This is laying the groundwork for distressed debt opportunities. We think it is analogous to the stacking of wood for a bonfire.

BP is committed to communities where we have a presence, ... And here in Wood River, where BP has called home for many years, we are very interested in the opportunity to turn this property back into a substantial economic development for the benefit of the residents of Wood River because it's good for the environment, good for business and the right thing to do.

The average debt per household is $9,000. The rate now is $180. It will be $360.

You'll see creditors get more aggressive at collecting debt, the reason being that they can.

You want to have the resources to hire the professionals you need and to service debt, make lease payments and put up cash collateral, as required to keep operating the business. And you need to pay vendors.

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