The issue is significant not only because more families are facing creditor problems, but also because more of a typical family's wealth is now in retirement accounts.
Mr. Knapp will once again be doing some hard negotiating as he faces creditors.
That is the $12 billion question facing the creditors of Asia Pulp & Paper (APP), which suspended debt payments this week.
Others have been summoned to face their creditors because they spent mindlessly beyond their means.
As the oligarchs face impatient creditors, there is only one place they can turn to for help: the Kremlin.
The crisis intensified the problems faced by creditors to screen the potential borrowers and boosted the research in this field.
In fact, MGM is facing bankruptcy after creditors voted for a reorganisation under a deal with rival firm Spyglass.
The plea from its owners, Bain and Thomas H. Lee, is facing resistance from creditors, according to The Financial Times.
For the three million Greeks now facing poverty, placating creditors means much less than erasing the painful conditions attached to its bailouts.
