A recreational vehicle dealer enjoyed years of success and profitability for many years. Over a three-year period, however, this client fell on hard times and posted substantial losses. Before coming to our offices, he tried to seek relief from other professionals. None were able to monetize his recent tax loss and he was forced to declare bankruptcy.
We recommended the client retain the services of a professional with expertise getting the IRS to return paid taxes up to 15-years in the past. This was a successful initiative as ultimately the IRS issued a cash refund to the RV dealer of over $10 million.
Our only regret was that this client waited too long to seek help. At Distressed Capital Resources, we know addressing increasing debt and financial distress has the best chance of a successful resolution, offering the greatest benefit, and the biggest chance of avoiding chapter 11, when the debtor seeks assistance early on.
Every business or real estate entrepreneur that comes to us in a distressed situation has their issues thoroughly vetted from business, financial and legal perspectives. We then create a unique Smart Plan℠ utilizing our wide berth of professionals who may be called upon to resolve the distressed assets. With experts in over 24 areas, our clients might find solutions with new financing, renegotiation and restructuring of leases, asset recovery and debt collection, or with assistance from business and financial advisors.