I'm a professional handyman. I have my own business, called Jim's
Handyman Service. I have been in business for many years. But lately
the work is slim due to the economy. This has allowed me to do the
many repairs needed on my own home. Everytime I complete a job, I
write out a bill to myself, the same way I charge my customers. The
problem is that I can no longer afford to pay myself. I'm in debt for
almost $50,000 to myself. I asked the bank for a loan, and promised
to repay the debt in short order, but they said that they thought the
debt was senseless and said that my income has not been good enough
lately to repay such a large loan. I then asked them for a second
mortgage on my home, (appraised and valued at $179,000), but this time
they told me to just go home and fix my toilet or something. What do
I do? The interest on this debt alone is going to wipe me out, since
I charge 24% interest on unpaid bills after 30 days, and most of this
debt is beyond 90 days, which means that I can begin legal forclosure
action against the property. It won't be long before I lose my home.
Even if I use up all of my retirement savings, I will only be able to
pay about 35% of this debt, and if I take all my credit cards to their
limit, I will still only cover a total of about 50%. Does anyone know
a legitimate solution to this? Please help me before it's too late !

Thank You kindly,

Jim's Handyman Service - Orlando FL.