What is the meaning of 1 Corinthians 6:7?

* The two F.O.G. Bibles & Commentary below are currently a work in progress.

The very fact that you have lawsuits among you means that you are thoroughly defeated already. Why not rather be wronged? Why not rather be cheated?

Berean Standard Bible (BSB)

Therefore it is already altogether a defect in you, that you have lawsuits one with another. Why not rather be wronged? Why not rather be defrauded?

World English Bible (WEB)

Now{G2235} therefore{G3303}{G3767} there is{G2076}{(G5748)} utterly{G3654} a fault{G2275} among{G1722} you{G5213}, because{G3754} ye go{G2192}{(G5719)} to law{G2917} one with{G3326} another{G1438}. Why{G1302} do ye{G91} not{G3780} rather{G3123} take wrong{G91}{(G5743)}? why{G1302} do ye{G650} not{G3780} rather{G3123} suffer yourselves to be defrauded{G650}{(G5743)}?

Strong's King James

(7) Surely, everywhere then it's already a loss for you that you have condemnations with one another! Why not instead be wronged? Why not instead be defrauded?

The F.O.G*

[7] The very fact that you have lawsuits among yourselves shows you've already failed completely. Why not rather suffer wrong? Why not rather be cheated?

The F.O.G Paraphrase

Already, indeed, then, there is altogether a fault among you, that ye have judgments with one another; wherefore do ye not rather suffer injustice? wherefore be ye not rather defrauded?

Young's Literal Translation