Often in the commercial collections context, it is advisable to consider the possibility of entering into what are known as workout agreements or forbearance agreements with a debtor to avoid litigation. To determine if this is in your best interests, or the best interests of your business, turn to an experienced and knowledgeable workout and collection lawyer.
Kaufman & Forman, P.C., is a group of dedicated attorneys who strive to help clients understand their situation and options when facing debt workouts and collection matters. Contact us online or call 770-390-9200 to set up a consultation.
Total Commitment To Effective, Client-Specific Service
Our firm prides itself on providing committed, personalized attention to each and every client, keeping in close contact throughout the entire case. Each attorney at our firm is talented, accessible and dedicated. They make up a skilled team that offers workout and collection services best suited to your specific situation.
Generally in workout agreements, the creditor agrees to refrain, or forbear, from taking action against the debtor so long as the debtor abides by the payment and other terms of the workout agreement. Particularly in circumstances where the debtor is unable to pay according to the original schedule, such agreements help both parties by allowing the debtor to pay on a manageable schedule and by offering a future stream of payments to the creditor.
If the debtor fails to abide by the terms of the agreement, the creditor’s rights to payments and collateral, if applicable, are still protected. We will work to protect the creditor’s rights to the fullest extent of the law in drafting and negotiating these agreements.
Contact Kaufman & Forman, P.C., To Discuss Your Situation
To learn more about workouts and collections, contact us online or by telephone at 770-390-9200 to schedule a consultation. One of our lawyers will meet with you and determine a sound strategy to address your workout or collections issue, along with any bankruptcy matters you may be facing.