Revenue is down, debt service choking you?... join the club, do a workout

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    It is not a dishonorable strategy to implement a debt workout. In fact reality dictates that failing to do this will result in your ultimate demise, where everyone, all your creditors get nothing and you lose everything.

    Yes personal guaranties are also capable of being worked out to satisfactory conclusions. Not bankruptcy, not a legal procedure but a business strategy capable of keeping your business alive and you above water.


    1. The first step is to recognize the need for such a strategy.

    2. The second step is to find the help to sup[ort such implementation as it is complex and requires expert support.  Can a lawyer help you, sometimes but once a lawyer is engaged the bank engages council and that's a wrong turn in the road as lawyers use the law, business owners succeed by using business strategies and a workout is a business strategy pure and simple.

    3. Be pepared for uncomfortable changes but survival is the conclusion. Possible survival of your business, your home and the elimination of debt with what we call affordable losses, that works.


    Each business and guarantor requires specific evaluation to determine what the best strategy is, as this is unique work requiring adaptation to the situation. Get a specialist and examine the possibilities, it can be done.