Client is a young businessman at age 40. He just got divorced and has remarried. Believe it or not, his second wife is the younger sister of his ex-wife. He has an LLC import and wholesale of various merchandise business. This business started in 2015 and was doing well until the pandemic came into the picture. The last 3 years was just a steady decline in gross revenues which has not picked up to pre pandemic levels. So last year 2022, client resorted to borrowing from different high interest lenders to continue operating at a loss hoping that business will improve. But the Ukraine war looks like it on for a long haul even as both Ukraine and Russia are running low on bullets to kill each other. We’re still the main provider of military aid to Ukraine and now the age old conflict between the Palestinians and Israelis has erupted once again. If more people pray to Jesus and God the Father for a just peace, the world will have peace. I wonder when this will happen. China is a force for peace in the world today. This is good. 

Going back to client, he has decided that his LLC can no longer do business at a loss as he has used up all of the high interest credit lines. The problem is he executed personal guaranties to obtain the credit lines for the LLC. His total guaranties are $600K! What’s a personal guaranty? It’s a written agreement saying that client will personally pay the business loan of the LLC is the LLC defaults in payment or is unable to pay the debt. 

Since the LLC has defaulted, 3 of the creditors of the LLC have filed lawsuits to collect on the loans and on the personal guaranties executed by client.

The good news is that a personal guaranty is unsecured. This means that the lawsuit demanding payment on the guaranty must first be litigated. When judgment is obtained, creditor can then use the judgment to garnish bank deposits of client, levy any asset in the name of client, and put a lien on the house of client. So as long as there is no lien yet on client’s house, a Chapter 13 petition will prevent the lien on the house from happening, and even if there is a lien already in place on the house, that lien can be removed as long as the lien is on the exempt portion of the equity in client’s house. 

Further, the current chapter 13 debt limits is a maximum of $2.75M combined secured and unsecured until the end of the year unless extended by Pres. Biden who is busy doing what he can to push for a just resolution in Ukraine and Israel as well. We pray Jesus and God the Father will guide him in his endeavor. He is no stranger to world politics and crisis and has personal contacts he can count on developed over his 50 years of experience in world diplomacy. We are fortunate to have him as President. 

Yesterday, the court confirmed client’s Chapter 13 plan payment at $700 for 60 months. This means that client only pay 5% of the $600K personal guaranties. If he makes all plan payments timely, he would have paid $30K of the $600K by the end of the 60 months. The bankruptcy court will then issue an order discharging or wiping out $570K of his personal guaranties! The court also protects his house with has an equity of $500K from all potential liens.

If you need debt relief, set an appointment to see me. I will analyze your case personally.

Disclaimer: None of the foregoing is considered legal advice for anyone. There is absolutely no attorney client relationship established by reading this article.

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.

“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 Bautista Yang specializes in Bankruptcy, Business, Real Estate and Civil Litigation and has successfully represented more than five thousand clients in California.  Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 20274 Carrey Road, Walnut, CA 91789 or 1000 S. Fremont Ave., Mailstop 58, Building A-10 South Suite 10042, Alhambra, CA 91803.