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Business loan amount due turning into a judgment settled

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  • Business loan amount due turning into a judgment settled

    Client came to us and explained that her husband had a small business loan with several other partners. Client's husband took this unsecured loan 12 years ago. The business was closed and the original amount owed was $60,000. After all these years the Client owed $125,000 (adding financial charges). The Client's spouse and the business were sued resulting in a judgment against them. Subsequently, the lender placed a lien on our Client's paid off property currently worth around $300,000 belonging to the Client (in California community property). Client always though that after 10 years, the debt will automatically be cleared and the lien removed but because the judgment was renewed, the lien stayed. In fact, when a judgment is obtained, there is an additional 10% per annum usually added to the judgment. Note that it would have been almost impossible to win on a bankruptcy on this case.

    But fortunately after a long negotiation, our law firm were able to settle $55,000 representing a saving of $70,000.

    This is something which is frequently happening to many people out there. The rule is simple, do not ignore your debts otherwise you might be faced with some major complications. If you want us to assess your debt settlement case for FREE, call us at 510 7425887. Note we handle only California debt settlement cases.

    Important: The above does not represent a guaranty of winning similar cases or situation. Case differ and success in one case does not mean we will be successful in your case.
    Shah Peerally is an attorney licensed in California practicing immigration law and debt settlement. He has featured as an expert legal ****yst for many TV networks such as NDTV, Times Now and Sitarree TV. Articles about Shah Peerally and his work have appeared on newspapers such as San Jose Mercury News, Oakland Tribune, US Fiji Times, Mauritius Le Quotidien, Movers & Shakers and other prominent international newspapers. His work has been commended by Congress women Nancy Pelosi and Barbara Lee. He has a weekly radio show on KLOK 1170AM and frequently participates in legal clinics in churches, temples and mosques.

    For updates follow us onYoutube, Radio, Facebook, Twitter and LinkedIn. Shah Peerally Law Group PC deals in immigration law - and
    Attorney Shah Peerally also deals in debt settlement. For more information call us on 510.742.5887 and visit us on
    Information provided above is for educational purposes only. One should not act or refrain to act solely based on the information provided. You should consult an attorney to assess your case before proceeding.

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