Will you be using all of your cash to pay off this debt or will you still have an emergency fund after the $3,000 is paid?

your personal debt or income will not be factors in most cases for LLC which can help you out in some cases and thier may be tax advantages as well as liability reasons.You probably will have to sign personal guareentee, I don't fully know the legal ramifications of that while having LLC.

However, having no money at all and having no debt or assets,IMO, s*cks.

Thanks for the input dcg123, I really appreciate the helpI have talked with our lender and he says that he can get us 100% financing with 0 money down, pending any ridiculous debt or horrible credit, which we both have neither.

After 7.5 years I have the option of withdrawing my Roth tax free and applying it towards the debt, or not. 

With multiple people out spending money and otherwise obligating the LLC to debt or specific performance, you can have a huge mess very quickly.My .02.  

, especially a "shell filing", just complete enough to stop the sale, can be filled out by the debtor,mane filed for a couple hundred bucks here.  

The debtor ( as they call him in the process) has to list all debts he owes and all assets he owns.

I'm in the process of building my primary residence so I am unable to incur new debt or pull funds from cash reserves since I have not closed yet.

I don't know if it makes sense to incur more debt or work on being debt free and try to establish a better credit score.