Business Contracts Lease contract bridge

[Louga]

Hi,
A friend had signed a lease to run a liquor store in Ft Lauderdale, FL and somehow, besides having his LLC business under the contract, his personal property was added as collateral. Due to the economy, his business went down and could no longer afford to honor the lease. The store owner is now suing him for the rest of the contract for about $230,000 and put a lean on his house which is roughly worth $150,000. However, the owner was able to rent that store 3 months later.

My friend has no source of income. Is behind on mortgage payments. Has trouble paying for utilities. Has no medical insurance and the family is getting ill due to stress and malnutrition.

I believe, since the owner has rented out that same property with no further loss of revenue- is my friend still liable?

Can he file for bankruptcy to solve his issues but keep the house?

What can he do? he barely has money to pay for utilities and food- more less a lawyer. And, I cannot not help him as I was laid off 2.5 years ago and unable to find a job.

Thank you,
Louis

 

[army judge]

Your friend would be wise to speak with a BK attorney.
The lien on his home won't really hurt him, as Florida law, like Texas; won't allow his home to be sold to satisfy most private liens.
The lien is often nothing more than an annoyance.