Bankruptcy

My husband and I are in a similar situation. We have had several busineses over the years that just don't seem to work out. One is currently involved in a lawsuit by the former partner who took off with the company.

The current contracting business we started about six months ago and due to this economy it is going under fast. We don't have enough money to get the current work done. We have taken money from homeowners and can't finish/start their jobs, we owe money to creditors and subcontractors who are struggling now as well. There isn't enough work out there to keep everybody afloat and the large homebuilders are coming down and taking the little jobs to keep their books afloat. We feel like total schmucks. We have also been working under another contractors general license to get larger jobs done and can't finish those...where does that leave him?

I'm not so worried about the money...it's just what a crappy person I am. I feel like such a failure at such a young age (35). My husband is currently in the process of filing a personal Ch. 13, so he should be protected. I just can't stand what all these people will think of us.

Please know that you are now alone.