Lawsuit for $3,500,000 settles for write down and bad credit
2006 – man who took out a loan for his business suddenly becomes responsible for a capital call and had personally guaranteed the loan. Prior to this call he had planned and by the time this scary asset eating situation came down he didn't have much available on his balance sheet so the bank wrote down the default. He did take a credit hit but kept most of his assets.
James Burns
James Burns, Esq. is a seasoned attorney specializing in estate planning, asset protection, and tax law. Known for his expertise in Private Placement Life Insurance (PPLI), James helps high-net-worth individuals protect their wealth and achieve tax efficiency, including pre-immigration planning. With over 20 years of legal experience, he offers tailored solutions for estate planning and corporate transactions. James is also a published author and sought-after speaker, recognized for his deep knowledge and strategic approach to wealth preservation.
