If a heavily indebted individual wanted to save for the future, a financial advisor would probably tell him the first step is to pay off some of his debts.

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It of course makes everyone a millionaire, gives everyone the spending power to pay off their debts, put some into savings and investments, buy the things they need to make life a little easier for a while.

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In the end, NextWave was able to resell the spectrum to Verizon, Cingular (now ATT) and Metro PCS. It was able to pay off all its debts, its lawyers and still have some money left.

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The group chief executive, Roger Lewis, said the Union had taken the decision to pay a number of exceptional items, such as accepting that some debts owed to them were unlikely to be paid off.

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