Debt Restructuring is the process by which a Debtor and a Creditor agree to modify the terms of their original agreement so that a better repayment plan is established for the repayment of a debt. There are instances in which a Debtor, whether it be an individual or a business, is unable to meet the original terms of the repayment agreement and is at the prospect of falling behind in payments. A negotiation to restructure the original terms of the debts would be beneficial. This is particularly important for example in small business loans, account receivable loans, secured loans, etc. It is important to be represented by counsel, as it is common that creditors will not want to discuss changing the terms of their agreement with the debtor. Having an experienced third party handling such negotiation has a better chance of achieving the desired result. If you would like to explore the option of debt restructuring, please contact our office at 561-544-0944.