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@ruthofzion Would be in a new company after current had been absolved.

@makas No, out of my whole employment payment on time has been #1 thing to count on.

@makas He was a guarantor for a loan the company took on which is the reason for dual bankruptcy. Starts fresh but with that on his history

Personally guaranteed the loan for the business. Receivables never landed. Company would be created ASAP to continue serving clients, I am looking at 40% ownership, I’m struggling to estimate the time since I currently go to school. Would likely consider dropping out to give it my all. I will be...

@albertha849 Start up is minimal due to closing one and opening the next day. As a 40% owner that leaves me with no power?

@riverrider Any knowledge on ways to capitalize on it?

@risen145 40% ownership compared to his 60%. Will need to review financials I’ve seen some, but not enough.

@danielletee I believe we are considering more towards a 40/60 split his side higher. Didn’t quite know where to start when talking numbers.

@johnejohne Thank you

@albertha849 Thank you for the advice and input

@supercow Thank you very much! Will follow your advice and start looking around. I appreciate it.

@akeeda That one customer is a municipality grant which was supposed to pay for a $250K project. Between dragging feet, resignations etc it’s been 2 years without funds. You are suggesting I figure numbers on a minimum 60K salary before profits etc right?

@akeeda He’s mentioned multiple times that he could get us jobs at an industry leading company. I know he’s trying to look out for me in that manner, but he also said he doesn’t want to end his business on a failure. You are correct in the sweat equity part, as I’m younger and will be in the...

@risen145 Primarily managed IT services for companies, as well as web development and SEO.

@risen145 I believe he’s working on that, it’s a municipality which has been dragging along for over 2 years now. I will look into getting all that in writing and getting with an attorney for it too. Thank you

@tobelieveinhim Will do thank you for the advice

@tobelieveinhim There isn’t any talk of needing a loan for the potential new company as we currently have everything necessary for the work we provide. What kind of attorney and what questions should I be asking or using the attorney for?

My boss has recently told me that he has to declare bankruptcy due to a massive client who never paid. He is offering me partner status in the next company and I could really use some outside advice. I’m 20, in college, and planned on going into sales. My business on the side hasn’t had any...