Quote:
Originally Posted by candyflip
Even the bros can turn to ripping people off during tough times.
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Well, and also in tough times businesses can just flat fail. Even honest businessmen wind up owing money sometimes.
I know what it feels like to be a small businessman who can't meet payroll. Sucks. Sucks even worse to be the unpaid creditor, been there a lot more times.
A few of those times I felt I was deliberately ripped off. But most of them, it was just bad business; sometimes, it was just bad luck or a bad economy.
That's why the "unilateral payment holiday" thing is a red flag for me. Negotiating with creditors for more time is one thing; just
taking it is quite another. I can stand being owed money, if the guy who owes me is up-front and trying to work things out. But I can't stand being told "I've decided I don't actually owe you the money for another thirty days." That's a sign that the debtor does not take his obligations seriously. You want to minimize your exposure to guys like that. They are not your bros, and you do not want to be theirs.