No wonder bankruptcies cost so much if they keep sending letters and paperwork to those who are neither creditors nor debtors to the bankrupt company.
I have been getting a mailing from MCI's bankruptcy consultants every week or two since the filing. Yesterday I got a bunch of paperwork to file a claim. I don't owe MCI any money and I don't believe they owe me any money either. I am only a customer because I buy Dina parts from them.
They are just being extremely thorough to avoid nasty surprises later. According to bankruptcy law as I've understood it, if there are any creditors not identified during the bankruptcy, that debt still stands afterward. So they are probably contacting everyone on the MCI mailing lists to make sure no "unidentified creditors" slip through the cracks.
Yup, i been getting it too. I just look at it and then toss it.....they don't owe me any money either darn it. ;D
Like HTR said
I had a damaged windshield that was returned and it took almost a year to get it settled so to avoid that they are contacting EVERYONE.
Melbo
Same here, we are getting them too! They are making sure you are not a disgruntled customer who has an unsettled claim/issue with MCI.
As it turns out it is actually helping my friend who has the two beautiful Setra 417's (one of which I paraded around in for over a week recently! LOL) as he has had an ongoing lawsuit against MCI for 4 almost 5 yrs now over some MCI's he had before the Setra's. And it seems now that the bankruptcy lawyers want to just settle up with him instead of fighting it as the other lawyers had been doing until now! (seems the others have been fired and are also now suing MCI for back payment LOL! Ain't life sweet!) ;D BK ;D
I just read the stuff and toss it in the recycle bin, but it just seems like a waste of money to me.
Quote from: belfert on November 24, 2008, 09:44:01 AM
I just read the stuff and toss it in the recycle bin, but it just seems like a waste of money to me.
I know what you mean. But look at it this way. For the sake of discussion let's say they spend $10,000 on all of these mailings (postage, printing and clerk time). They could end up paying well over that much if they missed one or two significant claims against them and after the bankruptcy finalized those creditors/claimants came forward, or even a collection of small claims.
On the other hand, if someone did come forward afterward to make a claim and it could be proven that they had been sent the letter(s), then the judge would likely dismiss their claim.
They are being careful to come out of the process with much lower debt than they went in with. Actually, their timing with this may enable them to come out of the "recession" on top of the bus industry. While other bus companies are or will be struggling to survive right now and if they survive will come out of it deep in debt, MCI is currently operating under protection from creditors and should come out of it with less debt than before.