Over-extended business owner – How We Helped

Thursday, May 28, 2015 - 14:51

Bankruptcy, Asset Concerns

I met with a business owner at our Kitchener office who was struggling to keep his business afloat. His business was making less than expected and therefore had racked up $61,000 on his credit cards. He was struggling and couldn’t see a way out. He was concerned that if he filed bankruptcy, he would lose his home and his business. 

How we helped

He was very thankful to hear that he would still be able to keep his home and his business if he filed bankruptcy. He owed $61,000 in credit card debt but settled for $21,000. His payments were $350 per month for 60 months.  

Where is he now?

  • He was discharged from his debt in less time than expected as he was able to pay more than the minimum per month
  • He was able to keep his home and his business

We can help you become debt-free too - contact us for a free consultation.