Was wondering if anyone out there has been through a 'new' Chapter 7. I haven't filed yet, talked to a lawyer but through the 'mumbo-jumbo' , 'jumbo-mumbo' lawyer speak and the sunshine pumping, I don't know what to expect.
Bought this carry out pizza shop a few years ago and since then Ford left town, Marconi Industries closed, a bunch of smaller businesses have left also.
The only thing we seem to have plenty of now is crime. Got the place up with a realtor but everybody is afraid to come to this town.
So, bankruptcy may be inevitable. Anyone with advice or experience with this would be greatly appreciated.
No charge for the songs....
A BTT is the best I can do. This needs a higher-powered brain than that of a broke-down system administrator...
All I can say is..nobody loves me but my mama.
And she could be jivin' too.
Turn it into a "Hooters".
With the absense of money in your neck of the woods, perhaps going to the barter system would be worthwhile. You could start a pizzas for crime sale. Thieves could trade stolen goods for your pizzas and then you could put those goods on eBay.
BTT
Open a liquor store.
Keeping it bumped....about all the help I can give ya FRiend.
Too bad you can't outsource that crime to Washinton, D.C.
People simply do not understand that outsourcing is not a win/win. Individuals, families, communities are devistated by this.
Somewhere in China, the communist party bosses are celebrating. What used to pass for conservatives are celebrating right along with them.
Under the old law, people would max out what was left of their credit lines on personal items and then hide behind Chapter 7. There was a LOT of scamming going on.
The new law will shine a flashlight up your @ss to make sure you are really penniless, but if you are really and truly broke, don't sweat it. Bankrutptcy sucks, but they can't get blood from a turnip.
I was born one mornin' it was drizzlin' rain.
Fightin' and trouble are my middle names.
I was raised in the den by an old mother lion,
Ain't no high-toned woman make me walk the line.
Well, you see me comin', better step aside.
A lot of men didn't, and a lot of men died.
One fist of iron, the other of steel,
If the left one don't get you then the right one will!
Gee... that last line sounds a bit like the IRS ...!
Demographics will surely catch up with you.
I sing songs like this around the house while working.
My kids, not knowing anything musical earlier than the 80's (except what I play) think I'm singing original stuff I'm making up as I go!
They think I'm either brilliant or insane!
Where are you located?
Become a Cigarette manufacturer and open a coffee house with sit down tables and entertainment on the weekends stock 3 walls with books of all sorts for people to read and buy ....
Use your Imagination man !
Sorry to hear about the pizza place. I tried my hand at that years ago and had to concede to Little Ceasars, et al (there went my dreams of owning the Red Wings and Detroit Tigers).
I practice bankruptcy law but everyone is still navigating the new law and its hurdles.
In your case, the issues are:
1) Are you incorporated, and if so, did you personally guarantee your business debt? If you aren't liable for the business debt, an Ohio corporate attorney can help you simply dissolve the business and assign any assets for the benefit of creditors.
2) To the extent that you are liable, and can't afford to pay it off, you will probably have to file Chapter 13 (as would have been the case last year) since, in your occupation, you PROBABLY have too much income to qualify (unless maybe you've retired or if you have lots of dependants). Also, if you have a lot of equity in your house and if Ohio doesn't offer you greater homestead exemptions than the feds, you will need to go Chapter 13 to keep your house from being attached for creditors.
The long and short of it is, see an Ohio attorney and get a consultation. That is often free, but even if you have to pay a couple hundred its worth it to get a complete evaluation of your options.
Hmmmmmm.....register as a democrat, tell em yer 1/3'd Apache on your daddy's side, 1/4th mixed minority on yer crazy aunts side (the one no one speaks of at reunions) and in touch with your feminin side and can't let go.....
Then go see the small busisness administration bean counter and look for aid packages that will divert the cost of a poor local economy till yer back in the black or I win the lotto and come up there and we'll pay it off for ya, scrape it back to bare earth and make it a park if that's what ya so desire........"wish me luck" !:o)
That's about as close to any advice (albeit piss poor) I can muster friend and bump yer question to the top.
Hope ya get some relief CC !.....Stay safe !
No nooooze from the headhunter in indian country BTW....haven't forgot ya.
It's a big job just gettin' by with nine kids and a wife
I been a workin' man dang near all my life
I'll be working long as my two hands are fit to use
I'll drink my beer in a tavern,
Sing a little bit of these working man blues
I keep my nose on the grindstone, I work hard every day
Might get a little tired on the weekend, after I draw my pay
But I'll go back workin, come Monday morning I'm right back with the crew
I'll drink a little beer that evening,
Sing a little bit of these working man blues
Hey hey, the working man, the working man like me
I ain't never been on welfare, that's one place I won't be
Cause I'll be working long as my two hands are fit to use
I drink a little beer in a tavern
Sing a little bit of these working man blues
Sometimes I think about leaving, do a little bummin around
I wanna throw my bills out the window catch a train to another town
But I go back working I gotta buy my kids a brand new pair of shoes
Yeah drink a little beer in a tavern,
Cry a little bit of these working man blues
Hey hey, the working man, the working man like me
I ain't never been on welfare, that's one place I won't be
Cause I'll be working long as my two hands are fit to use
I drink a little beer in a tavern
Sing a little bit of these working man blues
Yeah drink a little beer in a tavern,
Cry a little bit of these working man blues
-Merle Haggard