what to do?

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Do you still have both skidders in your signature?  If so its never fun, but you could figure out which one will serve you best on the jobs you have lined up and sell the other one to get you going again with hopes to replace it in the future.

If you have jobs paid for you could take to the mill you sell to and they would probably give you a advance to help you out. If its not paid for take the log buyer from the mill out there and let them pay for it then give you a advance on cutting it and getting it to the mill. Other then cutting fire wood Iam out of any ideas right now,give me a few minuites ;D.

This has been a long winter for all who work outdoors. I am sitting here right now wondering about my next paycheck and how i will get logs off my landing as mud season is here. its' cold at current but that won't last long. i have been in similar predicaments as yours financially and it is no fun. a few years back i had to buy my farm back because of a divorce, I sold some really nice tractors and equipment and got back to just what i needed and so far i am paying the bills. It took me 20 yrs of hard work to be free of mortgage and equipment debt only to go through the divorce and get this farm back by going into crazy debt once more. I work 7 days a week ,have a 15 year old daughter with me and this is not easy. i am on the run constantly between her needs and work. what i am getting at here my friend is there are many of us going through this all the time and know where you are coming from. it is certainly nothing to be ashamed about, prioritize your needs and talk to your debtors if you have them. most people are understanding if the truth is told and will work with you. You can do this, people like us can endure, this I know. I am putting on my zuit suit and heading out to wrangle this 800lb tire back on the tractor at 10 degrees, we can endure.I wish you the best    David l.

its tough in this business sometimes just put your ducks in a row and work 7 days a week and work with your creditors and you will make it thers no self employed logger that hasn't seen hard times trust me we have all been there keep your chin up and don't give up

congrats to David...I been thru that.fox, if your not paying on your stuff then you just need expense money? I been there. the advance thing is good if you got a good buyer you deal with.got any thing to scrap?

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the last time I was in a jam I sold everything I could came up with 6 grand bought an old c4 gas job treefarmer with no tire chains and used oil like ther was no tomorrow paid cash for it and let all the stuff that was financed go back went bankrupt and now im doing fine again that was 7 years ago worked with the little treefarmer till I got my credit good enough to get a better skidder and went from there but I was determined to make it on my own and not go back to working for another jobber

Hang in there.  This rough patch will smooth out.  In your shoes I'd talk to mill I was selling to.  They'll usually help if you're a good producer for them.  Otherwise I'd sell the skidder that I wouldn't miss as much.

Several of the guys here have given you really good ideas about advances, so I really can't add to that.  But I have been there myself, when you are on top it is always a  hard fall to the bottom.  My theme song was "If you're going through H*LL" by Rodney Atkins a few years ago, it fit really well.  It can seem overwhelming when you are in your spot, a bit of training I received a long time ago for a different line of work was that my entire job description consisted of two steps 1) survive the present second 2) repeat.  That's all.Keep your goal clear, when you hit a wall back up and keep swinging, you may find out that this becomes an opportunity as you will find new ways to get it done, may even find a niche and hit a home run as a result.Like the others said, we have all been there.

Don't give up,try your local banks.Don't worry of being told no.I took a signed contract to a bank and asked for a line ofcredit.gottold no,so i went to the local chamber of commerce and talked with them and they set up a meeting with a mentor trained to help with small business.Talked to some more banks,credit unions and found help at the community developmentcorporation.Inthe end went back to original bank and got a 10k line of credit.Don,t sell yourself short,there's help out there.Don't be afraid of no.

Being in business for yourself is rough, especially this one.  One of the biggest things I have learned was dont be afraid to ask for help.  I was stubborn and wanted to do it all on my own.  It wasnt happening, and I HAD to ask.  The worst they can say is no.  When my mother was alive she would always tell me everything happens for a reason.  Sometimes I think "what the heck is the reason for this?" may not always be clear but working hard, keeping your head clear as well as your goals and you will persevere.  It's a tough business but its rewarding in the end.  I wish you luck and know you are not alone.

I used to be a Commercial loan Officer before my hobby became my business so maybe I can help. First, are you sure your credit rating is junk? Time clears up credit ( generally 2 years) assuming you've been good since the girlfriend thing. Is the girlfriend issue your only time that you have had poor credit? You may be able to get a bank to take a chance on you if you can show good credit before and after your problem. Don't expect big bank to take a chance but a local bank might. Collateral is king when it comes to borrowing. A bank is way more likely to take a chance on you if they aren't at risk of losing money if you don't pay them back. Borrowing $5k against something that's worth $30K is a no brainer. Banks prefer real estate to equipment but if the stuff is good they will go for it. There are also asset based lenders that will ignore credit, although they will rape you on interest rate.  How about a co-signer or a guarantor? Maybe a friend or family member. I know it can be embarrassing to ask but I've seen that route help a lot of people out. Another option might be a loan where proceeds from the mill are assigned to the bank when payment is made upon selling the logs. This work well if there is some kind of contract between you and the mill.There is a million ways to solve your problem including some of the things mentioned above. You just might get rejected a few times before you find the right fit. Best wishes!Geoff

Hang in their and Hope things get better soon. These things can cause a lot of sleepless nights/stress so make sure you take some to clear the head(hike,road trip,hit the favorite fishing hole etc.)The FF has some of the biggest hearts and knowledge around! Best of luck to all who are struggling.

Thanks guys for all your kind words and encouragement. It means more then you know. I have an IRA that I forgot about so I tapped into that. Only took a small amount because of fees but it should help me get going. I'm typing on my phone and its painful so im gonna make it short. Just wanted you all to know how appreciative I am to be a part of this site, and have such good guys on my side.Thanks again and ill keep you all in the loop!

Lots of good advice. I have been there as well. Its never fun but part of what makes us want to be self employed and more importantly, to work in this industry, is that we are eternal optimists.To end on a bit of humor let me blow the dust off an old woods joke:Did you hear the one about the old logger that won Powerball and was being interviewed by WMUR? When asked what his future plans were as the sole jackpot winner he scratched his head and replied, "I reckon I'll keep logging until the money runs out..."Too true sometimes.

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