Monday January 27, 2020

Talking Finance: It pays to know if your write-down is worth it

Free money is always worth looking into, but the ‘time value of money’ must be taken into consideration first

5th February, 2017

One of the most frustrating things I come across as a financial adviser is watching a bank refuse to write down a loan and then selling that same loan, usually making a loss. The frustrating bit is what comes next.

The bank absorbs the loss. Then a distressed debt buyer (sometimes referred to as ‘vulture’) comes along, buys the loan and offers the borrower a write-down.

Most of the banks realising these losses...

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