Business Debt Reduction Excels Over Business Loan and Chapter 11 Bankruptcy Benzinga

08.07.11

Business debt reduction helps business owner avoid a business loan and Chapter 11 bankruptcy. The corporate turnaround achieved by Debt Free League saved his company from a creditor lawsuit.

San Diego, CA (PRWEB) July 08, 2011

Neither a business loan or Chapter 11 bankruptcy could help. Instead, a business debt reduction reached by Debt Free League saved Cesar Gomez from a six-figure collection lawsuit.    

For Gomez, doing business in San Diego County hadn't been pretty. Post the financial crisis, businesses in the southern California region bordering Mexico have suffered from a ten percent unemployment rate,low consumer spending, and some of the nation's highest food and fuel prices. Gomez' import and export company also inched to survive another casualty of the economic downturn – the Mexican economy.

His company lost business profits since the housing crisis when Mexican exports to the U.S. declined from $234.6 billion in 2008 to $184.9 billion in 2009. Gomez, who is generally paid in Mexican pesos, also felt the resulting drop in the Mexican peso exchange rate against the U.S. dollar.

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