An artist in Ohio has recently filed for Chapter 7 bankruptcy and will not be able to pay back a $100,000 loan that was given to him in order to improve a building on Sixth Street.
The artist bought the building in 2005 in order to save the block and took a loan out to do so. All of the money loaned plus $130,000 of his own money was put into the project.
The man was trying to make the building area to look like New York City lofts, but he did have the money to finish the project or pay back the loan. He has said that his biggest mistake was when he ignored his taxes or did not set aside money for future taxes.
If you or a loved one has been considering filing for bankruptcy in order to rebuild your financial future, contact the Florida personal bankruptcy lawyer, Ryan J. Really by calling (239) 237-0675 today.