Ch. 7 Bankruptcy Filed 9/6/18

Lol speak for yourself. There is more expendable income these days then ever in history.

 

No, they need to stay angry to get results and get their money back. Everyone on here is a Toyota 4x4 enthusiast which is a small market in the auto industry. It's going to be interesting as this goes along because its passed bankruptcy and is fraud. We all joke and tease one another but on the trail I don't think any of us would leave one behind. I hope these guys that have a right to be angry get a resolution of some sort. They played the bankruptcy system well more than once but hopefully the federal courts shove that massive dick down their throat all the way through their ass.

 

Sooo why do you have a 2017 Tacoma?!!!! There is no ROI unless you use it commercially. You could aford to throw $35K away?

Actually. Tell you what. Don't reply. You are now ignored.

Unbelievable .

 

I'm not upset about the money lost really, i spend way more than that on dumber shit all the time. Par for course having needless hobbies. Hell just yesterday I paid to have a miniramp built and installed in my backyard. I havent skated in well over 15 years. Same amount of money as my bumper, but at least it's in my backyard already.

I'd say what bothers me the most of all of this is the people they made them selves out to be doesn't align with the people they turned out to be. Loosing money is one thing, loosing people you were close with is another, especially when the situation is something where you did no wrong. I can say without a doubt I would never buy another item from them in this or any other business, and will express my part in all of this to others if they do re-appear. This isnt a situation where the economy tanked and they lost it all. This is a situation where they tanked and lost it all and took us with them in their short sightedness. It's petty and wrong for them to even suggest any of us had a part in their undoing. Not a single person here is responsible for their situation, chargeback and all. Honestly, I was will to at first still remain disconnected form the loss of money and their friendship as it appeared they were honestly trying to fix stuff. However as time moved on things became more apparent that behind the scenes they were moving in directions that countered their "family first" mentality. Right now, fuck'em. Lost your house, sorry. You lost it not a soul here. Your business is gone, bitch please it was dead before it was gone. You operated in a way that required capital while not moving forward. For 210 days they more than likely were standing on the side of the boat with the hole holding wine glasses throwing water overboard while yelling see we're pumping the water out, unfortunately their unmoored sinking boat took out the dock alot of us were standing on.

 

Truth.

But not really the point. Some people’s luxuries are other people’s goals. Goals got squandered just as easily here, the picture is bigger.

 

Actually yes. I paid cash and that money will all be gone in 10 years.

Cars are not investments they are luxuries.

 

I live in an affluent town. Which is why I'm not as rich as I should be. Regardless, I dine even know what were arguing about. It's like when the baby is crying and husband and wife start arguing for no reason. I really dont give a shirt what anyone has because my truck is dope.

 

I can pretty much say with absolute positivity that the bankruptcy filing will not affect the Pelfrey’s personal assets. I worked for a company that did this exact same thing by selling block time on private jets and never delivering the hours the customers paid for. The owners of the company made millions of dollars, purchased a $12m home in Marsh Harbour in the Bahamas and then filed chapter 7. After it was all said and done, they lost their business and all business assets but are spending their days quite richly between their multi million dollar homes in South Florida and the Bahamas. They cooked their books and bolted with all of the customers money. After the bankruptcy only about 30% of the customers received full refunds.

 

I'm sure I have lost some orders but the guys that do order don't cancel

 

I understand man, plenty of advice floating here in these 64 pages, people need to gather them and proceed to go file their claims. There will always be people who leave others on the trails unfortunately, that is why we weed out those who dont do this and wheel with the people who we trust. Its a shame but thats the nasty reality of it, with social media we laugh at others misfortunes when they break and get stuck while recording it for views on social media......ive seen it all.

Since this is a massive storm with orders spanning years of unfulfilled orders there will be those who are made whole and those who will not be. That is the truth...many companies flop and people are left dealing in the system that will take years to get pennies back on their dollars.

I joke an all but i know the extent of the situation

 

Here you go....
https://www.experian.com/blogs/ask-experian/what-is-chapter-7-bankruptcy/

https://www.thebankruptcysite.org/r...erences-between-personal-corporate-bankruptcy

Also, see below, particularly number 11.
https://www.suttonlawdenverwest.com/Bankruptcy/Common-Questions-About-Chapter-7.shtml

Finally....
http://www.alllaw.com/articles/nolo/bankruptcy/chapter-7-small-business.htm

 

damn so we wont be seeing a cheap lexus rc on auction anytime soon

 

how you going to buy it if you are in texas?

 

They filed under their business, not personal.

 

I know but the chapter 7 is chaired 7. I’m not sure how their business structure is set up. This is just general guidance. Heck, I can’t read these posts fast enough to post anything of substance other than the federal court guidance I posted earlier.
http://www.alllaw.com/articles/nolo/bankruptcy/chapter-7-small-business.htm

 

Oh shit! I sense a sneak diss tucked in that statement.

 

Don’t forget the LX470

 

Some people have their heads so far up their @$$ that their ears are now full of it. No need to chat with them at that point.

 

Any way we can start a thread or pm group with the people who are actually involved in this shit show? Hard to read through all the bullshit to get to the real info.

 

That's not accurate. They still need to file a variety of documents, including one listing all of their assets, where luxury automobiles will appear (Based on my experience, I doubt they have any equity in it), as well as a document known as a "Statement of Exemption from Presumption of Abuse." Until they file their schedules of assets and liabilities and the other missing docs, I won't know if my theory on what they are trying to do is correct or not.