The Bankruptcy Threat in Debt Settlement Negotiations

The Bankruptcy Threat

When attempting to settle a debt or otherwise negotiate with a creditor, the bankruptcy threat is a potent weapon. The credible threat of bankruptcy from your attorney can induce a creditor to reconsider his position during negotiations. Creditors More Willing to Negotiate If You Are Willing to File Bankruptcy Suppose you want to settle a debt for less than is owed. Do you […]

Use Creative Destruction to Refocus Your Personal Finances

Use Creative Destruction to Refocus Your Personal Finances

Austrian-born American economist and political scientist Joseph Schumpeter coined the term creative destruction in 1942. “Creative destruction” is the willful reconfiguration of an existing economic system in order to clear the ground for the creation of new wealth. There are obviously many nuances to the economic theory. But you can use the concept of creative destruction […]