Financing Loan Default

If your bridge financing loan went into default and you don’t have the finances to pay it off, do not hesitate to contact Bradford Law Offices. We might be able to represent you in a bankruptcy case. Filing for bankruptcy could help you pay back what you owe while you continue to run your business. A bridge loan “bridges the gap” between the funds a business needs and a solution for longer-term financing. You can apply for a bridge loan if you have specific obligations you must meet immediately. Short-term loans often have higher interest rates than long-term loans but offer the temporary cash flow necessary to pay for current business-related expenses. You must meet the terms of your loan by making regular payments on time and in full. You could be subject to late fees and other penalties if you miss one. If you continue missing scheduled payments, the loan could default, and the lender could take collection action against you. Although a bridge financial loan can benefit your company, you could face a range of consequences if you don’t pay what you owe. When your bridge loan goes into default, your only option might be to file for bankruptcy. Bankruptcy could give you time to get yourself out of the hole you’re in and place your business on a better path. The Raleigh business bankruptcy attorneys of Bradford Law Offices are ready to help you with your defaulted bridge loan. You can depend on our legal team to take on the responsibility for your case and guide you through the entire process. We understand your stress while taking on debt you can’t afford to pay. Don’t try to handle your bankruptcy alone. We will help you fight for the future of your business and set you on a better path.