Bankruptcy isn't the only option. If there is a way to resolve debt and negotiate with creditors outside of the courtroom, we'll find it.
If a bankruptcy is not recommended, we can navigate outside of the courts in order to resolve your financial distress. This option could involve negotiations with some or all of your creditors in an effort to restructure your obligations. Aggressive creditor activity such as lawsuits, harassing collection calls, frozen bank accounts, or repossessions can create stress and confusion. For a business this can result in an environment where operations are jeopardized. Rattet Pasternak has been successfully settling debt with traditional and non-traditional lenders, landlords, and trade creditors for decades.
For a business, a workout can take on many forms; it can be as simple as restructuring a bank loan, a lease modification, or an agreement with creditors. Workouts can save your business, prevent a bankruptcy filing, and continue working relationships for the benefit of all. It can also include the sale of a business which can be a complex transaction when creditor activity is high. We are uniquely qualified to handle any of these scenarios, and can communicate all of the available alternatives to our clients.
We are often called upon to negotiate and resolve individual debts, in cases when bankruptcy is either unadvisable or unnecessary. Whether the debts are credit card, household or service related, or arise out of a failed or failing business such as personal guarantees on business debts, we will review your total financial picture and work to negotiate a settlement that makes sense for you and your family. Often, the mere presence of a bankruptcy attorney in a negotiation can make a huge difference in the outcome.