Options for Debt After Business Failure

My question involves business law in the state of: Delaware


Been in business (sole-prop) for a little over a year doing custom web development for medium-sized businesses. Most of the work lately was done on a retainer basis where clients would pay up front for services delivered a month or two later. Important note is that we did a majority of our invoicing using Google Checkout, which is similar to Pay Pal.

Long story short, we fell short on a few projects and were unable to keep the business running effectively and my staff has since been dissolved. After attempting to work with our clients, most of the them simply charged-back the transactions to Google Checkout: leaving my business with a large sum of debt that we cannot currently pay (~90k).

Question is – what options do I have here? I have just been hired in a Fortune 100 company and will have some income to pay this debt over time. Should I simply reach out to Google and explain that I’m willing to pay the debt back over time? Or are there other options (I’m not interested in filing bankruptcy at this time). Thanks for reading and any feedback.

As you didn't incorporate, you are personally liable for the debt.

You're not interested in bankruptcy, so you need to explore your options for repaying the debt. Asking about a payment plan would be one way to get started.