And this is reason 26366363 why it almost never makes sense to sell your creditor claim to a hedge fund.

Unless you have 29% interest loans to pay down or you’re going to die soon without heirs, it makes sense to wait it out. The hedge funds (usually) discount the expected value by a ton when deciding how much to pay.

I wonder what Miami Dade county sold their $17m claim for after the stadium naming agreement got cancelled:

https://amp.miamiherald.com/news/local/community/miami-dade/...

(But I guess they did ok by re-selling the naming rights for more per year to Kaseya which somehow has a lot of cash after indirectly getting >1000 companies had their computers down after getting ransomware’d: https://en.m.wikipedia.org/wiki/Kaseya_VSA_ransomware_attack )