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When Finances Look Impossible

Doug and Catherine faced business debt of seven million dollars and a tax bill greater than twice their salary! That’s when Doug received an unlikely plan that made him debt free in four months.
 

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Doug Benson thought transferring to Colorado to run a law practice would be an excellent move. But taking on a new practice proved to be anything but wise. Doug found himself millions of dollars in debt. Doug and Catherine Benson were living the good life— a mile high in Denver, Colorado. Doug owned a law firm called Benson and Associates that is now doing very well. But there was a time when Doug faced financial fallout. He opened a small law practice in California with a partner. Soon, his partner wanted to expand to three new states. Doug moved to Denver to run the Colorado office. "Going from one office to a multi-state practice in four different states, the debt grew exponentially very quickly ... to the tune of seven million dollars," remembers Doug. So when clients paid the attorneys, they were forced to use the profits to pay down the debt. But it’s still considered income. So Doug never received attorneys’ fees, but he owed taxes equivalent to twice his base salary. "Interest and penalties were accruing daily. We had this situation where we never saw a penny of the money, but the IRS wanted more than what we even had in our bank account," adds Doug's wife, Catherine. "At the end of the year, I owed so much more money than I made that we really didn’t have any hope. We had no way of possibly paying our tax debt," says Doug. The Benson’s prayed hard asking God for a way out. And they continued giving 10 percent of Doug’s salary away instead of using that money to pay down the tax bill. "Even when we were in the darkest of dark, when there was no hope from a business standpoint, I still had a peace in my heart, and Catherine did too. We knew that God would be faithful -- that we did our part, and God would be faithful," says Doug. Doug heard the same message when he caught The 700 Club online. "When you give, you give with a purpose and understanding that you are sowing into God’s kingdom," he says. Doug says God gave him a plan to present to his [former] partner: [God told him to] sever the relationship and ask his partner to allow Doug to keep the Colorado office and its current clients; And ask to take only one million of the seven million dollar debt. His partner agreed. The Bensons watched God prove His faithfulness as Doug won case after case. The profits came flooding in. In just over three months, Doug paid all of his back taxes and the one million dollar debt. He even had enough to give everyone in the office---a bonus! "There was no possible earthly way that could happen," says Doug. "We didn’t want to get rich overnight. We just expected God to provide for us, so we could be responsible and pay our debt -- and that’s what He did," says Catherine. "When there appears to be no way, He makes a way," believes Doug. "You just have to keep the faith, and be faithful in what He’s called you to do."

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