Category: business debt negotiations
Prisoner’s Dilemma and Debt Negotiation
I love having a partner (Keith Hagan) who an expert in game theory. We have business clients (multiple) who are just mired in debt to multiple creditors, any one of which can shut them down to the point where they can’t pay any of them. My partner uses the Prisoner’s Dilemma scenario to keep the […]
On Pareto Efficiency and Business Deals
When I did my undergraduate degree at Purdue University, my major was in Management, and we didn’t have minors as such, we had “concentrations”. One of my “concentrations” was economics, and one of the courses that I took was Public Policy Economics. It was the most surprisingly useful course I took as an undergraduate. In addition […]
BATNA – “Best Alternative to Negotiated Agreement”
I was just introduced to the term BATNA – or “best alternative to negotiated agreement”. In short, as a prelude to negotiating a deal, you evaluate what your best alternative is if you can make no deal at all. This helps you determine the lowest possible offer that you will accept. Now, as you dig […]
Chapter 5 Bankruptcy may be just the lifeline that troubled small businesses need.
Since I don’t practice bankruptcy law, I am just now learning about the new Chapter 5 bankruptcy provision that went into effect February 2020. Subchapter 5 is intended to be a simplified and less-costly alternative to a Chapter 11 reorganization. Chapter 5 is much like a Chapter 11, but there is no creditors committee. Effectively, […]
Zombie Debts – Scary Old Debts that Debt Collectors Want to Trick You Into Paying
Debt Collectors who file lawsuits on an old, time-barred debt, or who trick you into paying on one, violate the Fair Debt Collection Practices Act. They may have to pay you up to $1,000 for this violation.Zombie Debt is a real term used to describe a debt that has come back from the grave to […]
The Statute of Limitations on an Debt in Indiana
Lenders and Debt Collectors only have six years to take you to court on a debt. When they take you to court after those 6 years are up, you may be able to sue them for up to $1,000. If you’re being sued in court by a debt collector, the first thing you should look […]
We are Investigating Elite Imports – Fresh from news from an FBI raid
We are investigating Elite Imports on 52nd and Keystone in Indianapolis. The news report that Elite had been on probation with the Bureau of Motor Vehicles for title delivery issues. For more information, check out the WRTV story. If you are having a problem with this or any other dealership, please contact us. Don’t believe […]
