Long story short: I ran a house flipping LLC that failed badly from a couple of $1-$3 million dollar flips. I have around $500K in personal guarantees, $700K in unsecured debt, and an active lawsuit from one of the investors for another $450k (I owe 25% of that).
I only made about $30K last year after expenses due to trying to put myself together and not having the same confidence. There is mathematically no way I can pay this back right now.
Part of me wants to keep grinding and pay everyone back because it feels like the right thing to do. The other part knows I’m just delaying the inevitable and burning through whatever cash I have left.
Has anyone been through something similar — especially with business debt and personal guarantees? Did you file? Do you regret it or was it the best decision you made?
Looking for real experiences, not just legal advice. I have an attorney. I just want to hear from people who’ve been there.
submitted by /u/SignificantDark9765
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