Can I Get Professional Help If I Already Did a Debt Restructure?

Clients who've attempted to do their own debt restructuring often lose credibility with their lenders and find themselves in need of professional help.

We have found that most of our clients have attempted to do their own debt restructuring before they turn to and retain professional services. And, most often, they are coming out of a short-term and incomplete restructure knowing that they will not be able to make the next full payment. They have developed their restructure based on a plan that shows the recession ending and revenues starting to climb. They have gotten the restructure but have continued to do business as usual. All of this has led, we have learned, to a debilitating and dangerous loss of credibility with their lenders. The professionals are then called in to solve the problem.

As I indicated in several of my previous articles, EquipOne provides a thorough review of your entire operation, looking at every single process, on both the revenue and cost sides. Your rate structure, sales-to-order process, and operational practices are extensively examined and appraised. These evaluations are comprehensive and, from these, recommendations are given, for example, on how to achieve better rates. This, in turn, leads to a better and stronger revenue stream. And, your current loan(s) structure is given an in-depth and essential review for the building of a complete plan that will establish - and restore - credibility with your lenders.

This all-inclusive study of your business leads us to the development of the best solution and the best restructure to bring good health to your business and to keep it - or get it back - on the track to success.

So we believe the answer to the original question "Can I get professional help if I already did a Debt Restructure?" is definitely "Yes!"

Questions or comments? Contact Mike Farley at [email protected].