Quote:
Just wanted to let you know, you have done nothing wrong what so ever. I am in same boat. We were Self Employed and making in excess of $600,000 a year. Granted that was gross not net, you know how self employment goes. I don't have to explain that part. But, I can tell everyone that I never dreamed the bottom would fall out of our Business. It was only growing larger and larger every year.
When the Economy dropped, we exhausted all of our reserve funds to try to and keep the business going, but it just couldn't be done. We can not change the Economy, and that is what has put us under.
Living within our means is a big statement!! We were living within our means. But, when you have to take every penny you have saved with no income coming in, because the business is no longer making money, then it goes pretty fast. Esp. with General Liability, Vehicle Insurance, Vehicle payments, Payroll, Fuel, etc. etc. etc.
Until someone is Self Employed, then you truly can not understand everything that goes along with it. When your Self Employed you rely on Contractors to Pay your draws, if those Contractors do not pay, then your out all the Labor and material, etc. When the Economy went under, we were not paid by several Contractors, in excess of $150,000. So, you take that money that we did not collect, on top of the Labor, Fuel and material cost for all those jobs. That's a hard hit!
Cop-out? I don't think so. So, whomever thinks it's a cop-out, please tell me how I can pay the debt for the Company on what we are making now, which is $29,000.00 a year.
Sonew, I know how you feel, and don't let anyone make you feel that you have done wrong. Things happen in life that you can not control!
