Our Arizona Loan Workout Attorneys Represent Creditors

Phoenix lawyers negotiate to avoid debt discharges in bankruptcy

Atkinson, Hamill & Barrowclough, P.C. negotiates loan workouts on behalf of creditors, often when debtors are on the brink of Chapter 11 bankruptcy. As a creditor, you certainly do not want your debtors going into bankruptcy court and petitioning to shed their obligations to you. Likewise, your debtors must understand that bankruptcy is truly a last gasp effort for a business to stay open, and should not be filed until all other options have been exhausted. Our attorneys help design those other options. We help our clients develop strategies to work out loan obligations so that both sides emerge better off.

Chapter 11 bankruptcy and the fallacy of the “clean slate”

Though Chapter 11 bankruptcy is meant to allow a business to restructure and get a fresh start, many never get a restructuring plan approved by the court, and of those who do, a significant number will be out of business or back in bankruptcy court within a few years. Many companies that file Chapter 11 bankruptcy never return to profitability.

There may be often viable options outside of bankruptcy court

We work cooperatively with businesses and corporations as they explore options to restructure their operations and work out debt issues without resorting to Chapter 11 bankruptcy. We assist our creditor clients to attempt to reach a deal that allows the debtor business a fresh financial start while securing the repayment of the obligations owing to our clients, all without a bankruptcy filing.

We help our clients explore their options for out-of-court workouts. A loan workout may be a better option than bankruptcy when commercial loans, asset loans, SBA business loans and other debts exist.

Protecting the creditor’s interests

Our law firm represents creditors during the business reorganization and loan workout process. While our goal is to work with all parties involved to find a consensual solution, we are fully prepared to fight aggressively for our clients when the situation calls for it.

 

If your customer is in default and you need assistance, call us today at 602-222-4828 or contact us online to schedule a consultation at our Phoenix office.