Assisting Atlanta Businesses with Commercial Loan & Commercial Real Estate Loan Workout Agreements
There is an inherent risk involved when you accept a commercial loan or commercial real estate loan to help your business. These loans are often for significant sums of money with strict repayment terms. We all know that businesses and investments can have its ups and downs, and if your company or investment is experiencing financial distress, you might default on your loan payments or other loan terms.
Lenders take loan default very seriously, and they have many rights when a business or investor defaults, including accelerating the loan and taking enforcement action against the collateral you provided to obtain the loan, including personal guaranties. There are other options for business owners and investors than losing your company or property; you might be able to reach a workout agreement with your lender. Do not wait to contact Battleson Law to discuss your options with a loan default workout lawyer in Atlanta.
Be Proactive with Workout Negotiations
It can be tempting to ignore the issue or assume that you have no other option but to lose your business. However, swift action is often an important factor in obtaining a workout agreement. You should contact a skilled loan negotiations attorney as soon as you suspect you are having financial problems that prevent loan repayment.
Your attorney can approach your lender with the proper financial documentation to demonstrate your company’s or the property’s tenants’ position. Whether a workout agreement is offered is at the discretion of the lender, though most banks and non-bank lenders would rather have some repayment plan in place than go after collateral or personal guaranties. Your attorney can negotiate a workout agreement with favorable terms to your business or investors that allow you to continue making payments and continue operating your business.
Contact a Loan Default Workout Lawyer in Atlanta Right Away
At Battleson Law, we understand the legal documents involved in workout negotiations and agreements, as well as the possible implications and other impacts of these agreements. Call 404.382.8149 or contact us online to speak with an Atlanta loan default workout attorney today.
