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ptwhite

Junior Member
What is the name of your state? Mo
We have gotten behined on all our debt but I have tried to send discover something every month but they double what I send with other fees now they are geting ready to send the account to collections and I am sur after that they will sue. we own our own business we dont make anything from it but dosent that mean we cant file bankrupthy if we do we would lose the business right? I was told that if we sent something every month they could not do anything but I guess I was wrong will turnig it over to a credit foundation for help work or just make it worse
 


djohnson

Senior Member
Sending something every month stopping collections seems to be a popular myth. They have the right to collect their money according to the original terms or they can and will sue you. What you can do and would be better off doing depends on the the type business you have. Is it a corporation or partnership or what? What name is the debt in, yours personally or the business?
 

ptwhite

Junior Member
the business is just a small business owned and run by me and my husband. the debt is in our name not the business. I have been looking in to fileing chapter 13 today but I am not sure.
 

djohnson

Senior Member
I'm not sure what part of the business you think you would be losing then. You would be filing personal and with a 13 you pay back anyway. Unless you have open contracts that this business needs to run or you are going to give something back that it needs then I don't see how it would even come into play.
 

ptwhite

Junior Member
Well when I first wrote I didnt know that there was different kinds of bankrupty I thought when you filed you had to sell everything to pay off the debts I guess we are just going to talk to a attorney about the 13 and see if we can file that way I guess the laws are different in every state. All I know is there is no way that I am going to let these people keep me crying on the phone everyday. I am about as stressed as I think I can get without just completely losing it and being medicated!
 

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