Health issues have adversely affected the current economic environment. The lack of transactions and customers have created revenue shortfalls across the board. Without revenue, businesses are unable to service their debts. Businesspersons are accustomed to dealing with their banks and other lenders to borrow funds, but many times have little experience when their loans go into default. Dealing with lenders on a loan workout is problematic for borrowers who have no experience with a defaulted obligation.

FBFK attorneys have experience with restructuring debt and modifying mortgages to avoid foreclosure. If you’ve been contacted by a lender or a loan servicer, have a FBFK attorney review your loan documents and go over your alternatives. We can assist by communicating with your creditors and renegotiating the terms of your debt to reflect the current environment. Once an agreement is reached, we can also assist by drafting the revised loan documents.