In Bankruptcy, Bankruptcy In The News, Blog, Chapter 7 Bankruptcy

The couple’s attorney, Denis Bartell, states that James purchased a large amount of stock in the Evergreen State Bank a few years ago by “borrowing heavily” from Johnson Bank and Middleton Community Bank. While it was seen as a wise financial decision back then, “the stock is worth far less than what he owes on it. The lenders want to be paid.”

Although he doesn’t know how much the stock was worth at the time of purchase, Bartell did say that Farrell held more than 2,000 shares of it. Because of his investments, Farrell now owes in excess of $2 million to creditors.

Anytime you are planning to file for Chapter 7, it is in your best interests to consult with a San Antonio bankruptcy lawyerContact our law office now!