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Law Suit for $5,500,000 settled for $2,500,000 over time in installment

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

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