Debt Restructuring And Alternatives To Bankruptcy
If your business is underwater, you have options other than filing Chapter 11 or folding up shop. The Houston Firm can help you negotiate workouts and other solutions to your debt burden and cash flow problems.
I am attorney Bart Houston. For over 30 years, I have been advising small and midsized companies in Broward County and South Florida, including helping clients overcome financial setbacks. Give me a call today to discuss your situation.
Loan Workouts And Debt Solutions
Bankruptcy is powerful protection, but it’s a double-edged sword. For example, Chapter 11 bankruptcy precludes you from choosing which creditors to pay back, which can have a domino effect on important business relationships. If bankruptcy is off the table for whatever reason, we can explore other options:
- Loan modification: Commercial lenders won’t volunteer to restructure your loan, but they also don’t want to eat the costs of a full-fledged default. I can help you convince the lender that your business is a viable concern and negotiate favorable loan workout terms that enable your business to stay afloat.
- Forbearance: The lender grants additional time to catch up on arrears while still preserving its security interest. A forbearance agreement may require other sacrifices or obligations in exchange, so it is critical to have legal counsel.
- Debt restructuring: We can explore debt mediation with commercial creditors, debt-for-equity swaps and other solutions in lieu of bankruptcy.
- Liquidation: It may be necessary to sell off business assets to satisfy creditors or renegotiate business loans. I provide the analysis and strategy to make sensible moves.
We Will Work Together To Find A Way
Show me a distressed business and I will show you a distressed business owner. I understand that business is PERSONAL, especially when your company is struggling. It’s your livelihood and you have invested not only money but a lot of sweat equity.
When times are tough, we are there for you. The one thing I hear most often from clients after working with The Houston Firm is that they feel a burden has been lifted off their shoulders.
The Houston Firm is a debt relief agency. We help people file for relief under the U.S. Bankruptcy Code.