I have a business that I purchased, with a few personal loans and my own assest. All the personal debt is unsecured. The business has been surving on my personal assest, but this recession has really taken a hold of my business. Every month I have to inject another 2k-3k of my personal money. I have not borrowed any money since the purchase of my business. My creditors have cut of my lines off, not because of late payments or anything like that, but just to be safe.
To top it all off, my wife helped my secure a loan as well.
My main question here is, " WILL I BE ABLE TO BUY ANOTHER HOUSE AGAIN" My credit history for the last 20 yrs has been 750-800+. I have had 2 homes for the last 12 yrs, but sold them to finance my business, so I rent right now. Will I ever be credit worthy again.
This recession is taking me and my wife down to bankruptcy.
My business was doing ok for the first year, but has gone down 40% since last Sept 2008.
ANY HELP I WOULD REALLY APPRECIATE IT.
To top it all off, my wife helped my secure a loan as well.
My main question here is, " WILL I BE ABLE TO BUY ANOTHER HOUSE AGAIN" My credit history for the last 20 yrs has been 750-800+. I have had 2 homes for the last 12 yrs, but sold them to finance my business, so I rent right now. Will I ever be credit worthy again.
This recession is taking me and my wife down to bankruptcy.
My business was doing ok for the first year, but has gone down 40% since last Sept 2008.
ANY HELP I WOULD REALLY APPRECIATE IT.