Been there done that. Bad accident, impatient creditors, undercapitalized business.

To share the short story, had an accident and could no longer work at old job, tried to start a business, secured a business line of credit, before the business could get started they cut the credit line. So old income gone, new income gone combined with serious physical injury and medical bills.

The sad thing for the creditors is that if they could have waited, I got a settlement for the accident and got back on my feet. But had to go ch 7 since they were suing and keeping me from being able to get started. I would have been able to pay everything back if they would just listen. The good news is that I came out ahead in the end, discharged over 150k in debt, kept everything including the injury settlement, and now make a good solid 6 figure income. I don't understand why a lender will not try to work something out, but I got the better end of it.

You'll be better off without the anchor you are currently dragging, everything is much easier if you just get it done. I am so far ahead of the game, ironically, if it wasn't for my creditors I would still be paying. Sometimes there are disguised blessings.