Category Archives: Vendor Debt

When Is Bankruptcy Better Than A Workout?

Posted on November 5, 2010 by Donald Todrin

If the underlying business–the core business–cannot sustain itself profitably after debt is stripped away utilizing our strategies, and if you have no equity in real estate that you want to keep, you may be better off filing a bankruptcy and wiping … Read More

Posted in Debt Workout, Offer in Compromise, SBA Loans, Secured Bank Loans, Unsecured Debt, Vendor Debt | Tagged: | Leave a comment

We Are Not Afraid To Say NO!

Posted on November 4, 2010 by Donald Todrin

Saying “NO” is very much a part of negotiating a workout with the bank. Obviously, the bank wants to collect as much as they can. Collecting all that is owed to them is actually their objective. Clearly, we have a … Read More

Posted in Debt Workout, Navigating the Downturn, Offer in Compromise, SBA Loans, Secured Bank Loans, Unsecured Debt, Vendor Debt | Tagged: | Leave a comment

Preserving Relationships When Defaulting.

Posted on October 25, 2010 by Donald Todrin

Business owners hate to break their word. I hear this all the time. They hate to disappoint their long-term business associates, long-term vendors who are part of the “family”, and their creditors, many of whom are considered friends. I understand, I get … Read More

Posted in Business, Debt Workout, Family and Business, Management, Offer in Compromise, SBA Loans, Secured Bank Loans, Unsecured Debt, Vendor Debt | Tagged: | Leave a comment

We Seldom Hear The Word “NO” In A Workout.

Posted on October 16, 2010 by Donald Todrin

In a word, it doesn’t happen, ever. Never to us, at least. Why? A couple of reasons: 1. Like anything, if you do it enough you get good at it. We have been doing this for over thirty years and … Read More

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Do Not Borrow Now, Especially To Pay Off Debt!

Posted on October 4, 2010 by Donald Todrin

Small businesses are now weighing in on the subject of available credit. They are uninterested. President Obama’s recent 30 billion dollar funding bill to provide “necessary” capital for small business expansion by opening up credit through small local banks to facilitate … Read More

Posted in Business, Debt Workout, Management, SBA Loans, Secured Bank Loans, Unsecured Debt, Vendor Debt | Tagged: | Leave a comment
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