CCi sells $75M in loans for $19M less expenses. The landlord pays a few hundred dollars to collect $381,000 right away. Who is making better decisions? Any why didn't CCi simply pay before the suit was filed?
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In my State under lease law any delinquency means all future lease payments can be be called into the present for immediate collection.They wish to be a creditor on record with an early claim. Memo to self never fail to pay on a lease agreement it can corrupt an otherwise fine credit rating and force an immediate liquidity problem and eviction of a tenant or surrender of a car or forfeiture of machine leased
When in doubt...blame the employees! The slacker(s) who normally cut out the monthly check was probably to busy looking at this site, applying for a new job, or already got laid off.
Anonymous31508- Interest paid to CCi is much less than the penalties for late payments. And beyond that, CCi is paying about 15% on their debt.
It might be to keep interest compiling. That could be how bad off we are.
They had it... They just did not relinquish it to the landlord. They were obviously late in payments
CCi claims it had "sufficient financial resources to make this payment at all times."