When a Junk-Loan Buyer Buys Your Loan

Posted by: Nick Leiber on April 17, 2009

What happens if your bank fails, your loan gets auctioned off by the FDIC, and a junk-loan buyer comes a-calling? There’s a revealing story about this scary scenario in today’s New York Times. It reminded me of Amy Barrett’s 2008 story on similar scenarios, and Monica Mehta’s February column in which she explains how you can negotiate a discount on your own debt. (Of course, if you could buy your loan back, you wouldn’t be in the situation mentioned above in the first place.)

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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