Tom Opdyke of the Atlanta Journal Constitution has an article in today’s paper entitled Therapists Helping Builders Cope During Housing Slump (reg. may be required).   As the title implies, Tom discusses builders who have sought counseling to deal with the stress arising from the business.  I have represented a significant number of builders and developers over the years, in bankruptyc and other cases, and can testfy about the level of stress they go through.

"It’s a need we never addressed before," said David Ellis, executive vice president of the Greater Atlanta Home Builders Association, which earlier this year began telling its 3,300 members help was available if they wanted it. "It’s a different time, and we’re trying to be responsive to our members’ needs."…

Measuring vacant available real estate is easier than gauging builder turbulence. Smaller companies simply fold. Larger ones may seek bankruptcy protection, but there is no data on builder bankruptcies.  Lawyer Scott Riddle, who tracks local Chapter 11 filings on his blog, sees the mounting evidence of the slow housing market and credit crunch.  I think there has been a significant increase in builder bankruptcies," Riddle said...

Charlie Cummins, a counselor and executive coach, is among those trying to get there before the tragedies occur. "We talk with people about the changing industry and how they manage its effect on them and their family," said Cummins, a counselor and executive coach who has worked with the Greater Atlanta Home Builders Association.

Tony Perry, who sought bankruptcy protection in December for his Oakwood Homes, thinks talking about the embarrassment and feelings of loss can kickoff the rebound. "The fastest way to get back is to get some emotional help," said Perry, a self-described "recovering builder." ..  "You can’t feel much worse than this," he said of his bankruptcy and of having to move his family to a smaller home. "You can say it’s just business, but it didn’t feel like just business to me."

The firm’s practice focuses on bankruptcy and litigation. Scott has represented Chapter 11 debtors, creditors, trustees and other interested parties in bankruptcy cases and bankruptcy litigation. For more information, click here.