There are some things we see over and over that are really not in your best interest. Here’s why:
#1. “What We Have Here is a Failure to Communicate”
Haven’t seen the movie in a while, but I think that Cool Hand Luke said this right before getting off’d by the Warden. Just like your credibility (my Top 10 #2), ongoing and constant communications are my Number One pet peeve. Letters are not the same as phone calls, emails are not the same as phone calls, and a phone call is not the same as sitting in a room across the table with someone. Request a meeting. Offer to come to them. Call up for no reason or a made-up reason, or to touch base and share some little tidbit of information. Be proactive. Communicate verbally and often.
It has become way too easy to exchange “nasty-grams” via email, and lawyers have unfortunately become equally if not more guilty of doing so. Even if they are friendly, email communications are not nearly as effective as verbal. Remember as a financially distressed borrower, your goal is to get a deal without expensive and protracted court battles, and move on. The best way to get a deal is to persuade and convince your bankers that your deal is also their best option. Go read something about persuasion. It takes a great deal of soft skills in addition to legal advice and hard skills. Persuasion is extremely personalized to your audience. People are more inclined to help those that they like. My number one tip for getting what you want is to work on your communication skills, period.