The Do-It-Yourself Bailout by Kenny Golde

Author:Kenny Golde
Language: eng
Format: epub
ISBN: 978-1-56980-498-8
Publisher: Barricade Books

My attorney called to confirm the letter directly with the legal department. We got a lawyer on the phone (not just one of the call-center agents), and it was confirmed. We asked if they wanted a cashier’s check or wire transfer. It was past 2 p.m., and I wouldn’t be able to do a wire transfer until the next day. The lawyer we were speaking to couldn’t answer as to the best method for making the payment. Apparently, the attorney directly responsible for my account, who had approved the $10,000 when the guy on the phone put me on hold an hour ago, was now not in the office to answer that question. We left word for him to call me directly with his preference. But not wanting to wait, I went to the bank, got the cashier’s check, and took it to FedEx.

I was feeling pretty good. I had spent $35,000 and settled $98,000 of my debt, which was now reduced to $114,000, from the original $212,000.

Driving home, I received a call from the attorney on my account. It was the first time I had spoken to him directly. I told him that I’d over-nighted a cashier’s check and gave him the tracking number. He said that was acceptable and then asked me how I was handling the situation of my debt. The way he asked it was different from all the other collections conversations I’d had. He and I had just reached a settlement that he was pleased with, and the question was not only friendly, but personable. I answered honestly that it had been a difficult year, but that I felt good about starting to work through the debt. He seemed appreciative of my situation and admitted that his desk was fuller than it had ever been with people in situations just like mine.

As the call wound to an end, he said, “We really hope that you sell your film, get liquid again, have future projects, and that you’ll come to us for your banking and borrowing needs.” Here I had just settled a $22,000 debt for $10,000 and not an hour later the attorney who was suing me on behalf of the bank was expressing an eagerness to do business with me again.

Several weeks later I received the official court documents dismissing the case. I particularly like the sentence, “No balance remains due and owing.” (See Documents 6a and 6b, below.)

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