Client is a single mom
and a professional with good six figures income. In 2018 a friend approached
her with a business for sale. Client had never been in business before but was
interested in the prospect of making more money. According to the sellers of
the business, it makes a net profit of $10K a month. Business is an established
local retail that provides a service. Enticed by making another $10K a month,
client bought the business. She obtained a working capital line of $100K and
put in another $25K of improvements. In addition, she took over the commercial
lease of $6K a month with 4 more years to run. Her friend acted as the
industrial partner to run the business since client was employed full time in
her profession. She was off to a rocky start.
The net profit of $10K a
month was nowhere to be seen. At best, the business was breaking even. Then, in
2020, the pandemic came and wiped out small retail businesses. Client’s
business was not spared. It was in the hole $5K a month which had to come out
of client’s pocket. Even with her six figures income from her profession, doling
out $5K a month to keep the business afloat was daunting and stressful for her.
In addition, the business line of credit required a monthly payment of $2K.
That’s $7K of out of pocket expenses that client did not have before when she
had no business. Well, you know how it is. This is how life is. You make a
mistake, thinking you will create $10K more of net income for yourself with the
business, but instead, it is sucking $7K out of your wallet. Since she kept the
business alive by shouldering the loss for 3 years, she has lost $250K of her
hard earned money from this simple mistake. Well of course, she now takes a
long hard look and decides that she enough is enough, and that even if the
business is now improving a bit as co-vid becomes under control with the
vaccines, she doesn’t want to have the business in her life anymore. Time for a
divorce.
Of course, she would
like to get Chapter 7 relief to just wipe out the $100K business credit line
and $150K more of commercial lease for the next two years, but due to her above
median income, she would not be eligible for Chapter 7 relief even if the
equity in her house is way below the exemption amount of $600K.
Chapter 13 will allow
her to pay a portion of what she owes which will be much less than her $7K
monthly loss that she has been experiencing for 3 years.
How much she pays in her
Chapter 13 plan will depend on her monthly deductible expenses under the means
test. It can be as low as $150 a month. If she had a family of four, she would
have more allowable expenses to deduct so she would pay less, than if she had a
family of two because she would then have less allowable expenses to deduct.
Each case is different.
The actual payment plan depends on many factors.
PRAYING ALWAYS HELPS
It also helps to pray to
our God, His beloved Son, Jesus Christ, and the Blessed Mother Mary for divine
protection against financial problems, because we have a God who loves us and
His beloved Son, Jesus Christ, showers us with infinite mercy. All we have to
do is humble ourselves and pray to the Sacred Heart of Jesus for a drop from
his ocean of infinite mercy. Jesus revealed in 1930’s to Saint Maria Faustina
Kowalska of Poland that all sinners which we all are and those who do not
believe in God and those who do not yet know Jesus, should all be brought to
His sacred heart and be submerged in the ocean of His infinite mercy, for the
sake of His Sorrowful Passion. Anything you ask for when you pray the chaplet
for His divine mercy will be granted, if compatible with His will. Moreover,
you are guaranteed a peaceful death.
What is the current
proof that God and Jesus are divine and all powerful? I refer you to exhibit A,
the incorruptible body of Carlo Acutis!
CURRENT ONGOING PHYSICAL
PROOF GOD IS ALMIGHTY
INCORRUPTIBLE BODY OF
CARLO ACUTIS DIED 2007 AT AGE OF 15
Look at the
incorruptible body of the blessed Carlo Acutis who died at 15 in 2007. You can
look at his body in Rome, Italy, now 14 years after his death. He looks like
he’s just asleep in his jogging suit and rubber shoes! That is a perfect example of an ongoing sign
on earth that the God of Moses, our God, my God, is almighty and all-powerful
that He even suspends the natural laws of biology and physics without any
effort. He resurrected His one and only beloved son from death on the cross.
Indeed, He has power over death.
I have actually thought,
“What would the other religions believe if they actually saw the incorruptible
body of the blessed Carlo Acutis? I think even Buddha, if he were alive today,
would truly believe that Yahweh is the one True God.” No need to think about
reincarnation and nirvana because his incorruptible body is available for all
to see in Rome, Italy. We won’t need any kind of explanation on the efficacy of
modern day mummification. Come on, man, that’s all bull. The truth is in plain
sight. Believe your own eyes that the one true God is all-powerful and His name
is Yahweh, “I am who Am.” He is the alpha and the omega, the beginning and the
end.
DISCLAIMER: NONE OF THE FOREGOING IS CONSIDERED LEGAL
ADVICE FOR ANYONE. EACH CASE IS DIFFERENT.
THERE IS NO ABSOLUTELY NO ATTORNEY CLIENT RELATIONSHIP ESTABLISHED BY
READING THIS ARTICLE.
“ETERNAL FATHER, WE
OFFER YOU THE BODY, BLOOD, SOUL AND DIVINITY OF YOUR DEARLY BELOVED SON, JESUS
CHRIST, OUR LORD AND SAVIOR, IN ATONEMENT FOR OUR SINS AND THOSE OF THE WHOLE
WORLD, FOR THE SAKE OF HIS MOST SORROWFUL PASSION, PLEASE HAVE MERCY ON AMERICA
AND THE WHOLE WORLD.”
Lawrence B. Yang is a
graduate of Georgetown University with a Master’s Degree in Law and specializes
in Bankruptcy, Business, Real Estate and Civil Litigation. He speaks English, Mandarin and Fujian and
has successfully represented thousands of clients in California, including companies
overseas. Please call Angie, Barbara or
Jess at (626) 284-1142 for an appointment at 20274 Carrey Road, Walnut, CA
91789 or1000 S. Fremont Ave., Mailstop 58 Building A-10 South Suite 10042
Alhambra, CA 91803.