Originally Posted by NoWhErE (Post 16121882)

Sad story Scott but you'll pull through.


My first question though is why didn't you incorporate a company and put the bar under your its name? That way if it went bankrupt, you would not have been personnaly liable and wouldn't have lost all of your personnal stuff.

I've never incorporated a company myself, so I might be dead wrong on this...

Originally Posted by BVF (Post 16121297)

This is fucked....It's like being one of the first prospectors to arrive in California during the gold rush of 1849....You get there and stake a big claim and haul in big chunks of gold...You then have a nice operation going and you leave to start an oil company...

Then the oil men eat you alive and all of that inital gold rush money is now gone.....Then after all of that, having to go back to California to find a new way to pan for gold....Except that the gold rush is already over....

Sleazy, if I were you, I would do what I said to do years ago and that's MOVE THE FUCK OUTTA CANADA!!. I don't see a reason for remaining in a cold climate all alone.....And now that the house is gone and the good friend is gone, pack up skufty and hit Panama or Belize....Then you can get you a nice native girl and pop out some kids while living cheaply in another country.

That's at least what I'M gonna do.

Originally Posted by alias (Post 16121418)

Keep us posted please.

Originally Posted by BV (Post 16121626)

What a fucking Pussy,
Do the fucking interview :2 cents:

Originally Posted by BVF (Post 16122542)

Why spend hundreds of thousands of dollars for a bar in cold ass Canada when you can go to Central America and serve beer and rum at your own rustic beach shack bar?....Why spend years in a cold lonely place by yourself when you can be enjoying hot weather and rubbing on fine toned bodies?....I just don't see it....

Originally Posted by Nickatilynx (Post 16121401)

Good analogy..been mentioned before to me by Serge Oprano.

And here is where all of us fucked up by not studying history......


The people who made fortunes , real fortunes, which they kept in the gold rush were not the prospectors.(Webmasters)

It was the bankers (epoch,ccbill) the hotel keepers (National net) ..etc etc...

;)

Originally Posted by SleazyDream (Post 16121387)

went though that with the trustee, and it's his call and he's already made it..

He told me he looked at as similar to a real estate agents client list - salable with consent but this is my chosen business and I'd rip everything I could out of the site if it was sold without my consent and I could legally do that too so they figured they'd make more money for my creditors garnishing my wages while in bankruptcy than selling it and having me attack it and ending up in legal battles. The site employs a lot of people, dumping it would put them all in financial trouble as well. So basically they give me a salary to live on and the trustee takes the profit from it, and in two years who knows what it'll be worth so there's a meeting then and probably a settlement. If they sell it it would have to go into trust for months with all the legal stuff around it and that would kill all the traffic and value. Yes there would still be some value, but after discussion and a lot of looking into they felt there's more if I work it and they take the excess. So the simple answer is I'm working for the bankrupsy trustee lol

Originally Posted by CDSmith (Post 16123867)

I'll say this much, filing bankruptcy today doesn't come with the stigma and shame it once did. It's a setback, only. In fact it can sometimes be a major pain reliever. I've known several who have filed for it over the years, all of them are back in the game and surviving just fine, you will too I'm sure.

I would however avoid like the plague any future ongoing debt arrangments that come with a 30% interest rate attached.