What Can Be Negotiated In A Workout?

In a word? Anything!

Any contract, lawsuit, tax, secured or unsecured debt can be successfully reduced by effective negotiation. That’s a pretty broad statement, I know, but after 30 years of negotiating debt-forgiveness I have probably seen most every aspect of debt negotiation imaginable. Part of it is certainly skill. Much of it is technique, knowing how to do it, what works and what doesn’t. Experience plays a part with what has worked in the past, and science, or the technical aspects of debt workout, can be critically important.

Let’s look a little closer, just to show you the potential of a workout:

• I have negotiated significant workouts and short payoffs, sometimes as deep as a 90-95% discount, many times with a zero payoff!

• Never have any of my clients been forced to file a bankruptcy.

• Leases can be broken early, without penalty, monthly payments/time commitments/common area charges reduced, etc.

• Law suits and judgments are not a problem and are frequently negotiated.

• Tax debt? Most definitely. Every conceivable tax can be discounted.

• Contracts, of course, no matter how onerous and one-sided they may be.

• Franchise Agreements–the most difficult contract of all to break–have been negotiated to resolution, ending the franchise years early.

• Partnership agreements, lawsuits (before they go to court or after), security agreement contracts, unsecured handshake deals and verbal promises worked out.

• Divorce agreements, pre- or post-court approval.

The point is simply this: Anything can be negotiated under the right circumstances with the right strategy and by the right person. Frequently, it is the skill of the representative in creating the right circumstances and environment, the right atmosphere, with the right parameters to support a successful workout negotiation. In the end, a competent, successful workout specialist can work out most anything. That’s a pretty broad statement, but after 30 years of negotiating debt forgiveness, I have probably seen most every aspect of debt negotiation imaginable. Never say never, call me instead.