Creditor Negotiations Quotes

Bankruptcy is a serious decision that people have to make.

After explaining why you're in trouble, ask the creditor if the company would be willing to accept a smaller amount. Start negotiations at about 30% of the total amount due, with the end goal of paying 50%.

The creditors are proving impossible to deal with and short of a sudden appearance on the scene of wealthy art patrons, we are going to be turned out of this dear little house where I led a simple life and was able to work so well. I do not know what will become of us.

Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.

A bankruptcy judge can fix your balance sheet, but he cannot fix your company.

A normal way that the American free market system has worked is that we have a process of unwinding. It's called bankruptcy. It doesn't mean, necessarily, that the industry is eclipsed or that it's gone. Often times, the phoenix rises out of the ashes.

Know what happens when an individual declares bankruptcy and how it affects his or her life.

The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions.