u/Tiny-Shovel-48

Hello, I am in need of serious help and any guidance is appreciated.

I love my mother but she has gotten herself into a situation that I (30f) feel like I’m not qualified to fix.

1. She owns a small manufacturing business.

2. IRS is threatening to seize assets.

3. She’s taking high interest loans out to cover payroll and expenses in between getting paid by clients.

4. All her personal credit cards are maxed and she’s being sued by one of them (I forget which one)

I have no idea what I’m doing. Any help is appreciated.

My mother, I love her, but for all the things that are holy, has gotten herself into a pickle.

She’s in her 70s and still believes after 6 years she’s going to get this one magical contract for one million dollars and it’s going to solve her problems.

The IRS is threatening to seize assets because of unpaid payroll taxes. She has no money. Clients are terrible and refusing to pay. She has to borrow money from Peter to pay Paul. It’s a mess.

I already know we need to close up shop but how? How do we absolve all these debts and just be done?

Edit: for anyone saying I’m not giving enough information, please ask follow up questions. Please be more specific. I can offer more information but I don’t know what.