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Bankruptcy Spares Akron Woman from $116,000 in Business Loan Debt

Recently, an Akron woman came to Luftman, Heck & Associates when her small business ran into serious financial problems. The business thrived for some time, but like many proprietors she fell into a pitfall when profits declined by using her personal credit cards to cover costs and made several personal guarantees for the loans she took out to keep her business afloat. This essentially made her responsible for approximately $116,000, and she knew she would need help to alleviate this massive debt.

She retained the services of Luftman, Heck & Associates, who began working on her behalf to improve her circumstances. After reviewing her fiscal viability, we assisted with winding down and eventually closing the business. We also helped her file for Chapter 7 Bankruptcy, which erased the outstanding $116,000. Once the process was completed, the woman was pleased to find a new position in the same industry as her business and could move on without this overwhelming credit card and business loan debt.

Prior results do not guarantee a similar outcome in your case. Individual results may vary based on the facts, injuries, jurisdiction, venue, witnesses, parties, and other factors. The results and client testimonials provided are not necessarily representative of the results obtained by all clients or their satisfaction with the firm’s services.