We Are Winning. The Battle Toughens But The Banks And SBA Are Giving Us The Workout Results We Need: Debt Forgiveness.
When we get into the clinch and fight it out, in the end, workouts are being accepted and our program is wildly successful. We’ve had a recent flow of very successful workout conclusions with the banks and with SBA guaranteed loans; they will not admit it publicly, nor will they give up their unreasonable demands for repayment and intimidating attacks on borrowers in default. This is not new. We have been successfully resolving issues by workout and debt forgiveness—hundreds of loans for many years—however, as we get more creative and more demanding, the banks are being more responsive and more willing to concede victory on our terms.
On the surface and at first pass, the barriers appear insurmountable. However, we have long-ago learned that “No” means “Yes, just not today.” And since we are committed to a workout that will actually work, we hold our ground and get what our clients need to survive and reemerge successfully without a huge loss of assets and with resolution of debt and personal guaranties for affordable amounts of payout. “Affordable loss” is what we call it.
There is, however, an apparent trend that we are observing in our workouts and it is simply this: creative workouts that may have been rejected before are now being accepted, but the battle gets tougher. The banks and the SBA are fighting hard, putting up much resistance and applying a full spectrum of self-serving strategies that include: seizing assets, garnishing wages, lawsuits, foreclosures on homes, etc. It appears that if we survive the flurry of threats and assaults, we get to a resolution, on our terms—a resolution that works. The good news is, we do better every day. The bad news? The banks are getting more aggressive every day.
In conclusion, workouts are absolutely the only way to resolve defaulted debt issues and the sooner you get it done, the sooner you can begin your recovery.
Call us before your banker takes aim at you. They are using deadly force and high-caliber ammunition and are to be respected. We have the solution… an effective workout plan. But, you must call us. Do it, we can help. Call 413-584-2581 and Norm will arrange a no-obligation teleconference for us to discuss your options.
