Ready, set, restructure

Description

Abstract: Missed payments, maxed out credit lines, management turnover and unreturned phone calls are just a few of the precursors that indicate it’s time to recommend a restructuring specialist to assist the distressed borrower. This article explains how a specialist can identify costs that can be cut and noncore assets that can be liquidated. It also explains why forgiving or restructuring debt might be advisable. A sidebar discusses ways a restructuring specialist can recommend creative alternatives to improve cash management.