advise.
I ask because I have a job that I have maintained which probably puts me over the means test but I have to find a way to get out of this business and hoping someone has some advise.
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