Facts: Our client and our client’s fellow business owner were sued by their bank for a $60,000 personal guaranty. We did not represent the other defendant. After approximately six months of litigation, the bank agreed to settle with our client for $3,000. The bank did not provide a reason why it accepted the reduction; however, the bank maintained the right to pursue its remedies against the other business owner.
Result: Settled for client’s payment of $3,000
Amount Client Received: n/a