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Re: In a financial squeeze


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Posted by Why Chat (209.240.198.61) on October 06, 2002 at 23:13:57:

In Reply to: Re: In a financial squeeze posted by cityzen on October 06, 2002 at 22:04:05:


It was certainly not sarcastic, just practical.

If you have several creditors, and can't pay them you have to make a clean break and take care of your own neccessities first.

Half measures do not work, they will never accept reduced payments,as they will just close the accounts and add extra fees and interest on so that when they charge the off thy will get the most advantage from the write off.

Cal. has decent consumer protection, so they can get back on their feet and then see what they want to do. BK may be an option down the line, but with no assets it is unlikely he wll be sued.If he does get sued, he can do BK.

There is no point in their draining their remaining resources to try and stave off the inevitible write-offs. They should think of their own needs first, and not what the cc companies want.

Now a days in Silicon Valley, they will have LOTS of company.


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