Pelfrey Informational Thread - One Post Condensed Version

Sucks man, I wonder why? I had PB send me an invoice. I paid with PayPal credit, maybe that’s why?

 

Yeah maybe. I paid with CC thru PayPal .. but has some PayPal balance also that I used.

 

Curious. What was your timeline and how much was your invoice?

My transaction was ACH. See yours was CC. Your CC can override them and force them to refund.

 

July 5th $1365 my cc company actually got me back the cc part.

 

I contacted the court clerk regarding the creditor meeting date and our info listed in the public bankruptcy filing.

I’m in a bit of a different situation as are a few others of the 600 “creditors”...we paid AND RECEIVED our gear and are still listed in the public filing info. The following info is for this particular group of people:
1. You can have your name and personal info removed from the public filing.
2. You’ll need to petition the court clerk for removal via written statement.
3. State the case file number, your name, the situation as to why you are requesting removal and your contact info.
4. The person I spoke with assured me their office would remove it in reasonable time.

Again, this is pertaining to those who are not owed money from PILFERED but are listed as creditors.

 

Thanks for the posting this info. I'm in the same situation. While I'm not owed money, I'd prefer to not be involved or have my information included. Did the clerk confirm the address to which the statement should be sent? Is it just the courthouse address?

 

In your letter, #6. Bankruptcy Clerks Office.

 

I just saw this for some reason. I have added that to the first post of the thread.

Thank you for providing that information.

 

Got the paypal notification today as well, i paid with cc through paypal as well

 

..approval or denial?

 

Got it. I'm going to try to get a letter sent in this week prior to the hearing. Thanks again for posting the info.

 

The bankruptcy court has their supplemental filings available detailing their assets and financial liabilities. PelfreyBilt Offroad Inc. is listed as an asset in the personal bankruptcy with a $100,000 inventory liquidation value. As of 9/20, The COMPANY owes secured creditors $18,000 and lists $500,000 in unfilled customer orders, less credit card chargebacks, and specifies that current chargebacks via PayPal are at $250,000. The company owes other unsecured vendors $380,000. There is a sizable amount of personal debt detailed as well.

The description of property securing an $18,000 debt for one secured creditor is listed as "Note is secured by specific assets of Pelfreybilt Offroad, Inc." and they have opted to surrender those assets, so at least some of the $100k of the assets underlying the liquidation value the company will be depleted by this claim.

As an aside, it seems that someone wrecked the Lexus RCF as the notes for that vehicle state "vehicle has considerable body damage and needs new wheels." They are surrendering the wrecked car to the note holder.

 

In my favor, funds returned

 

Guessing you dowloaded the docs off Pacer. Are you going to attach the pdf's here? If not, I can login to my pacer account and download them.

 

I did indeed, but it contains personal information regarding the Pelfrey's and the moderators will remove it as a result of that.

 

so depending on the accuracy, that's potentially over a million $$$ that's out there. wow. just. wow.

Now the question becomes, how much they pocketed before going belly up...how long were they not paying vendors (usually can get away with 90days?) and how many orders they took during their final cash campaign before it went supernova.

 

it is definitely over a million dollars of personal and business debt. Unless they have risked a felony by providing a fraudulent listing of their accounts and balances, it doesn't look like they have anything significant to show for all this missing money other than their house. They have very little cash on hand in the business or their personal accounts. Looking at the assets and liabilities, they are just REALLY bad at managing money, and never should have been managing the business of their business. It's a shame.

 

OR that's exactly how they wanted to paint it, but with their failed missteps trying to communicate (the blame game, the silence, the ghosting on TW.com, screwing over their employees... the list goes on) I HIGHLY doubt they have the savvy to pull it off. If they did, good grief they should be in a cell. Now...

I think you are right. Lots of people ruin businesses they start because they have no business running one. I'm salvating for the forensic audit reports.

 

Soo, I've received my money back from paypal, (not CC, from my paypal account) and I've also received the notice letter from the bankruptcy case. Considering that I already have my money back, should I still pursue getting my name removed from the list of creditors, or is it even worth it? I don't know anything about bankruptcy cases, nor do I have the energy to pursue such knowledge, but I would like someone's insight on the/my situation. Or if I should take any other actions against them to help out the overall situation for everyone else? Thanks guys

 

If you remove your name from the creditor list then you will not be able to claim any funds owed to you. Some of the people have had their money returned only to be told that it may only be temporary. I would leave my name on the list just in case the bank decides they made a mistake.