Justin Stoneman, a seasoned player in the trucking industry with 27 years of experience, has witnessed a significant downturn in his business based in the agricultural heart of central Michigan. Once generating over $3 million annually with his fleet of around 12 tractor trailers, Stoneman’s fortunes have changed dramatically. Over the past year, his company, Stoneman Trucking LLC, has faced numerous pressures, including soaring diesel prices attributed to geopolitical tensions, escalating insurance fees, and substantial debt burdens. Despite initially filing for bankruptcy protection, Stoneman has decided to transition to Chapter 7, effectively shuttering his operations.
“I’m so frustrated,” he lamented, questioning the…