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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » Can anybody suggest me the better way to stay far from Bankruptcy?

Can anybody suggest me the better way to stay far from Bankruptcy?

I belong to Asian country and our bussiness is clashed in whom bases we got bank loans and uses all the money of bank loans and the amount from credit cards in paying back the monthly installments from one years.The situation is now that we have nothing to pay more and we also want to avoid from bankruptcy.Here in my country interse rate is too much and nothing any kind of Debit consolidation firms working here have .

I want to know any solution who could help us to be safe from bankruptcy

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5 Responses to "Can anybody suggest me the better way to stay far from Bankruptcy?"

  1. kutakani says:
    make $$money…DUH
  2. ngina says:
    The avoidance of bankruptcy lies in proper planning. The first think you need to do is burn those credit cards. They will just accumulate more debts which will prove more difficult to take. In your mind you need to have a motto that there will no be taking a loan unless the loan is capable of paying for the interest required and at the same time make a profit. In whatever situation you will find yourself in, avoid taking out more loans. It will only sink you further.

    Then focus on improving your business by diversing. I am sure that you can focus on the area where profit is made and work out a plan with the bank to find a simple way you can pay the loan without having to close the business nor declaring yourself bankruptcy. Avoid the situation that has brought you into these mess.

  3. dds502 says:
    Downsize now! Cut down on your expenses and overheads, ask for moratorium from your creditors. Do anything to operate on a shoestring. Then step back and review your business. Ask yourself, is it worth saving? Am I making money? Is it worth all the headaches and pains I’m experiencing now? If the answer is “no” then slowly close your business and think of another one to start where you’re really good at. If none, try considering employment for the meantime while waiting for a better business opportunity to come your way. Don’t be ashamed to surrender your business if it’s only causing you problems. It’s more shameful when you file for bankruptcy.
  4. David D says:
    I found some good info here.
  5. G. M. says:
    GOOD Luck

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