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Trying to determin my options with a business loan default

1 Answers. Asked on Apr 30th, 2017 on Bankruptcy - Michigan
More details to this question:
I have a high interest rate daily payment loans with Rapid Advance. I really didn't understand what i was getting myself into when I took the loan. Anyhow, my business has been down in sales. Literally half what we normally do. I was able to get them to reduce the payments for a while but need a more long term solution.
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Answered on May 01st, 2017 at 6:18 AM

You have not given enough information for any sort of educated answer. Find a good local bankruptcy attorney and explain your ENTIRE situation to him or her for the best advice. Good Luck.

David J. Hutchinson 106 N. 4th Ave Ann Arbor, MI 734-930-9000

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If you're struggling to pay off your delinquent debts and getting hounded by collection agencies, then it's time to address your financial problems. And filing for personal bankruptcy may be the ideal solution. Whether you're an individual or married couple considering Chapter 7 or Chapter 13 bankruptcy, or a business considering a Chapter 11 reorganization, or a farmer considering Chapter 12, you need the advice and guidance of an experienced bankruptcy attorney. Your lawyer can help determine which form of bankruptcy is right for you, prepare and file all of the paperwork, and advise you throughout the bankruptcy process.
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