Westchester County Loan Workout Attorneys

Lawyers for Franchise Loan Modifications in Metro New York

If you currently own and operate any type of franchise, there is a good chance that you needed various types of franchise loans to fund your venture. While there is nothing wrong with well-designed loans for franchisees, the situation can become frightening and overwhelming for borrowers who are in danger of falling behind on their payments. Delinquent franchise loans can put your business, as well as your livelihood, in serious jeopardy. Fortunately, there is hope.

At Ivey, Barnum & O'Mara, LLC, our experienced franchise lawyers work with franchisees and lenders to negotiate loan workouts and modifications that benefit everyone involved. We understand the importance of keeping the franchise running, if possible, while ensuring that the lender does not suffer undue losses. If you are behind on your loan payments, or you are worried about a forecasted industry downturn, our team can help you explore your available options.

Fairfield County Counsel for Loan Modifications and Workouts

A loan workout or modification is a negotiated adjustment to the terms of your loan agreement that will prevent the lender from calling the loan. Depending on the circumstances, franchise loan modifications can be extremely complex, as they must take into account the interests of the franchisor in addition to those of the borrower and the lender. A franchise lender is not obligated to agree to a workout, but with the right representation and preparation, a mutually beneficial resolution can often be reached.

If you are struggling to stay current on your loan payments, the experienced attorneys at Ivey, Barnum & O'Mara, LLC will help you negotiate with your lender or lenders to find a solution. We will work with you in analyzing the reasons that you are behind and how to prevent future delinquencies. Our team will also assist you in working with the franchisor during the process. It is usually in the best interests of the franchisor to protect the brand and to avoid unpleasant surprises, such as the sudden closure of a franchise location.

Whether you own a single location of a franchise or have franchise interests in several locations and/or states, we can provide the skilled guidance and trusted representation you need. Contact our office today before you get any further behind on your loan.

Lender Representation

Franchise lending is a niche market due to the complexities involved in franchise loans. At Ivey, Barnum & O'Mara, LLC, we work on behalf of all types of franchise lenders in modification and workout negotiations. Our attorneys serve as local counsel for large, national franchise lenders in situations involving franchisees in the Metro New York area. We also handle cases in which our firm was involved in the loan origination, which affords us first-hand knowledge of the franchise and all interested parties. Regardless of the situation, we are equipped to help franchise lenders of all types protect their rights in workout negotiations.

Let Us Help You

For more information about franchise loan modifications or workouts, contact the offices of Ivey, Barnum & O'Mara, LLC today. Call 203-661-6000 to schedule a confidential consultation with an attorney in our Franchise Department. Our firm serves lenders and franchisees in Stamford, Greenwich, White Plains, Westchester County, Fairfield County, and the rest of the Metro New York area.