Owe money to 2 banks. Buy note from Bank A and offer it to Bank B to restructure their loan? How would Bank B value note?

Asked over 1 year ago - Columbia, MD

Comments are that this idea is too complex but personal bankruptcy very possible if settlement not successful . The loans for both banks are secured by real estate . Bank A is a regional bank . Bank B is a community bank , not in the best financial health . Due to differing goals , other LL member will not agree to sell either piece of collateral at market prices

Attorney answers (1)

  1. Thomas C Valkenet

    Pro

    Contributor Level 17

    1

    Lawyer agrees

    Answered . The most direct route is to sue for dissolution of the LLC. Everything else you describe is musical chairs on the deck of the Titanic. Bon Voyage!

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