Legal Question in Business Law in California

buisnness debt

I have a buisness sole propriotor we were doing well i purchase from vendors and sell to mfg,we did well due to the economy mfg have closed we have debt with many vendors we cant catch up on pymt we have now inc.but what do we need to do about our debt and keep our buissness?


Asked on 7/18/08, 5:00 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: buisnness debt

Pray. Or, possibly turn to the good book, Chapter 11. If you can't collect your receivables, and you can't pay your bills or negotiate with your creditors, you don't have many options. Reality is tough, and life is a bit*h when the economy goes bad.

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Answered on 7/18/08, 5:46 pm


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