What difference does the numbers have? Are you gonna give him a loan to float him through? <insert gay smiley so Ice knows I am kidding>

I say F the wires, don't say shit and spend a little spare time looking at the indies and RIAs in your area. If you can and will humble yourself and show possible value to their business I would bet they will pick you up if and when the wires can you. Oh yeah, don't you dare file BK! Work with a credit counselor or whatever you must do to pay off YOUR debts. Be a part of the solution and not the problem.

[quote=N.D.]

What difference does the numbers have? Are you gonna give him a loan to float him through? <insert gay smiley so Ice knows I am kidding>

I say F the wires, don't say shit and spend a little spare time looking at the indies and RIAs in your area. If you can and will humble yourself and show possible value to their business I would bet they will pick you up if and when the wires can you. Oh yeah, don't you dare file BK! Work with a credit counselor or whatever you must do to pay off YOUR debts. Be a part of the solution and not the problem.

[/quote]

Agreed on not filing BK.  That would be a death sentence to you, literally, if not for anything else than that your clients (whom you're asking to trust their entire life savings), now know their financial advisor has filed bankruptcy himself.  

I guess my question is:  If you are top quintile for a wire and STILL do not have enough to live on, what the Hell kind of projections of income did you run?  AND, how much were you making and what on earth made you think you could make that?  AND, how about the reality that maybe you need to cut out about half of your lifestyle!  I agree, you file BK, they will use that at some point as an excuse to take your assets and U4 your ass.  

VERY IMPORTANT: You are required to disclose to your employer any settlements you make with creditors, as well as bankruptcy, and any lawsuits or judgements. None of these things in and of themselves disqualify you from employment. Past that, any advice you receive here is better suited for a lawyer to give you. That said, if good credit was a requirement for continued employment, many advisors would be out of a job.

Needless to say, what counts is production. If you are hitting the cover off the ball not only does your problem become self solving, you make yourself "fireproof." Just follow the rules and swing the bat as hard as you can. What will happen will happen. Worry only about what you can control.

Worst case, some short sighted manager will bounce you for the financial mess. Unlikely, in my experience, but it could happen. You will then find yourself on the street. If you've been whacking the ball out of the park you are on the street with very buyable and likable numbers. Not the worst position to be in.

Concentrate on production!

Thanks for all the input... really.

The plan was that my former business would/could spit out enough business (in spite of itself) to bridge the income gap.  But, the small business credit industry is so thoroughly crushed that, even now, some BIG names are still dropping.  And... there is some real irony that I would land in a profession where personal credit is so important.  Every day I go to the office wondering if somehow my crappy situation is going to ruin a good thing.

My take-aways from your help were best stated by BondGuy... "concentrate on production" and hit "the cover off the ball" and "Just follow the rules and swing the bat as hard as you can."   Those comments give me hope that maybe I can dig out of this mess.

Ok... enough self-pity... time to get back to work. 

[quote=BondGuy]

VERY IMPORTANT: You are required to disclose to your employer any settlements you make with creditors, as well as bankruptcy, and any lawsuits or judgements. None of these things in and of themselves disqualify you from employment. Past that, any advice you receive here is better suited for a lawyer to give you. That said, if good credit was a requirement for continued employment, many advisors would be out of a job.

Needless to say, what counts is production. If you are hitting the cover off the ball not only does your problem become self solving, you make yourself "fireproof." Just follow the rules and swing the bat as hard as you can. What will happen will happen. Worry only about what you can control.

Worst case, some short sighted manager will bounce you for the financial mess. Unlikely, in my experience, but it could happen. You will then find yourself on the street. If you've been whacking the ball out of the park you are on the street with very buyable and likable numbers. Not the worst position to be in.

Concentrate on production!

[/quote]  I couldn't agree more... I know a guy that has a $30K tax lien against him (just checked it on FINRA) and  he's still employed two years later... I guess it depends on several things: the price of rice, the time of day, who loves you, and what have you done for them lately? Next time don't personally guarantee the loans/lines of credit (assuming there is a next time) and WHATEVER YOU DO, think long and hard before you file for bankruptcy. CONSULT AN ATTORNEY!