Ch. 7 Bankruptcy Filed 9/6/18

literally... built with stolen money. fack me they couldn't have been that brazen

 

Just read on another forum that they took an estimated 150 preorders ($200,000) for the 4Runner front bumper and made two (yes 2) in a year and a half.

Really seems like a scam to me or at least they wanted it to end that way.

 

fuck pelfreybilt

 

Has anyone here filed for chapter 7 before in california? How does it work? If its personal does the business go belly up? Does that mean they are liquidating business assets or personal etc. (My understanding is its personal assets but yeah I dunno ) Also if anyone has answered this sorry but 54 pages is a lot to read through

 

That's not gonna end well for the cons.

 

So why has @Socalduckslayer not been banned yet? Seriously. Seems like Tyler shouldn’t be allowed to keep his account on TW.

*edit I now see that all Pelfreybilt threads are locked, but I still would love to see his account gone.

 

Doesn't mean it was a scam. Maybe, like the majority of the businesses in the world, the owners had thought they had a great idea, but either it really wasn't or they didn't know how to manage the idea as a business.

Probably took on a bunch of loans and ran-up credit cards to get employees paid and purchase capital. They used "Debt-as-a-tool", which is preached by everyone in the united states. When it got time to pay the debt, they couldn't do it, even with all the pre-order cash that came in.

Probably drew some cash from the business to pay for their living expenses as well.

 

Not necessarily there have been many companies that had contracts with the DOD and then filed bankruptcy and ditched. Contractors of all sorts do this to the gov't on the regular. Pretty much the gov't says eh it wasn't our money oh well. It isn't until the taxpayers raise hell that the gov't will actually go after or try and get the money back or at least look like they are.

 

They’ve filed bankruptcy twice before.

 

P

Seems like they wanted to get as much money at the end. Basically taking as many full payments as possible so they won’t have to work for a couple years after bankruptcy. They were using all the trust they gained with everyone throughout the years to make as much money as possible in 2018 and run with everyone’s money. Pathetic.

 

I would bet they owe LaserNut money too.

 

Waiting for a new thread!

 

Is Pelfreybilt an LLC in fact? I was operating under the assumption it wasn't because their websites web address only says copyright Pelfreybilt with a trademark symbol, not copyright Pelfreybilt LLC. For the record, I was endorsing using an LLC in a legal manner, and for the right reasons, not to commit serial business fraud just barely outside the statute of limitations. THAT is gaming the system and not at all what I was talking about. LLCs are legitimate vessels to carry business assets as long as they are not used for such criminal activity as what you are insinuating the Pelfreys are doing

 

Do you honestly believe they had investors lined up? They were taking orders from people on 8/31! The did the bankruptcy credit counseling on 8/27! They knew what they were doing.

If it smells like shit, it’s likely gonna be shit.

 

Corporation.

 

True, they were incompetent in managing their business and the situation. However you dont complete your bankruptcy application within 6 days of making an announcement of having investors talks... unless they are experts at filing the application... like i said they need to be investigated...they took peoples money knowing they were in deep, doesnt justify their excuses... if you knew you were in deep shit you stop taking orders, but it appeares they had other plans...