4 ms·

you could also declare bankruptcy as a form of renegotiation or (like a really big company) stop paying all of your bills and wait for your creditors to accept

you could also declare bankruptcy as a form of renegotiation or (like a really big company) stop paying all of your bills and wait for your creditors to accept lower offers. When you gamble you win some and you lose some. Do you have the stomach for it? Maybe this lady in the article is just better at playing hardball. -- If the banks fail to show up in court, fail to file the correct documents, etc etc etc, why should they be treated any better than a normal person who does the same thing?

MrZongle2 12y ago
Do you have the stomach for it? Maybe this lady in the article is just better at playing hardball. Maybe I'm old fashioned, but it seems to me that making ends meet is the way hardball is played. The woman in the article looks like she just relied on running the clock out in order to get the game declared a tie. I have little sympathy for the banks. But I have little more for folks who choose not to meet their financial obligations.
- liveoneggs 12y ago
  luckily neither party in this story is asking for sympathy, only money.
MCRed 12y ago
It shows the inefficiencies of the courts... whether it helps or hurts businesses or individuals doesn't matter. Not providing an efficient and sufficiently staffed, well run court system is the crime here... and society pays the costs while never blaming the cause. Note the rapid rise in arbitration and arbitration agreements-- it's a private system that is far more efficient, and thus a lot cheaper to get issues decided. This is why billion dollar companies have arbitration agreements-- they can afford the lawyers for a court battle and are big enough to get heard, but they'd rather have it settled (even not in their favor) by arbitration.
- Lawtonfogle 12y ago
  Arbitration is on the rise because one side has massive power in picking who does the arbitration, and being a private system that system has an incentive to keep the one who picks it happy so they won't change. Thus arbitration will favor the side who sets the terms of the contract.

MrZongle2 12y ago

Do you have the stomach for it? Maybe this lady in the article is just better at playing hardball. Maybe I'm old fashioned, but it seems to me that making ends meet is the way hardball is played. The woman in the article looks like she just relied on running the clock out in order to get the game declared a tie. I have little sympathy for the banks. But I have little more for folks who choose not to meet their financial obligations.

liveoneggs 12y ago
luckily neither party in this story is asking for sympathy, only money.

MCRed 12y ago

It shows the inefficiencies of the courts... whether it helps or hurts businesses or individuals doesn't matter. Not providing an efficient and sufficiently staffed, well run court system is the crime here... and society pays the costs while never blaming the cause. Note the rapid rise in arbitration and arbitration agreements-- it's a private system that is far more efficient, and thus a lot cheaper to get issues decided. This is why billion dollar companies have arbitration agreements-- they can afford the lawyers for a court battle and are big enough to get heard, but they'd rather have it settled (even not in their favor) by arbitration.

Lawtonfogle 12y ago
Arbitration is on the rise because one side has massive power in picking who does the arbitration, and being a private system that system has an incentive to keep the one who picks it happy so they won't change. Thus arbitration will favor the side who sets the terms of the contract.