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August 20, 2005
Debtors in Rush to Bankruptcy as Change Nears
As the NY Times story points out people are rushing to court to beat the changes in the law that the collection lawyers, credit card companies, and banks paid congress to enact.
So far this summer my small business has been chumped by three people and two businesses out of what they owe. We provided the product or service as asked for, and at the agreed upon price, and yet we end up with nada but a paper from the court.
One of the business accounts I am familiar with, and I would've forgiven the debt if he'd had but asked me to. The others just strike me as chislers and deadbeats. Another cost of being in business I guess.
Nothing feels worse than having to go without pay for work you do and then having to ask paying customers to pay more to cover the loss. Yet I must and will.
Posted by Ali Massoud at August 20, 2005 04:39 PM
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