I'm doing a little paraphrasing but it went something like this.
In the beginning A owes B a lot of money. A also owes me a little money.
Later on B should start paying A. However since A owes all that money it is decided that B should burn through all the money A owes as a credit.
I really dislike those deals as no one ever keeps track of when the credit is burned through.
Now B burned through that large credit and never bothered to start paying A when the time came.
I had to figure out all the numbers. Turns out all the money A owed me was never paid and is still owed. Call that value X. What B would owe A is 10X. B was rather shocked by this. Hello you didn't keep track of things did you?
A and B decide instead of B paying A 10X and A paying me X, that B will pay X to me and A will forgive B's debt.
Okay. I did my job and protected X. A and B got something they wanted. A forgives B's debt and resolves the debt to me. B got to settle a debt for 10 cents on the dollar. Legally it is all good and the judge signed off on the deal.
Yet I have a huge moral qualm. A is a deadbeat dirtbag and gets out of paying any money for any debts A owed. I'm a firm believer you should pay your debt. I'm hoping one day all the crap A has pulled off will someday catch up to him in a bad way. I don't have any moral qualms about that.
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