An alternative to costly and time consuming courtroom litigation to recover commercial debt is through online dispute resolution. Courts are the traditional means for lenders to enforce and recover unpaid debts. The problem that many businesses face is that litigation (or even traditional arbitration) is expensive and time consuming. Often, the cost and effort spent …
Financial institutions, credit unions, CMBS, and other lenders are all too familiar with non-performing debt and currently find themselves in a unique situation with enforcement mechanisms limited due to the shutdown of many courts and offices, the curb on enforcement by certain authorities, or the perceived cost of enforcement. Each borrower who defaults on a …
