Ch. 7 Bankruptcy Filed 9/6/18

I had paid in full the first week in February for a high clearance dual bumper with my CC. When this all went south I was worried about the 180 day rule but after two months from when I filed my claim my CC issued me a full refund yesterday.

Feeling very relieved and hoping others will be getting their money back as well!

 

"Secured Creditor" means that the creditor has put a lien or filed a UCC1 on certain assets of Pelfrey. For example: I own the company that sold Pelfrey their CNC machine and they could not pay in full so I went ahead and loaned that machine out to them but they continue to make the payments. By using the machine for collateral that helps me ensure that I get what is owed to me in the event of bankruptcy. Another easy example is the bank holding the title to your Tacoma until you have fully paid that debt back.

Unsecured vendor is exactly what it sounds like. I sent Pelfrey a truck load of steel and placed them on a 90 day note or something along those lines. They send the product to Pelfrey along with the invoice to be paid. This would be like walking in to your local fina


I work in banking (Loan Officer) so anytime I can get someone to put up collateral for a loan the underwriters are way more likely to approve it because if they do file bankruptcy that just ensures we would be able to collect on that debt.

 

So....like....any Black Friday deals going on?

 

By my understanding, they will take whatever you want to give them, and tell you that at some undetermined point in the future you will get whatever it was you wanted for said price....

 

So you're sayin' there's a chance...

 

I'd say your chances are 50/50. You'll either get your products or you won't.

 

More like 50% you wont get them or 50% you'll never get them

 

I missed pelfrey at sema, maybe they will be at the pri show.

 

"In" for when they popup somewhere else with a new business. I want to hear all about how that goes.

 

They are currently in Fort Worth Texas to my knowledge, I look online for stuff around there that might be them

 

So are they having a black Friday sale?

 

No, it's a blank Friday sale.

 

My theory is they'll open another off road business but this time focus on a different group, like Jeep's, or fords, Chevy's, etc. Those groups hardly intertwine and it'd be like nothing ever happened

 

I see him getting into motorcycles since he was an avid rider

 

It's pretty obvious they will. What better way to boost sales and profits than a sale with no product to send out

 

Haha black friday sales lol

 

Maybe they should just cut their losses and quit gambling with peoples money and get 9-5 jobs. That would make sense.