Economic Distress/There Is Help Available

Bruce Bierhans

Attorney
(866) 735-1102 Ext 540

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Our office has been involved in a number of areas of concern to clients that have experienced problems related to the economy. The two primary areas have been cases involving subprime or predatory lending and securities or investment related problems.

These problems have involved those struggling as well as those with wealth. In the investment area, we have represented clients that were sold Auction Rate Securities. Our clients were told these securities were "as good as cash." Unfortunately, they were not. However, we are pleased to report that, in at least one case, after putting the brokerage house on notice of potential claims, one half our our clients securities have been fully redeemed. We anticipate that more redemptions are on the way.

In the subprime area, while we are litigating some cases, we have also been successful in negotiating short sales or short refinances. We are finding that more lenders are now willing to come to the table and try to turn non productive loans into productive loans.

There is help out there and we are finding that there is a light at the end of the tunnel for some of our clients.