RFI-EMI-GUY
Member
- Joined
- Dec 22, 2013
- Messages
- 8,557
- Reaction score
- 5,995
I don't see what they could mitigate. They signed a crappy contract. Maybe there was an illness and the cash flow dried up. Who am I to judge. They will have to write a check for money they owed or the creditor will swoop in and have the sheriff take the assets of the LLC and personally. If they are sitting on $59K in the bank they can move on. If not in worst case it could cost them their home, though even if sold out from under them, they retain the excess. That is not a tremendous amount of debt. I am not sure how much respect I would give any of the 100's of lenders and "family offices" who flood my in box looking to profit from my apparent good fortune. When has a bank ever said, ohh you are short this month, don't worry send what you can?I understand all of that. But we are looking at the person as a whole, and by now the overall picture is already quite clear and consistent.
And when a defendant simply fails to appear in court, that is also a bad sign. Let’s say your business failed and you simply could not meet your obligations. You can still show up, demonstrate some respect, explain the situation, and at least try to mitigate the consequences.
But no. They do not even do that.
