Latasha Transrina KebeUNWINEWITHTASHAK · Influencer

Kept My Business & $1 2M Debt Gone! Bankruptcy Win

Name: Kept My Business & $1 2M Debt Gone! Bankruptcy Win
Uploaded: 2025-09-25T11:45:13+00:00
Duration: 1 min 8 s
Channel: Latasha Transrina Kebe
Description: In this testimonial video, Julie A. describes her highly complex personal Chapter 7 bankruptcy case, which was complicated by her ownership of an…

25 Sept 2025 · 1 min

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1:08

In this testimonial video, Julie A. describes her highly complex personal Chapter 7 bankruptcy case, which was complicated by her ownership of an operating business. She faced roughly $1.2 million in debt, including a specific discharged amount of $1,153,243.15. Chad, an attorney from Van Horn Law Group, explains that most individual Chapter 7 filers who own a business risk having the trustee and creditors pierce the corporate veil, potentially revoking the discharge. However, because Julie’s business was structured as a separate operating entity and qualified for exemptions, she was able to retain ownership, continue operations, and discharge the debt without any repayment. Julie expresses deep gratitude toward the law firm for their professionalism, kindness, and the life‑changing outcome of becoming debt‑free while keeping her business.

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Her name is Julie A. She says her case, uh, my case was particularly complex because I was filing for personal bankruptcy while also owning a business. That's different. Despite the challenges, the entire team treated me with kindness, respect, and professionalism. Thank you to Van Horn Law Group for standing by me and helping me through one of the most difficult times in my life. I am forever grateful. And she is forever grateful because you cleared— I don't know how you did this— $1 million. $153,243.15. Yeah, and we had $1.2 million worth of debt.
And, and the problem when you have a business and you're going through an individual Chapter 7 is most people are 100% owners of that business, so the trustee and creditors get to look inside that business regardless of what bankruptcy chapter that you file. So they request all this paperwork, and if you don't provide it, they can revoke your discharge, meaning that $1.2 million sticks with you for life.
You know, it feel good being debt-free and still owning your business. Chad, how was she able to keep the business?
And second, you have exemptions that you can use on the business. And if the business has its own debt and is operating as a separate entity, you can continue to operate that. The problem is if that business only owns things, like if it owned real estate or owned assets that could be sold, then the trustee takes control of those assets and sells it. This was, this was a case where Julie actually had an operating business. And it wasn't one of those businesses that you could just easily sell. But, but Julie had a similar thing where she had her business, but she was the business. So she ended up keeping the business, discharging the debt, and didn't have to pay a penny back because everything was exempt.
Mm-hmm.