Medical practice closure

Outcome: Chapter 7 discharge - no asset case

Description: Represented a doctor with a specialty practice whose revenues and profits had declined significantly due to economic conditions for several years prior to the bankruptcy filing. The client had secured debts of more than $750,000 and unsecured debts of approximately $80,000. I guided the client through the closure of his medical practice, the surrender of business property to lenders, and preparation for a bankruptcy filing. Ultimately, the client received a Chapter 7 discharge, and retained both vehicles, as well as $350,000 in retirement accounts.