Holding Back the Tides
Going through a workout as a client is sometimes like trying to walk through a hurricane without falling down. Every phone call you get and most of your mail is another notice from a creditor, most of who are a low priority and cannot be dealt with immediately.
I have seen very few clients who can withstand the endless waves of emotional attack of these types of small angry creditors and remain unscathed without aid.
Second Wind provides a bulwark to lean against and a safe harbor where although you can see the waves lashing, you are free from the assault.
I currently have a client with a hotel which is severely under water financially. The loan is over $1 million and the hotel just cannot make the note payment. It also has fallen behind on the many leases on equipment such as, signs, air conditioners, freezers, and many other needed fixtures.
These creditors hounded the client to the point where the man was terrified that his whole hotel would be torn apart at any moment before anything could be done. After speaking to Second Wind and becoming a client, it has been months of battling the secured bank and trying to complete a short sale on the property and yet nothing has been done by these leases. These are creditors who previously had set dates with the local sheriff to come by and get their equipment.
Second Wind has calmed the storm and directed it in a manageable manner. Though these leases will not be settled for at least another 60 to 90 days the client is calm. We have controlled these lease holders with facts, numbers and the order of position. We have waylaid the legal proceedings and are able to continue to do so for much longer if needed, giving us time to close on the hotel short sale and save the client’s home and business.
This type of success is just as important as completing an asset sale or an offer in compromise as it protects our client’s state of mind. A workout is stressful, letting Second Wind handle the flow of the workout and who takes priority allows the client to focus on his business and emerge from the process stronger than when he began the workout.
