Originally Posted by dirtyplotte
you can keep your house, just FYI. i dont know if it would be worth it to you to do it, but it was for us. our debt was unmanageable.
well if we had to declare bankruptcy it would be because doug's business goes under. it still could happen. he's guaranteed a ton of **** (business stuff) with our house so i am not sure they wouldn't take it.
our personal debt isn't tragic except for the $$ we loaned to his business. they owe us a lot of money. they were paying the interest on it but couldn't for several months. and we didn't have the money to pay it either so it was getting dodgy. it's better right now but i won't feel better until his company pays us back some of it.
it could be a sudden death cascading effect for his business to go under though. they were almost there. behind on truck payments and if their trucks got repo'ed they wouldn't be able to deliver materials. if they didn't pay for materials they wouldn't be able to keep jobs going or pay the people calling. and on and on. plus jacking employees by not being able to pay them. paying employees always comes first.