I’m contemplating closing down a business and suffer the loss of 200k of my currency (about usd 50k). Redditors here talk about success stories, how about losses? What’s your biggest loss?
I’m contemplating closing down a business and suffer the loss of 200k of my currency (about usd 50k). Redditors here talk about success stories, how about losses? What’s your biggest loss?
Bank came after me more than 10 years after I left a startup that I was one of the founders of. I’m now paying off $60k (negotiated down from $100k). It sucks, but I’m about 3/4 of the way through paying it back.
You didn’t have the protection of the corporate veil?
Banks want a personal guarantee. They know about separating assets through a corporate entity but they still want their money in the end.