And ZenCash has done an impressive job of helping some of its clients collect old debts.
Many companies are still reeling under old debts, lacking collateral and deemed unfit to secure loans.
In practice, it would mean replacing old debts with new debts - borrowing new money to repay existing creditors.
Things actually seemed to be going pretty good for me, a man named DeWitt sent to Columbia to retrieve a girl to settle some old debts.
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It includes old debts that are uncollectible due to the statute of limitations, those resolved in a bankruptcy and in some cases, debt that was the result of identity theft.
This is because countries tend not to actually pay off their debts: they hope that the economy will grow faster than the debt and so will become less important but they very rarely actually pay off the old debts.
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The SEC seems to harbor similar suspicions, and in March it asked WorldCom to list the carriers included in the big charge, how much each owed and how old their debts were.
That's right, even high earners can walk away from old tax debts in bankruptcy, although if the IRS has moved fast enough and placed liens on your prebankruptcy assets, it may still be able to get at those.
Moreover, she says, it's impossible to know whether too many or too few offers are being made and accepted, because the IRS hasn't compiled enough data about who's accepted and rejected, how old their debts are or how much is later collected from those who are turned down.
Mexico swaps its old, unpayable debts, for new debts with lower interest rates and smaller principal sums.
Easy answer, devised by Mr Franco, who has old scores as well as debts to settle with Mr Cardoso: refuse to service what they owe.
Mr. Wallis now works in programming and design for an international manufacturer in Rhode Island, but doubts he'll ever be able to repay debts from his old business.
Debts from the old Health Authority have been passed onto the new trusts, who are now faced with having to find the money while trying to maintain services.
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America may find it has to promise that the new Iraq will honour those debts and that, even if old oil contracts are not honoured, opponents of the war will not be excluded from new contracts.
The deal brings to an end a ten-year dispute over the debts, most of which were originally owed to the old East Germany.
The hope is that enough of the "old Dewey" could be preserved to enable a robust collection of debts from clients, these people said.
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It is not as creditor-friendly as the old German law, which quickly wound firms up to repay (some of) their debts as fast as possible.
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