Successful Chapter 7 Bankruptcy Filing by Song Law Firm
Song Law Firm’s bankruptcy team successfully helped a client file for Chapter 7 bankruptcy, providing debt relief and a fresh financial start. Chapter 7 is often considered when high debt and a low ability to repay creditors exist. Our client, a small business owner, faced severe financial challenges after the COVID-19 pandemic, with the business generating insufficient income.
After the Chapter 7 filing, the court assigned a trustee who initially considered the client’s business as a potential asset with equity to repay debts. Based on our careful analysis, we disputed the valuation, demonstrating that the business had no real value. Following the trustee’s examination of the client’s business records, it was confirmed that the business held no recoverable value.
As a result, the court discharged the client’s debts, allowing them to become completely debt-free and regain financial stability. This case highlights Song Law Firm’s expertise in Chapter 7 bankruptcy, small business debt relief, and strategic advocacy for clients facing financial hardship.
