So What Happens If The Workout Does Not Work Out?
There is a frequently asked question that comes in a few varieties such as:
- What is the worst-case scenario?
- What happens if they just say “no”?
- What are my odds for success?
- How likely is it for this to happen as you say?
In short, a workout sounds too good to be true.
So, what happens if the workout does not work out? In a word: NOTHING. Absolutely, positively nothing. You are not any better or worse than you were before we started the workout, although we still may have succeeded in isolating your business from any debt. (Though, I guess that we could also have failed to do that in this make-believe inquiry.)
The real bottom line is this: we never fail. Our strategies are exemplary and we are doing the right thing for all involved. It is appropriate and responsible action in a bad situation. It is what responsible borrowers in default should do. Thus our strategies always work out.
Sometimes our clients fail in the process as either their core business was too severely damaged by the recession and revenues are too low to support a business, or the defaulting borrower simply does not have adequate cash flow, revenue, profit, etc., to support a workout strategy as it does cost money to do. In these instances, clients have been unable to support the strategy so yes, they fail.
But too good to be true? No! It is both very good and true; our track record speaks for itself. We wrote the book. We know how to do this.
Call us for a no-obligation teleconference. Norm will arrange it and we can discuss our strategies and how they would work for you: 413-584-2581.
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