Forget about the lenders for now. If you’re making $4,500 a week, stop paying them until you’re in a better spot. Get yourself back on your feet first.
I’m seriously considering stopping payments next week. Just worried they might sue.
@Wynn
Who is “they”? Are the loans unsecured?
The loan companies, and yeah, I believe they’re unsecured.
The loan companies, and yeah, I believe they’re unsecured.
If they’re unsecured, they can’t take much from you. Don’t stress too much about it.
The loan companies, and yeah, I believe they’re unsecured.
Double check that.
Always verify phone numbers posted in comments on official websites before calling for safety reasons.
Reach out to a local non-profit credit counseling agency for help with a debt management plan. Best of luck!
If you have your FFL, you could try selling guns online. Sites like Gunbroker can help. You can also look into services like refinishing guns or selling custom-painted ones. Some people are willing to pay a lot for unique designs.
@Merritt
One of my employees used to do Cerakoting, and we had a setup for custom guns. I’m still sitting on $15k worth of equipment, but where I live, folks prefer old-school wood guns. I did sell a cheap WASR-10 at a gun show recently, and people were loving it, though.
@Merritt
I can’t compete with the big guys. Some guns have such low profit margins that I end up losing money after Gunbroker takes its cut. And with my store closed, I’m selling fewer silencers too.
Stop being so hard on yourself. Starting a business is tough, and most don’t make it. Do you qualify for any COVID relief for small businesses? Maybe talk to the loan providers about giving you some breathing room. You might need to find a stable job and keep the gun shows as a side hustle for now. Can you cut deals with other shops to move inventory?
@Vince
We weren’t in business long enough to qualify for COVID relief. I’m talking to my lenders, and if they won’t help, I’m just going to stop payments. The other gun stores around here are in bad shape too, so there’s not much collaboration possible.
I’m looking for a stable job that works with my gun show schedule, though. Thanks for the support; it helps a lot.