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But until last week it had been used by only a few distressed lenders and enthusiasm seemed to be waning.
At one extreme, a few distressed companies are voluntarily, albeit reluctantly, turning to new buyers to resolve their problems.
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Since Mr. Smith last used war as the main theme in his radio plays, in 2002, he has traveled to Iraq six times, most recently in June; Afghanistan twice; Turkey five times; Haiti five times; and a few other distressed countries, taking photographs to document conditions.
This dearth of information leads to a serious game of "Guess How Much I'm Worth?" Except for the select insiders and a few savvy distressed debt players, this is a game of craps.
"There's too much capital chasing too few distressed assets," said Robin Doumar, managing partner at Park Square Capital, a London-based firm that invests in debt financing.
That's what the firm I work for is already doing: buying the few distressed loans banks will sell and offering principal modifications that help keep people in their homes.
So far, very few distressed sellers have appeared, meaning most fine cars are still in the hands of enthusiasts, not speculators.
Despite these serious consequences few distressed students seek help [ 15].
When we had quite a few of our distressed commercial loans secured by real estate.
Meaningful improvement may have to wait until there are many fewer distressed properties for sale.
"Due to foreclosure processing delays, fewer distressed sales are occurring relative to normal sales," Ms. Chen said.
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