On Oct 12, 6:13 am, "John A. Weeks III" <j...@[EMAIL PROTECTED]
> wrote:
>
> If the business fails, not matter how it is structured, your
> credit will be in the tank.
it depends on how you finance the business (OK, we had the house
first, and a considerable amount of equity in it), and we financed
ours
with our equity line.
The business we started 12 years ago failed. We closed it after 2
years,
and then started paying off our equity line. Never missed a payment
on anything, and never had problems with our credit rating.
The only (semi-)fixed liability overhead I have in my current business
is property taxes on vacant land (which quintupled a few years ago),
but the business carries that and our (full time) jobs carry us
(financially. Of course they require us to do the work first.).
Aloha,
Maren
Palms, Etc.: Tropical Plant Seeds - Hand-made Jewelry - Plants &
Lilikoi
http://www.jach.hawaii.edu/~maren/palms_etc/
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