Miami Commercial Loan Dispute Lawyer
A commercial loan dispute usually starts with the documents, not the banking industry. Law Offices of Aaron Resnick represents businesses, lenders, borrowers and guarantors in disputes involving commercial loan agreements, defaults, workouts, guaranties, collateral and lender remedies. Aaron Resnick has handled business disputes in Miami since 1998 and works hands-on on every case. Aaron knows the law. He knows both sides. And he knows Miami.
Commercial lending disputes turn on what the loan documents say.
What Happens When a Commercial Loan Goes Into Default in Florida?
Start with the note, loan agreement, security documents, guaranties, amendments and default notices. Those documents usually define the payment default, cure rights, acceleration, collateral remedies and any required notice. If the loan is secured by real property, foreclosure can also create a deficiency issue after the collateral is sold.
Law Offices of Aaron Resnick also drafts promissory notes and handles UCC-1 filings for business loans.
Does a Commercial Loan Workout or Forbearance Agreement Need to Be in Writing?
Florida's chapter 687, Florida Statutes makes writing central to a credit agreement claim. A debtor may not maintain an action on a credit agreement unless the agreement is written, states consideration and relevant terms, and is signed by both creditor and debtor.
The statute also says a new agreement is not created merely by consultation, advice or an oral promise to forbear.
Can a Lender Enforce a Personal Guaranty in Florida?
A guaranty is its own contract, so the signed guaranty and its exact language matter. Florida's chapter 725, Florida Statutes requires a written, signed promise when one person is charged with answering for another person's debt or default. The loan file should therefore include the executed guaranty, amendments, notices and any release or modification affecting it.
How Long Is There to Sue on a Written Commercial Loan or Guaranty in Florida?
Florida's chapter 95, Florida Statutes generally gives five years for a legal or equitable action on a contract, obligation or liability founded on a written instrument. The same chapter gives five years to foreclose a mortgage. A separate one year period applies to deficiency claims related to notes secured by mortgages against residential properties of one to four dwelling units.
Calling a loan commercial does not by itself take the claim outside that rule.
Can a Commercial Loan Interest Rate Be Challenged as Usurious in Florida?
Florida generally treats interest above 18 percent simple interest as usurious for covered obligations, but loans above $500,000 use the higher thresholds in chapter 687, Florida Statutes. That chapter addresses willful and knowing charges above 25 percent and above 45 percent, subject to its exceptions.
The loan amount, lender type, fees, charges and statutory exceptions all matter before applying those numbers.
What Should I Have Ready for a Commercial Lending Dispute?
Bring the note, loan agreement, guaranties, security agreement, mortgage if any, amendments, payment history, default and acceleration notices, workout proposals, lender correspondence, collateral records and the next deadline. For a lender, include the payoff and collateral history. For a borrower or guarantor, include every claimed modification, waiver, forbearance or release.
Send the parties, the problem and the next date; the firm reviews every inquiry and tells you whether it can help.
Commercial Loan Defaults, Workouts and Lender Remedies
The firm handles disputes involving loan agreements, promissory notes, guaranties, defaults, restructurings, collateral, foreclosure, repossession and lender and borrower claims. When real property secures the debt, Florida's chapter 702, Florida Statutes permits a deficiency claim after foreclosure, subject to the court's discretion and the procedural posture of the foreclosure case.
A workout can involve extending payment dates, changing covenants, modifying collateral, restructuring debt or documenting a temporary forbearance. Because Florida's chapter 687 places strict weight on the written credit agreement, the signed documents and any later written amendments belong at the center of the analysis.
Banking and Financial Regulatory Work
The firm's work also includes regulatory matters involving federal and state banking rules, including the Bank Secrecy Act, Dodd Frank, Gramm Leach Bliley, fair lending, privacy and anti money laundering requirements.
Related Pages
We Don't Make Promises. We Have Results to Prove It.
Aaron Resnick has handled business disputes in Miami since 1998 and is a fourth generation Miami resident. He works hands-on on every case; the client gets Aaron on every major litigation issue, not a junior partner. The Law Offices of Aaron Resnick represents businesses, lenders, borrowers and guarantors in Miami Dade, Broward and Palm Beach counties in commercial loans, guaranties, defaults, workouts and lending disputes. Call 305-672-7495 or request a consultation.
This page provides general information and is not legal advice. Prior results do not guarantee or predict a similar outcome.
