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    0 Replies Latest reply on Dec 13, 2008 6:01 AM by Artfaux

    Consolidate business debt

    Artfaux Newbie
      SInce there obviously is not going to be any bailout for us little guys is there any chance of a package possibly developing to help the small businesses to at least consolidate their debt?
      Its funny that all these bailout packages that are being handed out to people who made bad investments in the realestate and in 2 or 3 homes are simply walking away from them. I have managed to keep my mortgage paid and my business running for the last 10 years with a perfect credit record. The last two years have been devestating,sales down,salary down 50% , debt ratio's through the roof because of creditors cutting us off at the knees, but I have still manage to keep my bills, business debt and mortgage paid on time.
      When I went to try and get help on a refie to get a better rate on my interest only loan on my home(7%) I was told nothing could be done because I wasnt 3 months behind on my mortgage payment!
      I would like to know if there is a loan to combine everything into one loan temporarily until things turn around?