Another Word for a Debt Workout - a Controlled Train Wreck!

One must be realistic when entering into a workout negotiation. It is not like any other negotiation you have ever done. First, please keep in mind your position is defenseless. You borrowed the money and now cannot pay it back. You are in breach with no place to go.

The bank has its remedies, and its procedures; we have our strategies. However, if we look closely at what is going to happen, if we are involved early enough, it is possible for us to control the train wreck and keep us and you out of difficult situations. An orderly presentation of financial information, followed by an Offer in Compromise to settle the personal guaranties; sounds very civilized and in most instances it is.

However in an occasional situation, the plan runs amok and the collateral damage mounts up. It follows the same path, but the landlord may shut you out, probably only for a day or a few hours but it could happen. Banks accounts get swept; it can happen even to payroll accounts, despite the fact that they are not supposed to touch payroll accounts. Law suits filed, it happens. Foreclosure auction, seldom if ever occurring but it is possible. Bank finds a purchaser of the assets for a higher price, it has happened. The bank uncovers assets the borrower did on disclose, it has happened. The list goes on.

In short, a workout is a train wreck, which we force to occur. A controlled wreck, so the unexpected can occur. Then we clean it all up... Usually they gore smoothly and cleanly with few problems, but given the issues at hand there is ample opportunity for things to happen. We understand these events and most always have a way to control the damage and contain the issues, reducing them to mere road bumps. But they can happen.

The point is, anyone entering in to a workout, needs to understand we are playing hard ball. Getting the banks to agree to accept pennies on the dollar is difficult at best. It is a bit of magic, certainly requiring a lot of skill and experience and most always successful, despite the way it looks and sounds.

So yes, we are saying jump off the cliff, and trust us we will catch you..... But what other choice do you have? And yes we always catch our clients before they hit ground.

Workouts are foreign, uncomfortable, dangerous, painful, challenging, difficult, and experiencing affordable losses is the goal.

It's upside down thinking and nothing you have ever done or prepared for, nor can you. It is all about trusting your workout specialist just like any good emergency ward surgeon. We stop the flow of blood and prevent death; when the patient wakes up he is better, ready to start up again.

Trust us, jump, we will catch you, we always do.