Commercial Loan Workouts
Newsome Law, LLC has extensive experience in representing banks of all sizes in various commercial loan workout situations involving non-performing assets. We are experts at obtaining payoffs on non-accrual loans and recoveries on charge-offs. We obtain these results while controlling legal costs and avoiding counter-claims and lender liability lawsuits.
We also advise banks and other creditors on how to properly perfect security interests in their collateral and lending practices that will avoid problems in the event a bankruptcy is filed in the future. Through the use of expertly drafted forbearance agreements, loan agreements, notes, collateral documents, guaranty agreements and releases, we obtain the best results possible for your financial institution in problem loan situations while being able to keep most workout situations outside of bankruptcy and the state courts.
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We also advise banks and other creditors on how to properly perfect security interests in their collateral and lending practices that will avoid problems in the event a bankruptcy is filed in the future. Through the use of expertly drafted forbearance agreements, loan agreements, notes, collateral documents, guaranty agreements and releases, we obtain the best results possible for your financial institution in problem loan situations while being able to keep most workout situations outside of bankruptcy and the state courts.
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