In article <1132711136.026484.75110[at]g47g2000cwa.googlegroups.com> ,
"otherhalf" <kindley2[at]yahoo.com> wrote:

- quote -

One has to step back and see if they really do have a viable
business. Times change, markets change. Rather than desperation,
perhaps a dose of realism would be useful. Maybe it is time to
shutter the business activity and get a paying job. That would
bring in cash flow and help the money problem. Once you have
things back under control, start back part time. When the part
time income matches what you make on the job, that is your signal
to quit the job and go full time in the business again.

-john-

--
================================================== ====================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ====================

Hello all,

I own a business and due to the bad economy my sales have gone down
considerably the last several months. I've gotten behind with
creditors and several credit card companies have raised my interest
rates considerably. In a desperate attempt to keep my business open
and to avoid bankruptcy, I contracted with Commercial Credit Counseling
Service (CCCS) in New Jersey. It's been 2 months and so far all they
have done is send out letters to the 10 creditors I submitted telling
them the CCCS is handling the negotiations and then offered settlements
to a few of them.

CCCS has been very upfront that they are a for profit company and they
told me what the fees would be before I signed the contract. So, they
have not broken any laws. I'm probably one of the most stupidist
business owners in the world because I really didn't realize what these
high fees would mean. So far, they have about $2500 of my money and
have deducted out $500 for listing 10 creditors with them. They have
yet to send any money to any of my creditors and have not reached
agreements with anyone. Most of my creditors are refusing to even talk
with them. CCCS is telling me that they are wanting my account with
them to build up so they can pay off my creditors in lump sums that are
supposed to be considerably less than what I owe. CCCS is telling me
they would save me thousands over time.

I'm planning to talk with an attorney to find out if CCCS can enforce
the contract. The contract states that if I withdraw an creditor, I
own CCCS 30% of the balance owed to the creditor. I know that I could
probably stop paying CCCS and force them to come after me for the
contract amount, but I would think that if CCCS is not really doing
anything for me, and is actually hurting me by not paying any of my
creditors, I would probably win in court.

My question is, has anyone else out there dealt with this company? I'd
appreciate both good and bad experiences.

Thank you in advance.