Ask HN: My startup failed. $9k in debt and need to pay most of it in 12 days.

📰 Hacker News · debtscrewed

HN, A startup that I am part of failed. Prereq: USA, C-Corp in Delaware. We have $6k in server fees to Rackspace and $3k in debt with our lawyer. We also have a huge amount of credit card fraud that went through our credit card processing account/merchant account (like $8k), which is going to be an ongoing issue for the next year+ and may end up in me and my SSN being blacklisted from Visa and Mastercard. I used to be able to cover this kind of failure, but over the past few months, I've sunk tons of my money into this company and completely depleted my checking and savings accounts. The account goes into collections in the first week of October (which means my credit will be destroyed). I will be leaving the startup after I sort everything out. I need a way to make this $6k in about 12 days. My savings is shot. I have some consulting (WordPress, PHP, Rails) money coming in, but it's only $1k and might not even be on time. My co-founder owns a majority of the company but he's traveling

Published 24 Sept 2010
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