Atlanta, Georgia (webnewswire) January 18, 2019 – An Atlanta litigation attorney at KPPB LAW recently published a post explaining the benefits of hiring a litigation and disputes resolution attorney for help with commercial loan workout litigations. Commercial loan workouts are often undertaken by companies that are having a difficult time meeting their mortgage obligations and would like to work out a plan to rectify the situation. The plan can include forbearance agreements to defer payments or make interest-only payments for a period of time, extending terms, waiving late fees, modifying the loan to become interest-only, and other agreements between the lender and the company that allow the company to catch up on payments and continue using the property in question.
There are many reasons for a company to consider a commercial loan workout. The most common is that a company may find itself behind on payments with no feasible way of catching up quickly. Borrowers may also fail to maintain the property or insurance, pay taxes, submit financial statements, or properly allocate profits. Companies that are at risk of losing access to their properties or other penalties as the result of late payments or other loan violations could benefit from a commercial loan workout.
Properly completing a workout, however, can be a complicated and confusing process. In addition, banks may retain commercial workout officers to assist them in securing the money the bank is owed, making it even more difficult for a company to effectively represent itself during a commercial loan workout litigation. Retaining a firm that has experience with multiple aspects of loan workouts, including refinancing, modifying, negotiating, and litigating, can be critical to a successful commercial workout loan litigation.
Roy Banerjee, an Atlanta litigation attorney, specializes in defending, settling, and pursuing commercial loan workout claims, including business lawsuits, breach of contract disputes, and partnership disputes. He works with companies of varying sizes, from independent business owners to national and multinational corporations, and can assist with commercial loan workouts of any scope.
To speak with Roy Banerjee about your commercial loan workout options, call him directly at 678-443-2225 or visit https://www.kppblaw.com. KPPB LAW is located at 990 Hammond Drive NE, Atlanta, Ga., 30328.