When your father leaves a huge debt!
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martin
Apprentice
Joined: 19 Jul 2004
Posts: 4
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 Posted: 01/29/08 - 11:52 Post subject: |
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| My father owned a company that was doing well at the beginning of its business. However, in recent years the things went really bad, he took too many credits, but his business still got completely ruined. He left a huge debt and it is up to me to settle it somehow. However, I am not sure what to do. If anyone could give me some advice on that matter, that would be great. Thanks in advance. |
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emmy
Apprentice
Joined: 03 Oct 2005
Posts: 18
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| Posted: 02/28/08 - 04:40 Post subject: |
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There are several things you can do when you are in such a large debt. Your situation is difficult, but, I am certain, not unsolvable. First of all, you can see with your bank to get a credit that would cover your father's debt. The interest rate would probably be high, but it would give you some time clearing the starting debt. It seems to me that you will have to be very patient about taking care of it. If you have a good credit rating, it could be easier for you. I suggest you go to http://www.statssheet.com/articles/
article27840.html for a great place where you can see many info about debt counseling. Best of luck. |
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