Loan Modifications (Workouts and Forbearances)
Birch Horton Bittner & Cherot assists both lenders and borrowers with modifying loans when required by economic circumstances.
This practice area emphasizes negotiation and the ability to understand business dynamics. From the lender’s side, there is significant transactional work that comes with negotiating and documenting the modifications. See Secured transactions. From the borrower’s side, the work often merges with bankruptcy avoidance and pre-bankruptcy counseling work – the key is to help the troubled borrower and its principals understand their options and select the appropriate strategy. See Bankruptcy-avoidance strategies and pre-bankruptcy counseling.