Restructured Dr. B's Dental Practice Loans (2011) Settled the matter out of court
Doctor B owned a successful dental practice and he decided to expand his operation and buy a second dental practice. This firm was not involved with the purchase of the second practice. Dr. B's second practice did not do well and he was losing money each month. Doctor B called Nathan R. Lynch PLLC to discuss Bankruptcy as an option. Doctor B met with Attorney Lynch and he had concerns with Attorney Lynch's calm demeanor in analyzing the situation. Dr. B felt that perhaps Attorney Lynch did not understand the severity of his situation or he was overly optimistic about his ability to solve Doctor B's problems. Attorney Lynch recommended that Bankruptcy be the last resort solution and that we should try and restructure his debt and possibly divest of the second practice. Doctor B had already located a buyer for the second practice, but she was offering less than what he owed and he did not have the resources to make up the difference. At first the lender was not willing to discuss restructuring the loan and it was behaving in a threatening and aggressive manner. Once again Dr. B expressed his concerns that Attorney Lynch's demeanor was too calm and perhaps Attorney Lynch was not the right man for the job. The end result was Attorney Lynch convinced the lender that if Dr. B was unable to restructure the loan he would be forced to file Bankruptcy. A short sale was allowed on the second practice and Dr. B recovered financially and was able to be financially successful again now that he was down to just one practice to run.