Losing It All

More than five years ago, I met a gentleman who had the same beliefs I had. He led me down the path of belief that I would become wealthy by pursuing my God-given talents with him as a partner. He would show me how to be rich. He put up some money and off to start the business.
It would only cost 1million dollars, but we would make that back in no time.
It wound up costing about 1.5million. Dont worry, he said.
He was in charge of billing and collecting money.
After one year, i discovered he was not doing a good job.
I took over and stumbled several times, but have things running well.
Now, the banks are cramming down, went to court and have judgements.
I found a way out...got hard money guys to come in and take a small piece and have other partners go away...the offer was about 0.20 on the dollar investment back to the partners and i would carry entire load going forward. they would be released from obligations.
that was not acceptable.
no counter offer.
just pay up and we will go away.
i do not have the $$.
now facing BK.
house and combined wife accounts safe, but now my other business is in jeopardy.
sad thing is that i employ more than 15 people...they will lose their jobs...but i need to go forward.
if only there was a counter offer.
seems partners want the BK.
but they will then be faced with same decision process.
bank will come after them as well....
makes no sense.
just venting, i guess.

WanderingWrestler WanderingWrestler
Sep 5, 2012