For Industry Professionals, Managers, Trades & Suppliers
J. NORMAN STARK, ATTORNEY and REGISTERED ARCHITECT
JURIS DOCTOR, B. ARCHITECTURE, B.F.A.
17000 St. Clair Avenue . Cleveland, Ohio 44110-2535
Tel.: (216) 531-5310 . Fax: (888) 833-5860 . E-Mail: www.Normstark@aol.com
In Florida . 6500 Midnight Pass Rd. #105 . Sarasota, FL 34242 . (941) 349-2061.
Debt Relief - Survival Strategy
Business and personal debt have become a management nightmare for those unprepared to deal with hostile creditors and their
unyielding demands for payment. Even with the current economic distress, with property values still in sharp decline,
and with interest rates sliding into low single digits, creditors still appear unwilling to negotiate, discuss, or even
consider reasonable avenues of debt relief. Cash is their only apparent objective, even if it means destruction of a
long-standing, reputable business.
An important resource is an organized, professional team of experienced Attorneys, defending debtors, and skilled in the
art of negotiating fair and just resolution of debts, without the threat of bankruptcy, foreclosure, or destruction of
credit. Attorneys with experience in defending debtors can muster years of professional legal experience and successful
client relations in resolving complex legal problems involving credit and debt. Frequently, debt defaults arise as the
result of illness, injuries, disability, family emergencies, unemployment, investments-gone-wrong, or simply overspending.
Each dilemma can be overwhelming, since most debtors lack the skills and experience necessary to defend against aggressive
debt collectors, legally!
Well-intentioned debtors are no match for the strategy, mindset, and aggressive telephone tactics. Nor are they prepared
to defend upon being sued and hauled into Court. Sincere debtors, intending to make good their promises, are also at a
serious disadvantage in this arena of continuing daily economic pressures. Faced with mounting defaults, with penalties,
charges and previously established, high interest rates being imposed without modification, most debtors cannot even
imagine how to negotiate a fair or reasonable resolution of their personal and business debts.
Debtors' Defense Counsel can provide the legal strategy necessary for economic survival! They can invoke Federal and state
laws which protect debtors and require creditors to provide a thorough review of all claims, including all of the charges,
fees, penalties, interest and added charges, to achieve fair and equitable resolution for each debtor-client.
This may be especially true with business loans, lines of credit, personal credit, credit cards, taxes and utility bills as
Where necessary to combat default notices, or actual foreclosures, or other previously filed active court cases, Attorneys
can appear as Debtor's Counsel, to request extensions of time necessary to make arrangements for "breathing room", to
permit sensibly planned resolution.
Debt restructuring may actually result in the existing debt being replaced by a new, but much reduced debt, especially where
the delinquencies, and interest rates can be modified to meet the debtor's financial ability to repay. Where necessary,
Counsel may also negotiate or recommend available alternatives of loan workouts, default forgiveness, arrangements,
assignments, loan extensions, and other equitable relief. As a last resort, Counsel may implement relief through
receivership, liquidation, sale, corporate reorganization, or Bankruptcy and non-Bankruptcy legal strategies.
Federal laws and those of each state provide that every debtor is entitled to fair and equitable representation and defense,
in order to negotiate and achieve a fair and reasonable debt workout arrangement. It is urged that retained Counsel,
consulted without delay, can provide immediate representation utilizing the professional experience to formulate and
implement proper strategies for debt relief and resolution.
AUTHOR / EDITOR: J. NORMAN STARK is an Attorney-at-Law, a Registered Architect, (AIA, NCARB) Registered
Landscape Architect, Interior Designer, Planner and Senior Appraiser (ASA), admitted to practice law before the Bar of
Ohio, the US District Courts, Ohio and Illinois (Central Dist.), the US Court of Appeals, and the United States Supreme
Court. He is a Mediator, Arbitrator and Litigator with experience in Business, Construction Law, and Public Works, and with
additional experience in Real Estate, Construction Attorney (Legal Project and Crisis Management), and as an Expert Witness
(Forensic Architect). His office is in Cleveland, Ohio.