"So you let a few cheap defaults pile up. You don't put up any fight because really they can't get anything from you. Then your luck changes, the economy picks up, or you land that job you have been working on. It is three or four years later and then bam those lawsuits you did not care about have their hands out wanting their money.
this is soooooooooo true. The banks pulled the rug out from underneath me because their economic model had changed, (I did not miss a payment or anything), but they called in the loans, shut off my lines. One line, I actually paid off $50K, and they just shut the line off. I should've used the money to grow my business, but instead, I was crippled. I could not even pay on the other lines I had with the banks. they took my money!
So now, they are looking up my company on the internet, and they see I did not go out of business. They are asking for their money now.
I try to bear in mind that my economic situation is temporary, and always fight, no matter what. Yeah, I am very depressed, and some days I dont care, but I think about just what you said.