[ADiamond]

Anthony,

I definitely appreciate your sentiments about WBL in this thread. I found a few comments particularly interesting:


1. "They shut his business down, levied his bank account, and told him if we even get a word that you are running your business we will put you and your wife in jail."

2. "I recommended that maybe he go through bankruptcy chapter 11, he doesn't even have the money now to pay for a lawyer."

3. "...or get a HELOC against them with a low monthly payment?"



Normally at this juncture I'd extrapolate on how your comments are incorrect, misinformed and might even explain why. I might further add that perhaps your credentials as an underwriter ought to be questioned.

Luckily in this situation I find that completely unnecessary, as you have already sufficiently embarrassed yourself enough to not warrant further degradation.

Your pal,

Zach

Zach I'd normally not respond to your sad attempt of making me look bad while trying to defend your company but luckily in this situation I find it completely necessary to tell you that the 3 comments you quoted as incorrect and misinformed are exactly what occurred whether true or not. Finally, before you question my credentials as an UW please be mindful that those credentials have nothing to do with the field or topic that is being discussed here so if you want to see how good my credentials actually are - open your legs and let me underwrite that v*gina because based solely off of the initial interview I'd feel safe on betting that it is quite sour.

RickyR and anyone else that wants to waste time, make a show and input worthless commentary - please be aware that I have no idea how to help this guy but I am trying to explore every option. This is not my area of expertise, simply helping a merchant stay in business and trying to get paid while doing so.

Bankruptcy is obviously a last resort - I am no BK attorney so would a BK wrap up the properties? I don't know. According to Ricky they will. So maybe a certain chapter (13 or 11) would just restructure the debt and allow him to keep his properties? Again - I have no idea.

The point is - getting the liens under control would allow him to operate his business and then pay his debt in a way he could manage it. The liens could be negotiated by a professional OR I was simply going to see if a BK would cover them at which point he would be allowed to operate his business again. There is a lot to this file that has not been mentioned - don't know if the liens are on the biz or personal - the biz is in his wife's name... what exact authority does the MS Dept. of Rev. have over him that he can't operate? Did they simply levy his bank account or did they freeze his HVAC license?

If all else fails he wanted to leverage his equity in the properties - and yes he would be OK with using them as collateral to pay the liens. Can it be done? I don't know I don't do these types of deals. Luckily we have Daily Funder to ask these types of questions to our peers who may have experience with such things but are most of the time more critical than they are helpful. Can he take an HELOC? guess what Zach? I really have no f*ckin idea to be honest with you and I have no interest in being correct about it.

Simply here asking if anyone can do anything with it - if you can, then make some money for yourself - if not, then keep it moving. It REALLY is as simple as that.