Recession lead to Debt of $113,000.00

Client had a failing business that could not survive due to the recent recession. Under the assumption that his business would eventually succeed, the debtor took out loans in order to sustain his business. This client also owned a One (1) family home that he has been mortgaging for the past 2 years. The client eventually had to close the business because his credit was exhausted and the flow of business was not enough to keep the store in operation. The debtor was left in massive debt without a business to support him and his family and a home he could barely afford. Therefore after his failing business, the debtor found work as a cab driver. He financially made enough to afford the mortgage on his home, food for his family and basic utility bills. The debtor was still drowning in debt from the loans he took out in order to save his business. After realizing that he is unable to continue living this way he consulted our office for a free consultation and then he proceeded to file bankruptcy. Our firm filed a chapter 7 bankruptcy for the debtor. We showed bankruptcy court his debt was from a failing business that could not keep up with due to the recession and financial troubles. Due to our firm impeccable nature in handling bankruptcy matters, the debtor was relieved of all his credit card and business loans. Bankruptcy court also allowed the debtor to keep the house after proving his income with his new job was enough to pay for the mortgage. Currently, the debtor is debt free, has a new job and was allowed to keep his current house to raise his family in with no fear of any liens being placed on his property.