Spirit Now Sure As It Emerges From Bankruptcy
09-03-2025 | 07:53 AM
#1661
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,847
Likes: 654
From: Engines Turn or People Swim
I got it right once or twice, but got it wrong once too.
09-03-2025 | 08:16 AM
#1662
On Reserve
Joined: Apr 2020
Posts: 71
Likes: 4
09-03-2025 | 09:01 AM
#1663
Line holder
Joined: Nov 2013
Posts: 4,167
Likes: 226
From: Aircraft & Seat: old & hard
On company 5. #1 doesn't really count, was not planning on staying, not a career place, they went bust a few times, and finally called it quits last year. #2+3 went TU half a year after I left, #3 laid me off a week before my class date at #4 (NK) so that worked out... think I left NK too late, if you want to go, go yesterday. Hindsight is 5 years ago (2020)
09-03-2025 | 09:48 AM
#1666
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,847
Likes: 654
From: Engines Turn or People Swim
Yeah debt is something you have to pay back, unless you default or go BK.
Leases are fundamentally different, because if you stop paying the lessor still owns the asset and can come and get it, even more so than say a bank lien.
A BK court might put a stay on repossession for a *very* brief period, but a BK court cannot force the lessor to let you keep their stuff unless you're making payments they are happy with.
A leased asset isn't collateral to a loan, it's literally a rental. The lessee never had any sort of ownership stake or title.
Leases are fundamentally different, because if you stop paying the lessor still owns the asset and can come and get it, even more so than say a bank lien.
A BK court might put a stay on repossession for a *very* brief period, but a BK court cannot force the lessor to let you keep their stuff unless you're making payments they are happy with.
A leased asset isn't collateral to a loan, it's literally a rental. The lessee never had any sort of ownership stake or title.
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