Business Creditors / Counseling / Workouts

Serving Harrisonburg, Staunton, Winchester and Nearby Areas of Virginia

Hoover Penrod has decades of experience helping business creditors located all over the United States in bankruptcy proceedings and disputes occurring in Virginia. We counsel business clients (such as creditors’ committees, secured creditors, unsecured creditors, equity holders, landlords, and asset purchasers) involved in a variety of insolvency proceedings.

If you need an attorney experienced in Virginia creditor cases, please call Hoover Penrod PLC at (540) 406-4060.

Non-Bankruptcy Workouts

A “workout” is a mutually negotiated debt modification that does not involve a bankruptcy filing. This agreement can often be negotiated without the added time, expense, and complexity created by a bankruptcy proceeding.

Our workout services include:

  • Analyzing credit facilities, loan and security agreements, and related documents
  • Negotiating realistic terms with debtors, landlords, and/or other secured parties
  • Drafting forbearance and other debt-restructuring agreements
  • Enforcement of creditors’ rights
  • Short-sales
  • Foreclosures
  • Assignments for the benefit of creditors

Preventive Counseling for Business Creditors

Hoover Penrod is also equipped to provide your business with guidance that can protect it against loan defaults, under-collateralization, and various repayment-avoidance methods that debtors use in bankruptcy proceedings. Our bankruptcy lawyers can provide you with loan and collateral recovery strategies, as well as reliable litigation to protect your interests.

We understand our local lending environment and the needs of businesses when it comes to credit enforcement strategies. We will take the time to thoroughly understand your goals in order to provide creative, innovative, and effective solutions tailored to your business’s unique financial situation.

The attorneys at Hoover Penrod PLC have established a reputation among creditors’ bars as experienced, professional, and assertive in obtaining favorable terms for business creditors, and minimizing legal costs.

To schedule a consultation with one of our experienced Staunton financial attorneys, please contact Hoover Penrod PLC or call (540) 406-4060. We serve clients throughout Harrisonburg, Staunton, Winchester, and the nearby areas in Virginia.